Doll, Toy and Game Market Definition
The doll, toy, and game market consists of sales of doll, toy, and game products and related services by entities (organizations, sole traders and partnerships) that produce doll, toy and game products. A doll is a small-scale figure of a human being used as a child’s plaything.i A toy is an object used as a child’s plaything. A game is an activity or a puzzle which usually involves skill, knowledge, or chance and enhances a child’s cognitive abilities. Doll, toy, and game products include action figures, automobile toys, balls, rubber, checkers, checker boards, craft and hobby kits, dart and dart games, dishes, doll carriages, doll clothing (except wigs), embroidery kits, children’s go carts, hobby horses, kites, marbles, model kits, model railroad, musical instruments used as toys, toy rifles, science kits, scooters, structural toy sets, stuffed toys, toy furniture, toy trains and equipment, tricycles, children’s vehicles, video game machines for children including high-end game consoles (only hardware units), wagons, and walkers, among others.
Doll, Toy and Game Market Size
The global doll, toy and game market reached a value of nearly $102.5 billion in 2019, having increased at a compound annual growth rate (CAGR) of 7.1% since 2015. The market is expected to grow from $102.5 billion in 2019 to $128.0 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The slow forecast growth is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is also restrained due to uncertain demand due to impending global recession. The market is expected to reach $153.1 billion in 2025, and $235.5 billion in 2030.
Growth in the historic period resulted from emerging markets growth and live streamers and gaming influencers. Factors that negatively affected growth in the historic period were stringent regulations and increasing costs.
Going forward, increasing popularity of educational and scientific toys, increasing involvement and growing concerns of screen time will drive the growth. Factors that could hinder the growth of the doll, toy and game market in the future include growing privacy concerns, regulatory restrictions to curb video games addiction, reduction in free trade, supply chain disruption due to the impact of COVID-19 and global recession.
Doll, Toy and Game Market Drivers
The key drivers of the doll, toy and game market include:
Increasing Popularity Of Educational And Scientific Toys
The doll, toy and games market is expected to be driven by the increasing popularity of educational and scientific toys for children. Parents of growing children are increasingly investing in educational and scientific toys for their offspring’s to that encourage children to experiment and gain new learning experiences. According to an online survey by Parents’ Choice Foundation and the Michael Cohen Group (MCG) in 2018, around 70% of the respondents classify the toys that they purchased during the past year as educational or learning toys.iii This is expected to drive the market in the forecast period.
Doll, Toy and Game Market Restraints
The key restraints on the doll, toy and game market include:
Regulatory Restrictions to Curb Video Games Addiction
The addiction of video games has increased among children in the last few years, mainly due to the widespread availability of the internet and video games. Video games can have adverse effects on children which are sometimes life threatening. Many countries are imposing regulatory restrictions to control the video game addiction among children and this can hinder the growth of the doll, toy and games market in the forecast period. For instance, in 2019, the Chinese government has announced to impose a curfew on online gaming for minors. Minors will be banned from playing online games between 22:00 and 08:00 hours and only 90 minutes of gaming will be allowed in each day in weekdays and 3 hours of gaming will be allowed in weekends and holidays.
Doll, Toy and Game Market Trends
Major trends influencing the doll, toy and game market include:
Use Of Near Field Communication (NFCs) In Toys
NFC (near field-communication) technology is increasingly being integrated with toys and games to enable interaction and improve engagement. NFC allows users phone to interact within a radius of about 4 cm and provides a wireless connection between devicesv. NFC stickers and inlays can be inserted in game controllers and consoles, as well as physical toys and cards. Users can also link controller and consoles in gameplay by simply tapping the other NFC device. NFC enabled game consoles, NFC enabled cars, NFC enabled board games are some other products that use this technology. For instance, Mattel introduced Hot wheels ]ID, which enable kids to race their NFC-enabled Hot wheels on its smart track and scan their collections into a free iOS app. In the app, which acts as a virtual garage, kids can track speed and laps via infrared sensors in the Hot Wheels Race Portal, which scans your cars and connects to classic Hot Wheels tracks. Sphero, is another company offering NFC enabled cars.
Manufacturers Are Increasingly Investing In Blind Bag Toys
The companies in this market are increasingly investing in blind bag toys to engage children. Blind bags (also referred to as surprise packs or surprise toys) involve small and collectible toys hidden inside opaque packaging. The factors supporting the trend includes social media, wherein unboxing toys has become very popular. Other factors supporting the trend includes low price of the toy, the appeal of collecting and the psychological lure of surprise. Collecting the whole collection of the blind-bag toys is expected to drive the trend. Companies such as Funko and Shopkins initially started marketing blind bag toys but now LOL dolls are amongst the popular blind bag toys.viii
Opportunities And Recommendations In The Doll, Toy and Game Market
Opportunities – The top opportunities in the doll, toy and game market segmented by type will arise in the electronic toys segment, which will gain $45,007.6 million of global annual sales by 2023.The top opportunities in the doll, toy and game market segmented by distribution channel will arise in the online/ internet segment, which will gain $20,103.5 million of global annual sales by 2023. The top opportunities in the doll, toy and game market segmented by type of product will arise in the dolls and accessories segment, which will gain $10,875.3 million of global annual sales by 2023. The top opportunities in the doll, toy and game market segmented by material will arise in the plastic segment, which will gain $11,941.3 million of global annual sales by 2023.
Market-trend-based strategies for the doll, toy and game market include use of near field communication, rising interest in traditional toys, growing trend of blind bag toys, investment in STEM based toys, color changing toys and toys based on popular characters. Companies should also look at investing in eco-friendly toys and investing augmented reality and virtual reality. Player-adopted strategies in the doll, toy and game market includes acquiring emerging technological companies, expanding brand portfolios through new product launches and expanding business operations in other regions.
Recommendations – To take advantage of the opportunities, the business research company recommends the doll, toy and game companies to focus on the production of traditional toys, focus on investing on stem based toys, focus on acquisitions of startups, leveraging e-commerce to maximize reach and revenues, set up authorized distributors and sales representatives, offer competitive pricing, leveraging social media platforms to promote their products, focus on promoting products in schools and promoting products during holiday seasons.
Doll, Toy and Game Market Segmentation
The doll, toy and game market is segmented by type, by material, by distribution channel, by type of product and by geography.
By Type -?
The doll, toy and game market can be segmented by type into
- a. Electronic Toys
- b. Non-Electronic Toys
The non-electronic toys market was the largest segment of the doll, toy and game market segmented by type, accounting for 65.7% of the total in 2019. Going forward, the electronic toys segment is expected to be the fastest growing segment in the doll, toy and game market, at a CAGR of 6.3% during 2019-2023.
By Material -
The doll, toy and game market can be segmented by material into
- a. Plastic
- b. Wood
- c. Metal
- d. Others
The plastic material was the largest segment of the doll, toy and game market segmented by material, accounting for 49.3% of the total in 2019. Going forward, the others material segment is expected to be the fastest growing segment in the doll, toy and game market, at a CAGR of 6.7%.
By Distribution Channel -
The doll, toy and game market can be segmented by distribution channel into
- a. Merchant/Discount Stores
- b. Online/Internet
- c. Toy Stores
- d. Others
The mass merchant/discount stores was the largest segment of the doll, toy and game market segmented by distribution channel, accounting for 38.6% of the total in 2019. Going forward, the online/internet segment is expected to be the fastest growing segment in the doll, toy and game market, at a CAGR of 14.0%.
By Type Of Product -
The doll, toy and game market can be segmented by type of product into
- a. Games and Puzzles
- b. Infant and Pre-School Toys
- c. Construction Toys
- d. Dolls & Accessories
- e. Video Games
- f. Others
The dolls and accessories market was the largest segment of the doll, toy and game market segmented by type of product, accounting for 31.2% of the total in 2019. Going forward, the dolls and accessories segment is also expected to be the fastest growing segment in the doll, toy and game market, at a CAGR of 7.6%.
By Geography-
The doll, toy and game market is segmented into
- o North America
- o Western Europe
- Austria
- Belgium
- Denmark
- Finland
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- UK
- o Asia Pacific
- China
- Australia
- Hong Kong
- India
- Indonesia
- Japan
- Malaysia
- New Zealand
- Philippines
- Singapore
- South Korea
- Thailand
- Vietnam
- o Eastern Europe
- Russia
- Czech Republic
- Poland
- Romania
- o South America
- Brazil
- Argentina
- Chile
- Colombia
- Peru
- Venezuela
- o Middle East
- Saudi Arabia
- Israel
- Turkey
- UAE
- o Africa
- Egypt
- Nigeria
- South Africa
- Ethiopia
- Kenya
- Mozambique
Asia Pacific was the largest region in the global doll, toy and game market, accounting for 31.3% of the total in 2019. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the doll, toy and game market will be the Africa, and Asia Pacific, where growth will be at CAGRs of 14.0% and 11.9% respectively during 2019-2023. These will be followed by Eastern Europe, and Middle East, where the markets are expected to grow at CAGRs of 11.5% and 11.0% respectively.
Doll, Toy and Game Competitive Landscape
Major Competitors are:
- • The Lego Group
- • Mattel, Inc.
- • Hasbro, Inc.
- • Nintendo Co., Ltd.
- • Spin Master Ltd.
Other Competitors Include:
- • Takara Tomy Co. Ltd
- • Bandai Namco Holdings Inc.
- • Simba Dickie Group
- • Ravensburger Group
- • JAKKS Pacific, Inc.
- • LeapFrog Enterprises
- • Aar Kay Trading Co.
- • Aradhana Traders
- • Anand International
- • Bindal Traders
- • Bunti Toys
- • Chuni Lal Gyan Chand
- • Crescent Trading Corporation
- • ESPI Toys
- • Funskool (India) Ltd.
- • Volks, Inc.
- • Foshan Kurhn Toys
- • Sonokong Co, Ltd.
- • A.P. Products
- • A.R. Creations
- • Abhishek Traders
- • Aditya Soft Toys
- • Afterskool Toys And Games Pvt Ltd
- • Ajay Enterprises
- • Ajay Kumar And Bros
- • GFT Group
- • Apex Manufacturing Co., Ltd.
- • Shanda
- • Kongzhong Corp
- • Giant Interactive Group Inc.
- • Perfect World
- • NetDragonWebsoft Holdings Limited
- • ChangYou
- • Ankit Toys Mfg.Co.
- • Game- Ways
- • Jainex Agencies
- • Manas International
- • Masoom Playmates Pvt. Ltd
- • Smart Playthings Pvt. Ltd.
- • Triangle Educational Aids
- • Square Enix Holdings Co., Ltd.
- • Goliath Games
- • Thames & Kosmos
- • Vtech Holdings
- • Sturm Ruger & Company
- • Polaris Industries Inc.
- • Callaway Golf Co.
- • Parkdale Novelty
- • Toyland Company
- • Discovery Toys
- • Happy Worker
- • JRC Toys
- • WowWee
- • Special Need Toys
- • Everest Toys
- • Stortz Ink
- • Custom Plush Canada
- • Estrela
- • Auldon Toys
- • Nerf