Market Research Reports, Business Consulting Services & Analytics

Stringent Government Regulation Relating to Toy Quality for Polyester Soft Toys Market

HYDERABAD, TELANGANA, INDIA, December 1, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Polyester Soft Toys Market size is estimated to grow at a CAGR of 7.6% during the forecast period 2022-2027. Polyester Soft Toys are toys made from polyester fiber like polyethylene terephthalate which is derived from purified terephthalic acid and monoethylene glycol. The rich properties of polyester fiber such as soft cushioning, insulation, less shrinkage and mildew resistance are driving its market demand to be used in soft toys. Furthermore, factors such as the rapid increase in the children population, a growing number of kindergarten & nursery schools and bolstering growth in government investments in childcare are driving the growth of the Polyester Soft Toys industry. However, the government regulations related to the safety of children's toys are anticipated to pose a challenge in the growth of the Polyester Soft Toys industry. The disruptions caused by the COVID-19 pandemic affected the Polyester Soft Toys industry outlook as the lockdown restrictions reduced the demand for toys in the market resulting in less usage of polyester fiber for making soft toys. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/20061/polyester-soft-toys-market.html

Key takeaways:

1. North America dominates the Polyester Soft Toys industry due to significant growth witnessed by children populations over the years which is influencing the demand for Polyester Soft Toys in the region.

2. Setting up of kindergarten and childcare institutions for child development has accelerated the demand for Polyester Soft Toys which has positively impacted the Polyester Soft Toys industry outlook.

3. Various regulations relating to toy quality control can limit the usage of polyester in making soft toys thereby negatively impacting the Polyester Soft Toys Market size during the forecast period.

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Segmental Analysis:

1. The traditional stuffed animals held the largest share in the Polyester Soft Toys Market share in 2021 and is forecasted to grow at a CAGR of 7.8% during the forecast period 2022-2027.

2. The offline channel held the largest share in the Polyester Soft Toys Market share in 2021 and is forecasted to grow at a CAGR of 8.1% during the forecast period 2022-2027. Offline distribution channel including gift shops and toy stores provides a wider range of soft toys made from polyester fiber such as polyethylene terephthalate.

3. North America held the largest share in the Polyester Soft Toys Market share in 2021 up to 42%. The demand for Polyester Soft Toys in the region is significantly influenced by the rapid increase in the children population in the major countries such as the US, Canada and Mexico. For instance, according to US Census Bureau, in 2021, the population of children aging between 0-5 years stood at 24.6 million showing a 5% increase from 2020’s population number.

4. According to Statistics Canada, in 2021, the population of children aging between 0-14 years stood at 6.01 million showing a 3.5% increase in comparison with 2016’s population number. Such growing strength of children has increased the demand for stuffed and plush toys, thereby increasing the usage of polyester fiber such as polyethylene terephthalate driven from purified terephthalic acid and monoethylene glycol, resulting in a positive market growth in the North American region during the forecasted period.

5. According to the World Bank, in 2021, the global children population stood at 1.98 billion showing an increase of 3% in comparison 2015 population. Such an increase in the population of children has accelerated the demand for soft and plush toys consisting of stuffed animals, action figures and dolls, especially for toddlers.

6. The rapidly growing children population has accelerated demand for such institutions resulting in an overall increase in their number. According to the China Ministry of Education, in 2021, the number of pre and nursery schools stood at 294,832 units showing a 1.1% increase over 2020’s number. Furthermore, according to US National Centre for Education Statistics, in 2019, the number of kindergartens, nurseries and elementary schools stood at 70,039 units showing a 1% increase in comparison to 2016’s number of units.

7. For instance, the Toys (Quality Control) Order 2020 passed by the Indian Government seeks to tighten the quality norms for toys both manufactured and imported in India to provide safer toys for children. Also, the December 2021 updated US Consumer Product Safety Commission provides certain rules and regulations related to the materials used in toy manufacturing.

Competitive Landscape:

The top 5 players in the Polyester Soft Toys industry are -

1. Mattel Inc.

2. Bandai Namco

3. Hasbro

4. Tomy Company

5. Simba Dickie Group

Click on the following link to buy the Polyester Soft Toys Market Report:
https://www.industryarc.com/reports/request-quote?id=20061

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Related Reports:

A. Color Masterbatches Market
https://www.industryarc.com/Report/11740/color-masterbatches-market.html

B. Polyester Staple Fiber Market
https://www.industryarc.com/Report/16100/polyester-staple-fiber-market.html

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