Toys Market in India Overview:
According to the latest report by IMARC Group, titled “Indian Toys Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028,” the toy market size in India reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028.
Toys refer to miniature playing objects, models and tools that are especially designed for children. Some of these toys include puzzles, cards, dolls, action figurines, board games, rattles, and mechanical cars. Toys assist in ensuring the brain and motor skills development of infants and young children by enhancing intelligence quotient (IQ), improving concentration and creativity, and promoting their logical and spatial reasoning skills. This, in turn, aids in providing emotional support and refining the problem-solving and cognitive capabilities of children, while cultivating their social and physical attributes. On account of these properties, toys are extensively used in various educational institutions and residential sectors to facilitate overall child development. At present, toys are commercially available in varying sizes and sizes and are manufactured from various materials, including cloth, plastic, and wood.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape with Key Players:
Some of the leading players operating in the market are:
Also Read Full Blog: Toy Manufacturing Companies in India
Indian Toys Market Growth:
The growing population, inflating disposable incomes, and rising spending capacities of consumers are primarily influencing the Indian toys market growth. This is further supported by the increasing demand for various high-quality, entertaining, and science, technology, engineering, and mathematics (STEM)-based toys, such as blocks, puzzles, Rubik’s cubes, and wordplay to ensure optimum brain development in children.
In line with this, the emerging trend of online gaming and the introduction of mobile-based video games due to the proliferation of smartphones, the easy availability of high-speed internet connectivity, and the introduction of various state-of-the-art gaming consoles are acting as other growth-inducing factors.
Moreover, the launch of innovative product variants integrated with advanced technologies, such as artificial intelligence (AI), machine learning (ML), speech and voice recognition properties to help keep children challenged and entertained, while enhancing their cognitive, motor, and physical capabilities are propelling the market growth. Other factors, such as strategic collaborations amongst key players for deploying innovative marketing strategies, such as celebrity endorsements and packing toys in eye-catchy, colorful packaging with hidden surprises, are creating a positive outlook for the market across the country.
Indian Toys Market 2023-2028 Analysis and Segmentation:
Breakup by Toy Type:
- Plush Toys
- Electronic Toys
- Games and Puzzles
- Construction and Building Toys
- Sports and Outdoor Play Toys
- Infant/Pre-school Toys
- Activity Toys
- Other Toys
On the basis of the toy type, infant/pre-school toys represent the most preferred segment.
Breakup by Distribution Channel:
- Specialty Stores
- Super Markets and Hyper Markets
On the basis of the distribution channel, the market has been classified into specialty stores
Breakup by Region:
- Tamil Nadu
- Other States
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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