China Toys Market is projected to be worth USD 58.36 billion by 2033 and is anticipated to surge at a CAGR of 10.83%.
Toys work as interactive tools that support young children's learning and growth. They come in a range of forms, colours, and sizes and can be made of a number of materials, including plastic, fabric, clay, metal, and wood. There are several types of toys, including ones for physical exercise, toys for brain training, promotional items, and collectibles. Due to their ability to aid in the development of reasoning and logical skills, as well as spatial reasoning abilities, these playthings are essential for cognitive development. Toys available in a variety of forms include construction and building sets, instructional toys, cards, board games, rattles and puzzles.
China Toys Market Driving Factors and Challenges
The product's growing appeal among kids is the main factor driving the toys market in China. Accordingly, the growing demand for multicoloured toys among pre-schoolers is driving a substantial portion of the market. In addition, the market is being positively impacted by the rising demand for cutting-edge educational base items including computing kits, remote-controlled automobiles, and cubetto and dash robots. In addition, the way that customers are choosing to play console and joystick games is changing, which presents a lot of potential for market growth. Numerous industry participants are taking part in various gaming events.
This encourages them to create cutting-edge gaming products, which in turn spurs industry expansion. Leading players are also emphasising giving kids a variety of gaming products to surprise them when they open their boxed presents. Children will probably become interested in playing with these things as a result, which will spur market expansion nationwide. In addition, the industry is expected to grow as more toys composed of eco-friendly materials like cork, bamboo, and clay become available. To address this demand, industry participants are concentrating on creating toys made of recycled plastic. It is therefore anticipated that this will accelerate market expansion nationwide.
However since games can be played on smartphones and tablets without the need for a separate play equipment, youngsters these days adore playing online games. This will likely make it harder for the businesses that make video console kits to grow, which will obstruct the growth of the toys industry. Moreover, a barrier to customer choice is the frequency of skin rashes associated with prolonged use of dolls and construction play kits, which include harmful materials including lead, phthalates, and flame retardants. The competitiveness of the market and rising expenses for advertising and product development are further preventing the big players' companies from growing.
Impact of COVID-19 on China Toys Market
Kids are spending more time at home because schools were closed due to the COVID-19 pandemic, which is increasing the market for larger play figurines that provide hours of fun. For children, instructional games with a building theme have become more popular since the pandemic. Parents are less likely to physically shop for these things due to concerns about the virus spreading, which is hurting sales for physical retailers. Retailers find it difficult to resupply the newest products as a result of supply chain disruptions caused by the epidemic. A child's chance of catching the virus is greatly heightened when parents or guardians are out in the open while shopping. This is why it's noticeable that during these times, the trend is towards indoor entertainment and instructional toys.
China Toys Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Hape International AG, Hasbro, Inc., LEGO System A/S, Mattel, Inc., Micro Mobility Systems AG, Ravensburger Ltd., Shantou City Big Tree Toys Co., Ltd, Sieper GmbH, Silverlit Toys Manufactory Limited, VTech Holdings Limited, Others.
China Toys Market Segmentation:
By Product Type: Based on the Product Type, China Toys Market is segmented as; Activity Toys, Construction and Building Toys, Dolls, Electronic/Remote Control Toys, Games and Puzzles, Infant/Pre-School Toys, Plush Toys, Ride-Ons, Sports & Outdoor Play Toys, Others.
By End-User: Based on the End-User, China Toys Market is segmented as; Boys, Girls, Unisex.
By Sales Channel: Based on the Sales Channel, China Toys Market is segmented as; Departmental Stores, Online Stores, Specialty Toy Chain Stores, Supermarkets and Hypermarkets, Others.
By Region: This research also includes data for Guangdong, Henan, Jiangsu, Shandong, Zhejiang, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.