The demand for the learning and education toys market is expected to increase during the forecast period. This is attributed to the benefits associated with learning and educational toys that help improve children’s skills and learning. This in turn has propelled the growth of the overall learning and education market.
According to a new report released by Allied Market Research, titled “learning and educational toys market By Product Type, Age Range, Sales Channels, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030, ”The global learning and education toys market is valued at 49,973, $ 1 million in 2020 and is expected to reach $ 81,295.2 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.
The increase in the number of game bars, cafes and family entertainment centers around the world is driving the demand for toys and games. These family entertainment centers, game bars and cafes are enjoying strong traction and have gained remarkable popularity across the world in recent years. The rapid expansion of games in cafes encourages children as well as adults to learn new games while also connecting for meaningful social interactions. In the United States, more than 5,000 board game cafes were opened in 2016. In addition, there were over 700 game cafes in China and in 2017, around 60 game cafes were opened alone. in Beijing. The increase in the number of such cafes and entertainment centers which cater to both children and adults is helping to generate high income for players operating in the global learning and education toys market.
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Engaged industry players are striving to make more environmentally conscious decisions about their product portfolio, especially in terms of toy packaging. The actors focus on a minimalist use of plastic in their products. A plethora of initiatives have been launched in recent years, ranging from adopting recycled packaging materials and minimal packaging to adopting bio-based plastics instead of their petroleum equivalent. For example, MGA Entertainment introduced a new biodegradable ball as a new product in their LOL Surprise! Doll line. In addition, it also introduced a new product line from Little Tikes using a blend of recycled resins as a raw material. Another company, Safari Ltd. offers the BioBuddi line of toy blocks, much like Mega Bloks and Lego, which use sugar cane in the production and making of toys. Such practices adopted by stakeholders pave the way for more sustainable and environmentally friendly products in the future.
The Asia-Pacific region market offers lucrative growth opportunities for the market players. The large consumer base as well as the increasing disposable income of consumers provide lucrative opportunities for market players. This region offers potential opportunities for market players to launch educational and learning toys.
The coronavirus outbreak has negatively impacted the learning and educational toy industry as well as all stages of the supply chain and value chain. Supply chains today are much more complex than they were ten years ago. The COVID-19 pandemic has not only hampered production facilities, but also disrupted supply chains such as hardware suppliers and distributors in the global learning and educational toys market, resulting in the loss of the company in terms of sales value.
The global educational learning and learning and educational toys industry has been deeply affected by the coronavirus outbreak. The outbreak was first observed in China, leading to the lockdown and halt of production activities across the world. Demand for toys and games is expected to decline slightly globally, due to supply chain disruptions and the closure of playgroup schools, children’s play centers and entertainment around the world.
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The learning and educational toys market is segmented into product type, age group, sales channel, and region. By product type, the global market is categorized into action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush, and others. By age group, it is studied up to 5 years, 5 to 10 years and above 10 years. By sales channel, the market is divided into hypermarket / supermarket, specialty stores, department stores, online channels, and others. By region, the market is analyzed North America, Europe, Asia-Pacific, and LAMEA.
Main conclusions of the study
By region, Asia-Pacific is expected to grow at a robust CAGR of 7.1% during the forecast period.
By product type, the sport and outdoor toy segment leads the market share in 2020 and is expected to gain market share in the coming years.
By age group, the 5-10 year old segment accounted for the maximum market share of the learning and educational toys market in 2020 and is expected to grow at the highest CAGR during the forecast period.
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By sales channel, the online channels segment is expected to gain market share in the coming years and is expected to grow at a CAGR of 6.5% during the forecast period.
Companies can operate in a highly competitive market by launching new products or updated versions of existing products. Agreement with key stakeholders should be a key strategy to maintain in the market. In the recent past, many leading players have opted for product launch strategies to strengthen their presence in the market. To understand the major trends in the Learning and Educational Toys market, the strategies of major players are analyzed in the report. Some of the major players in Learning and Educational Toys Market Analysis include Atlas Games, Clementoni SpA, Goliath Games, Hasbro, Inc., The LEGO Group, Mattel, Inc., Ravensburger AG, Tomy Company, Ltd, Vtech Holdings and Thames. & Cosmos.