Toys and games are an essential part of many stages of a child’s development. The use of educational toys from a young age can nurture a wide set of skills, with cooperative games further improving communication and conflict resolution skills. The toy and games industry is constantly influenced by changing consumer tastes, with children opting for more sophisticated electronic and interactive toys in recent years. Children are also becoming increasingly accustomed to changing toys more frequently; manufacturers must regularly introduce new product lines while continuing to focus on innovation and technological advancements.
The market is one of many which has been fueled by the coronavirus pandemic. With families stuck at home for weeks on end, consumers have been investing more in various toys and games to keep the whole family occupied. Board and card games played over online video call services have also become the norm amongst friends and families alike.
The value of the toy market worldwide reached almost 95 billion U.S. dollars in 2020, which is an increase of over two billion compared to 2019. A significant share of sales is generated in China, the world's leading exporter, while the U.S. was the world's largest importer.
Despite a slight dip in market revenue towards the beginning of the last decade, the industry looks set to experience constant growth in coming years as toys are an essential part of children's development.
Outdoor and sports toys were the top-selling category within the toy market in the United States, with a market share of around 20 percent. Other popular categories included dolls, infant's toys, games, and puzzles. The outdoor and sports toy category encompasses a large range of products, from water pistols and football nets, to trampolines and sandbox shovels.
Outdoor recreation in the UKDollar sales of toys have maintained double digit growth since When the coronavirus broke out in March 2020, U.S. dollar sales of toys saw considerable growth in the months that followed.
Such growth can be explained by stay-at-home orders issued by governments across the globe. With consumers spending more time at home, toys and games are one way in which to keep people across all age ranges occupied.
In 2021, LEGO was by far the top-ranking toy brand in the world with a brand value of approximately 5.4 billion U.S. dollars. This was some 3.7 billion U.S. dollars more than the next most successful toy brand - Bandai Namco.
The LEGO brand is owned by The Lego Group, a Danish company that employs around 16,000 people and sells their products in over 130 countries globally. The company, together with its subsidiaries, operates in Europe, the Americas, Africa, Asia, and Australia.
Children in North America receive, on average, 300 U.S. dollars' worth of toys each year. Oceania and Europe ranked in second and third places, with an average expenditure of 224 U.S. dollars and 212 U.S. dollars per child, respectively.
Consumer spending on toys is typically at its highest during holiday shopping events. In the U.S., popular shopping periods include Thanksgiving, specifically Black Friday and Cyber Monday, along with the traditional Christmas season.
The toys and games industry is constituted by a wide variety of products intended mainly, but not exclusively, for the entertainment of children. The market focuses on traditional segments like dolls, construction sets, and action figures, as well as card and board games. In recent decades, the market has expanded to include electronic and interactive toys. Some of the big-name industry leaders include Namco Bandai, LEGO, Hasbro, and Mattel.
At Statista, one can find a vast amount of information on the toy industry worldwide, as well as in specific regions and countries. In addition to statistics and studies on overall markets and industry leaders, data can be found on all parts of the supply chain, including manufacturing, retailing, purchase, and spending behavior.
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