Kids Toy Market worth to reach $183.15 Billion globally by 2030
The latest study by The Insight Partners on "Kids Toys Market Size Report, Forecast to 2030 - COVID-19 Impact and Global Analysis - by Product Type, Distribution Channel, and Geography" 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 CAGR of 5.1% from 2022 to 2030.
Competitive landscape and key companies:
KIRKBI A/S, Mattel, Inc, Hasbro, Inc, Clementoni S.p.A, Goliath Games, LLC, Atlas Games, Giochi Preziosi SpA, Bella Luna Toys, TOMY Company, Ltd, Simba Dickie Group GmbH are some of the leading players in the children's toys market. These players are focusing on developing innovative and attractive products in the children's toys market to meet the changing demands of consumers.
Reasons for the growth of the global market for children's toys:
- Growing population worldwide
- Shifting preference from traditional toys to modern and high-tech electronic toys
- Increasing demand for sensory toys for children with special needs and the introduction of smart toys are expanding the market
- Smart toys utilize technologies such as the Internet of Things (IoT) and smart devices to enhance the learning experience of children.
- In addition, the advent of mass digitization and social networking has opened up new opportunities for the growth of the children's toy market.
For more reasons for the growth and various factors influencing the business, please refer to the report in the source description.
Source: The Insight Partners Press Release via globalnewswire.com