Educational Toy Market

Educational Toy Market Outlook for 2024 to 2034

The educational toy market is expected to expand at a CAGR of 9.50%. The market value is projected to increase from USD 56,312.10 million in 2024 to USD 1,39,554.3 million by 2034. The educational toy industry share was valued at USD 51,567.90 million at the end of 2023.

Atrribute	Details
Educational Toy Market Size, 2024	USD 56,312.10 million
Projected Market Size, 2034	USD 1,39,554.3 million
Value-based CAGR (2024 to 2034)	9.50%

Top Trends Impacting Market Demand for Educational Toys

• Market entrants are expected to leverage the rising shift toward eco-friendly educational toys by launching toys made of green materials like cardboard, sugarcane, and bamboo. This trend resolves the disposability issue concerning second-hand and out-of-date toys.
• Leading manufacturers are focusing on the safety and durability of these toys to expand their scope in the global market. Players are designing products keeping in mind the strength and vigor required by these toys to endure use and abuse in the hands of children.
• Industry participants are required to comply with government rules and regulations to increase their acceptance in the market. For instance, manufacturers based in the United States are required to adhere to a necessary list of rules and regulations mentioned under ASTM F963, which is short for Standard Consumer Safety Specification for Toy Safety.
• Rising curiosity for smart toys that feature high-tech innovations among an expanding tech-savvy customer base is lifting the market. These toys are embedded with sensors and onboard electronics to make them intelligent. Consumers are willing to pay a premium for these toys due to their convenience of use and personalized instructive approach.

Historical Analysis and Future Outlook of the Educational Toy Industry

Attributes	Details
Historical Market Value (2019)	USD 36,801.40 million
Educational Toy Market Size (2023)	USD 51,567.90 million
Historical CAGR (2019 to 2023)	8.8%

The educational toy market registered a CAGR of 8.8% from 2019 to 2023. The market rose from USD 36,801.40 million in 2019 to USD 51,567.90 million in 2023. Growth factors that supplemented market expansion are as follows:

• Surging adoption of smart toys that stimulate learning and cognition development
• Increasing demand for STEM toys to boost creativity and problem-solving capabilities among children. These toys are effective in increasing brain power by interestingly engaging the children
• Rising parents who are concerned about preparing their kids for future obstacles are likely to contribute to increased sales of educational toys

Sales of educational toys are projected to speed up at a CAGR of 9.5% through 2034. In 2024, the market is estimated to be valued at USD 56,312.10 million. The market is projected to gain a market share of USD 1,39,554.3 million by 2034. Top trends driving market growth are as follows:

• Rising government support to promote indigenous toys is projected to raise employment opportunities for artisans
• Massive online sales of educational toys indicate shifting consumer demand toward digital platforms to compare and analyze the price and attributes of these toys, before buying them online. Players are thus optimizing their websites or tying up with eCommerce partners to enhance user experience and reduce bounce rate.

Historical CAGR (2019 to 2023)	8.80%
Forecast CAGR (2024 to 2034)	9.50%

Country-wise Insights

Country	CAGR (2024 to 2034)
United States	9.30%
Germany	9.70%
China	9.90%
India	10.10%
Australia	10.40%

The United States to Hold a Significant Share in the Regional Market

The United States is an important market for educational toys within North America. The country is anticipated to record a significant CAGR of 9.30% through 2034. Top factors consolidating market’s position on the global platform are as follows:

• Increasing perception about the value of early childhood education among parents residing in the United States.
• Active industry players are launching innovative and intriguing educational toys to promote cognitive development among children. For instance, toy packages like Osmo Genius Starter Kit and LEGO education sets enjoy significant popularity. Their demand relies on their developmental benefits and educational value among parents.

Germany to Emerge as a Salient Educational Toy Market in Europe

In Europe, the market in Germany is anticipated to accelerate at a CAGR of 9.70% through 2034. Germany forms an important market within Europe, driven by constant research activities and demand for intellect-boosting toys. Other factors propelling demand for educational toys are as follows:

• Growing popularity of eco-friendly products among parents and educators is impacting product sales. Greener products find high uptake among discerning population due to health issues posed by synthetic materials. On that score, startups are entering the German landscape to try their luck with green educational toy business.
• Parents in Germany are emphasizing problem-solving skills and creativity to make their offspring future-ready. This factor has been instrumental in raising the popularity of STEM toys and driving up product sales.

Production and Export of Children's Toys Driving the Market in China

The China educational toy market has been estimated to record a CAGR of 9.90%, slightly behind India’s growth rate. Key factors augmenting product sales are as follows:

• Promising growth prospects as population in China continues to climb.
• Significant production and export of children's toys are projected to raise revenue of leading manufacturers in China. The growing industrial activities post the lockdown has been instrumental in bringing the sales of toys in the country back to normal.
• Uprooting of one-child policy in China is also a significant element that is influencing sales of educational toys in the country.

Manufacturers in India Capitalizing on the Increasing Popularity of STEM Toys

In Asia Pacific, India is emerging as a significant market for educational toys. The market in India is predicted to rise at a CAGR of 10.10% through 2034. Increasing investments in the country are leading toward market development. Market dynamics in India are as follows:

• Learning and education toys in India are witnessing considerable government support. This is further augmented by surging demand to increase domestic toy manufacturing to meet unsatiated demand.
• Increasing efforts by Government of India (GoI) to promote the indigenous toy industry is expected to increase the market value of these toys. In February 2023, the Ministry of MSME implemented different schemes to provide credit support for new enterprise creation, skill development, technology upgradation, etc. One such scheme that approved 19 toy clusters is Scheme of Funds for Regeneration of Traditional Industries (SFURTI).

Investors and Stakeholders Eyeing the market in Australia to Gain Higher Profits

The Australia educational toy market is anticipated to surge at an accelerated pace of 10.40% through 2034. The top factors that are contributing to product sales in Australia are as follows:

• Integration of the latest technology in educational toys is boosting the learning process by increasing interaction and engagement. These toys are gaining popularity owing to their technology-driven features, which combine play and educational content. Thus, making learning fun.
• Market players are responding to the emerging trends of sustainable educational toys by developing and advertising eco-friendly and socially responsible products. Green toys are developed via eco-conscious manufacturing and distribution practices, as well as sustainable materials.

Category-wise Insights

Games and Puzzles Acquire a Sizeable Share in Educational Toy Market

Leading Product Type	Games and Puzzles
Market Share (2024)	19.90%

The games and puzzles segment is expected to acquire a market share of 19.90% in 2024. A rising number of parents are opting for games and puzzles to promote spatial awareness, problem-solving skills, and nurture creativity. These educational toys encourage early childhood development. Some commonly purchased games and puzzles include LEGO, Maze Magnetic Game, HABA Town, etc.

Higher Sales of Educational Toys through Toy Stores

Leading Sales Channel	Toy Stores
Market Share (2024)	26.70%

The toy stores segment is projected to account for a prominent share of 26.70% in 2024. Their attractiveness lies in their trained staff, who are knowledgeable about toy features and functions and appropriately recommend parents to make purchase decisions.

Top Tactics of Leading Players to Stay Ahead of the Competition

Manufacturers of learning and educational toys are competing against small and large-scale players to enhance their position in the market. Leading players are employing tactics like mergers and acquisitions, innovation, product launches, and promotions to stay ahead in the market. The latest developments in the educational toy market are as follows:

• In July 2022, Mattel and Elon Musk’s SpaceX collaborated to debut a line of space-themed toys under its Matchbox brand.
• In June 2021, Melissa & Doug reportedly announced the launch of Timeless Toys, which is a new marketing campaign. This move is intended to increase its visibility among parents and make them familiar with their products via digital platforms like YouTube, Hulu, and Amazon.

Prominent Companies in the Educational Toy Market

• The Lego World
• Hasbro
• Ravensburger
• Melissa & Doug
• Mattel
• Spin Master
• VTech Holdings Limited
• Osmo (by Tangible Play
• Sphero, Inc.
• MindWare, Inc.
• Fat Brain Toys, LLC.
• Others

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 5.1. Arts & Crafts
  • 5.2. Role Play
  • 5.3. Games & Puzzles
  • 5.4. Motor Skills
  • 5.5. Musical Toys
  • 5.6. Stem Toys
  • 5.7. Other Toys
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age Group
  • 6.1. Up to 4 Years
  • 6.2. Between 4 and 8 Years
  • 6.3. Above 8 Years
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
  • 7.1. Supermarkets & Hypermarkets
  • 7.2. Specialty Stores
  • 7.3. E-commerce
  • 7.4. Others
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Mattel
  • 18.2. CocoMoco Kids
  • 18.3. Melissa & Doug
  • 18.4. Ravensburger
  • 18.5. The Simba Dickie Group
  • 18.6. TOMY
  • 18.7. JAKKS Pacific, Inc.
  • 18.8. GoldLok Toys
  • 18.9. WowWee Group Limited
  • 18.10. LEGO System A/S
• 19. Assumptions & Acronyms Used
• 20. Research Methodology