Opportunities in the global segment

Opportunities for extending in the global segment

There are some opportunities toy makers should know to make more export and extend their potential in the global size.

Digital marketing and growing sales on e-commerce platforms: There are more e-commerce websites than ever, and there has been a greater need for online shopping in the last ten years. The proliferation of e-commerce websites can be attributed to increased internet penetration and accessibility. The bulk of items are now more frequently purchased online by consumers because of the increasing use of smartphones. Due to the rising per capita income, the US, UK, Germany, France, China, Japan, South Korea, and other countries have the highest growth rates. Technological developments in online marketing have greatly improved people’s quality of life worldwide. Many toy company marketers employ fresh web campaigns and use social media marketing techniques to draw in new clients and keep existing ones interested. The media and entertainment sector is vast and has distinct verticals or divisions. Digitization, the globalization of services, rising internet usage, reasonably priced internet data plans, and the availability of many platforms have all changed this industry in recent years.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia-Pacific emerged as the most significant toy market, with a 40.12% market revenue share in 2022.

Asia Pacific region will account for the largest market share with revenue growth. Nations such as India, China and Japan have a tremendous demand for toys due to the growing production of specialized and interactive toys. Further, with rising disposable income, consumers are spending more on entertainment. Many organizations are advertising their products through online sales channels as smartphone users have increased.

Product Type Segment Analysis

The product type segment is divided into outdoor and sports toys, dolls, preschool toys, games and puzzles, building and construction sets and others. The outdoor and sports toys segment dominated the market, with a share of around 38.11% in 2022. Outdoor and sports toys directly impact a child’s weight, immune system, and physical strength. Children who are physically active during their early years are typically more inclined to exercise regularly as adults. Kids who play outside can acquire more advanced motor abilities, such as balance, agility, and coordination.

Age Group Segment Analysis

The age group segment is divided into 0 to 3 years, 3 to 10 years, 10 to 15 years, and above 15 years. The 3 to 10-year segment dominated the market, with a share of around 42.91%. Several preschools and schools provide recreational activities for their students, which can help them in their overall development. There is increasing popularity of several educational games among this age group.

Distribution Channel Segment Analysis

The distribution channel segment is divided into online and offline. The offline segment further includes speciality stores, supermarkets and hypermarkets, departmental stores and others. The offline segment dominated the market, with a share of around 67.22% in 2022. Consumers prefer to visit offline stores to purchase a toy as it helps them physically check the product. There are also several departmental stores nowadays, which is driving the sales of the offline segment.

Some of the Key Market Players:

  • Dream International Ltd.
  • The LEGO Group
  • VTech Holdings Ltd.
  • Sanrio Company, Ltd.
  • JAKKS Pacific, Inc.
  • Playmates Toys Ltd.
  • Mattel, Inc.
  • Konami Holdings Corp.
  • Hasbro
  • Bandai Namco Holdings Inc.

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