Analysis on market status and development prospect of global toy industry in 2021

market size

With the improvement of people’s living standards, the toy market in developing countries is also gradually growing, and there is huge room for growth in the future. According to the data of Euromonitor, a consulting firm, from 2009 to 2015, due to the impact of the financial crisis, the growth of the toy market in Western Europe and North America was weak. The growth of the global toy market mainly depended on the Asia Pacific region with a large number of children and sustained economic development; From 2016 to 2017, thanks to the recovery of the toy market in North America and Western Europe and the continuous development of the toy market in the Asia Pacific region, the global toy sales continued to grow rapidly; In 2018, the retail sales of the global toy market reached about US $86.544 billion, a year-on-year increase of about 1.38%; From 2009 to 2018, the compound growth rate of the toy industry was 2.18%, maintaining a relatively stable growth.

Statistics of global toy market scale from 2012 to 2018

The United States is the largest toy consumer in the world, accounting for 28.15% of the global toy retail sales; China’s toy market accounts for 13.80% of the global toy retail sales, making it the largest toy consumer in Asia; The UK toy market accounts for 4.82% of the global toy retail sales and is the largest toy consumer in Europe.

Future development trend

1. The demand of the global toy market has increased steadily

Emerging markets represented by Eastern Europe, Latin America, Asia, the Middle East and Africa are growing rapidly. With the gradual enhancement of the economic strength of emerging market countries, the concept of toy consumption has gradually extended from mature Europe and the United States to emerging markets. The huge number of children in emerging markets, low per capita consumption of children’s toys and good economic development prospects make the emerging toy market have high growth. This market will also become an important growth point of the global toy industry in the future. According to Euromonitor’s prediction, global retail sales will continue to grow rapidly in the next three years. It is expected that the sales scale will exceed US $100 billion in 2021 and the market scale will continue to expand.

2. The safety standards of the toy industry have been continuously improved

With the improvement of people’s living standards and the strengthening of the concept of environmental protection, toy consumers are urged to put forward higher requirements for the quality of toys from the consideration of their own health and safety. Toy importing countries have also formulated increasingly strict safety and environmental protection standards in order to protect the health of their consumers and protect their toy industry.

3. High tech toys are developing rapidly

With the advent of the intelligent era, the toy product structure began to tend to be electronic. At the opening ceremony of the New York International Toy Exhibition, AI ou, President of the American Toy Association, pointed out that the combination of traditional toys and electronic technology is the inevitable trend of the development of the toy industry. At the same time, LED technology, reality enhancement technology (AR), face recognition technology, communication and other science and technology are becoming more and more mature. The cross-border integration of these technologies and toy products will produce different intelligent toys. Compared with traditional toys, intelligent toys have more prominent novelty, entertainment and educational functions for children. In the future, they will surpass traditional toy products and become the development direction of the global toy industry.

4. Strengthen the linkage with the cultural industry

The prosperity of film and television, animation, Guochao and other cultural industries has provided more materials and broadened ideas for the R & D and design of traditional toys. Adding cultural elements to the design can improve the commodity value of toys and enhance consumers’ loyalty and recognition of brand products; The popularity of film, television and animation works can promote the sales of authorized toys and derivatives, shape a good brand image and enhance brand awareness and reputation. Classic toy products generally have cultural elements such as character and story. The popular Gundam warrior, Disney series toys and super Feixia prototypes in the market all come from relevant film and television and animation works.

Post time: Nov-17-2021