Kids Toys Market | Future Product Development Plans | An Emerging Hint of Opportunity

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The latest trend in kids’ toy market is providing entertainment along with learning and education.

PORTLAND, PORTLAND, UNITED STATES, August 25, 2021 / -- Kids Toys Market Outlook – 2028

A toy is an object used for entertainment, from prehistoric times. It is made up of various materials like wood, clay, plastic, and others. The toys are mostly designed for kids to help them in entertainment, learning, and development. The kids’ toy market has been evolving since an era and is experiencing exponential growth. Earlier, the category of toys consisted of hoops, spinning tops, balls, construction set, puzzles, dolls & miniatures, vehicles, soft toys, windup toys, collectibles, Frisbee, and others but as the technology has advanced the digital toys like musical toys, smart robots, circuit maze board game, drones, touch and learn activity desk, and others are also being introduced in the market. Innovation and technology have given new heights to the kids’ toys and has also increased the market share. Various government initiatives and associations of the toy industry in different parts of the world have led to the augmentation of the kids’ toy market. China is the top producer and exporter of the kids’ toys, holding the largest market share.

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COVID-19 Scenario Analysis:

Lockdown Scenario
The lockdown scenario caused in many parts of the word due to COVID–19 outbreak has impacted the sales and revenue of the toy industry. The sales of the outdoor games and toys dropped down due to the lockdown but the indoor games were still demanded in the market.

Production hampered
The toy association, The Toy Book, The Toy Insider, the Toy Pop Insider, and most of the manufacturing units and plants were shut down due to the coronavirus pandemic.

Supply Chain
The key stores like Best Buy, Disney, and others had to shut down due to the lockdown but still the online deliveries and phone orders were made in some countries. The e-commerce platform like Amazon limited its shipment only to the essential items.

Regulatory Hurdles
Several toy fairs were postponed and cancelled due to the outbreak. The export and import restrictions led to a loss in the kids’ toy market.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The size of the toy market is expanding as numerous companies are becoming part of the association in the toy market. The kids’ toys are not only limited to serve the purpose of entertainment but are also becoming an important aspect of a child’s growth and overall development. The latest trend in kids’ toy market is providing entertainment along with learning and education. The advancements in technology and digitalization, artificial intelligence, awareness of kids about the special characters and cartoons, increased disposable income, changes in lifestyles, Internet of Things, increase in birth rate, advancement in modern applications and toys and reduced time for parenting are the major factors that boost the growth of the global Kids’ toys market. The raw material suitability, price of the toys, the safety of the toys, increased tariffs and import duty hike, increased competition in the market, and risk hinder the market growth. Contrarily, an investment made in the product cycle and R&D of new as well as existing toys, increase in distribution channels, investment in the growing market, customization of raw material, and sustainability of the products by causing less harm to the environment present new pathways in the industry.

Innovation and technology

The huge competition amongst the leading players in the kids’ toy market has led to many innovative and creative toys like robotic toys, 3-dimensional toys, touch & learn activity toys, musical toys, and others. The key players are focused to create a positive impact on childhood along with providing safety to the kids and the environment. Recently, the kids are more inclined toward cartoon character and comic toys; therefore, a key player in kids’ toy market, Mattelhas launched a series of action hero character toys. Top manufacturing brand Barbie has launched its series of star wars character in Barbie doll, mainly targeting the girl’s segment. Also, Scarlet Nexus a part of Bandai Namco Entertainment Inc. is soon to launch PlayStation 5 during the forecast period, giving a new dimension to the digitalized games.

The social media presence of the brands has also led to augmentation in sales and growth of the market. The digital social marketplace like is creating an immense opportunity for toy retailers and suppliers to connect with their customers and expand their business.

Government associations and initiatives

The associations like The Toy Association, Southeast Asia Toy Association, The Toy Association of India, and others have led to the development of the global toy industry. Certain policies and regulations have been adopted by these associations its member industries. The main aim is to create public awareness, sustainable growth of the toy industries, develop regulatory standards for the toys to be passed in the market and protect the environment from the harmful raw material being used for the production of toys. The investment of the industries in recyclable toys and green toys is the major factor for the growth of the kids’ toy market.

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Key Benefits of the Report:
• This study presents the analytical depiction of the global kids toy industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global Kids’ toys market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Kids’ toys market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global Kids’ toys market analysis based on competitive intensity and how the competition will take shape in the coming years.

David Correa
Allied Analytics LLP
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