Global market for children's toys on course for growth

According to a recent study by The Insight Partners on the "Kids Toys Market Size Report", the market for children's toys is developing positively.

The study predicts that the market for children's toys will grow from 122.90 billion dollars in 2022 to 183.15 billion dollars in 2030. It is expected to grow at a compound annual growth rate (CAGR) of 5.1 percent from 2022 to 2030. Leading players currently include Lego, Mattel, Hasbro, Clementoni, Goliath Games, Giochi Preziosi, Bella Luna Toys, Tomy and the Simba Dickie Group.

What are the reasons for this growth? There are demonstrably more people worldwide. In addition, the preference is shifting from traditional toys to modern and electronic high-tech toys. In addition, the increasing demand for sensory toys for children with special needs and the introduction of intelligent toys are expanding the market. The fact that smart toys utilize technologies such as the Internet of Things (IoT) and smart devices to enhance the learning experience of children is a major contributor to the positive growth. Finally, the advent of mass digitization and social networking has opened up new opportunities for the growth of the children's toy market.

Source: www.dasspielzeug.de and www.theinsightspartners.com