DUBLIN–(BUSINESS WIRE)–The “Indian Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The Indian toys market reached a value of US$ 1.35 billion in 2021. Looking forward, the market is projected to reach US$ 2.73 billion by 2027, exhibiting a CAGR of 12.6% during 2022-2027.
Companies Mentioned
- Funskool
- Lego
- Mattel
- Hasbro
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
The existence of toys in India dates back to the Indus Valley Civilization around five thousand years ago. The earliest toys included whistles shaped like birds, toy monkeys which could slide down a string and small carts which were made from materials found in nature such as sticks, clay and rocks.
In recent years, the advent of advanced technology and machinery has encouraged manufacturers to produce modern and innovative toys. India has one of the largest young population in the world, owing to which, the toy industry in the country has witnessed a rapid growth. The market is brimming with a wide array of both traditional and modern toys. However, with evolving trends, there has been a shift from conventional toys towards innovative and hi-tech electronic toys. For instance, Lego has replaced wooden building blocks while Barbie dolls have now taken over traditional cloth dolls.
Driven by a huge consumer base, India represents an important market for toys. With a population of around 1.3 billion, it is the second largest populated country in the world. Moreover, the country has a very large young population with around half of the total population under the age of 25.
The increasing domestic demand for toys in India is also being catalysed by the country’s strong economic growth and rising disposable incomes. India has exhibited strong GDP growth rates for the last several years and now represents amongst the world’s largest economies. Driven by this trend, the middle-class population has experienced strong growth in the region. Consumers have more disposable incomes and their spending patterns have also changed. This has resulted in a major shift from traditional, medium- to low-end battery-operated toys, towards innovative electronic toys, intelligent toys as well as upmarket plush toys.
There are a large variety of toys currently available in the market. The diverse product category ranges from traditional plush toys, construction and building toys, dolls, board games and puzzles to high-end electronic toys, educational toys, ride-ons, etc. There are toys which are domestically produced by small, medium and large manufacturers and also those that are produced from renowned international brands. Each toy category has inexpensive and high-end versions.
Online sales channels have also recently witnessed a boom in India with the evolution of smartphones and other digital media. As quality and features of products can be discussed among shoppers, and prices can be compared on various platforms, online sales channels have appeared to be one of the fastest growing distribution channels for toys in India.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the Indian toys market, along with forecasts at the country and state level from 2022-2027. The report has categorized the market based on toy type, gender and distribution channel.
Breakup by Toy Type:
- Plush Toys
- Electronic Toys
- Games and Puzzles
- Construction and Building Toys
- Dolls
- Ride-Ons
- Sports and Outdoor Play Toys
- Infant/Pre-school Toys
- Activity Toys
- Other Toys
On the basis of the toy type, infant/pre-school toys are the most popular segment as they help develop problem-solving and motor skills among children. Other major toy types include electronic toys, games and puzzles, construction and building toys, dolls, ride-ons, sports and outdoor play toys, plush toys and activity toys.
Breakup by Gender:
- Unisex Toys
- Toys for Boys
- Toys for Girls
Breakup by Distribution Channel:
- Specialty Stores
- Super Markets and Hyper Markets
- Online
- Others
Regional Insights:
- Maharashtra
- Tamil Nadu
- Karnataka
- Gujarat
- Delhi
- Others
Key Questions Answered in This Report
- How has the Indian toys market performed so far and how will it perform in the coming years?
- What are the key regions in the Indian toys market?
- What has been the impact of COVID-19 on the Indian toys market?
- Which are the popular toy types in the Indian toys market?
- Who are the major End-users in the Indian toys market?
- What are the major distribution channels in the Indian toys market?
- What are the various stages in the value chain of the Indian toys market?
- What are the key driving factors and challenges in the Indian toys market?
- What is the structure of the Indian toys market and who are the key players?
- What is the degree of competition in the Indian toys market?
For more information about this report visit https://www.researchandmarkets.com/r/kjps0x
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