The anticipated size of the global traditional toys and games market in 2022 was valued at USD 93,847.9 million. One of the main factors boosting the global rise in the traditional toy sector is the increased acceptance of building toys among the adult children to improve their ability to learn. It is thus likely to have produced USD 139,013 million by 2033, alongside a CAGR of 3.6% from 2023 to 2033.
Demand for conventional toys and games is picking up as parents become increasingly aware about the cognitive benefits of building toys. While mobile-based gaming is expected to enjoy the limelight, increasing availability of traditional toys via online channels will continue supporting the traditional toys and games market growth.
The majority of millennials are increasingly drawn to buying miniatures, puzzles, as well as action figures based on their favorite comic book heroes along with cartoon characters. Millennials' shopping habits are being influenced by depictions of these characters in films, television shows, novels, and comic books because they want to own these distinctive items.
Leading toy companies are leveraging this development by focusing on the interests and memories of the target market to forge deeper emotional ties. By building a theme around well-known characters and themes from the 1980s and 1990s, toy manufacturers are selling toys and games that transport the audience back in time. Such factors are mostly responsible for propelling the growth all throughout the world during the forecast period.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 93,847.9 million |
| Expected Market Value (2023) | USD 97,601.8 million |
| Projected Forecast Value (2033) | USD 139,013 million |
| Anticipated Growth Rate (2023 to 2033) | 3.6% CAGR |
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Sales of traditional games and toys increased at a 3.3% CAGR between 2018 and 2022, finds FMI. Demand for traditional games and toys for at-home entertainment increased at a significant pace due to the lockdown restrictions imposed to curb the COVID-19 outbreak.
Manufacturers actively shifted towards online sales channels to keep sales of traditional toys and games afloat as physical stores were temporarily shut down. The global traditional toys and games market registered year-over-year growth by 2.3% between 2021 and 2022. Conventional toys are games are often crucial to support early childhood education in classrooms.
Teachers use traditional toys such as puzzles, construction sets, and other educational toys to stimulate play and cognitive development. These toys also help keeping children engaged and boost their curiosity and ability to explore and grasp knowledge about new shapes and elements.
Educational institutes across the globe are focusing on mental and physical learning. Educational toys are gaining traction, especially in preschools, kindergarten and middle school. This is expected to propel demand for traditional toys and games. A huge chunk of the millennial population is getting keen on obtaining traditional toys, figurines and puzzles as collectibles. This factor is encouraging manufacturers to re-launch traditional games, featuring legendary characters inspired by pop culture.
As per the traditional toys and games industry analysis, sales in the market is expected to grow at a 3.6% CAGR through 2033 on the back of the aforementioned trends.
Cognitive Benefits of Traditional Toys and Games Driving Sales
Cognitive development in children involves thinking skills, the ability to process information and a basic understanding of how the world works. Toys and games naturally offer opportunities for children to practice different thinking skills, such as cause and effect, imitation, symbolic thinking and problem solving.
For instance, when a teacher guides children how to use simple objects like pots and pans as drumming instruments, they imitate the teacher and make a sound of their own. Offering opportunities like this allows children to practice imitation, understand cause and effect and to discover new elements. Sensory play helps stimulate a child’s senses, develops hand-eye coordination and encourages interaction. Problem solving toys such as light-up mats, stackers and blocks and others help children figure out cause and effect, and boost their confidence through trial and error while promoting movement.
Themed playsets, construction sets and dolls help children develop their recognition skills. These toys also assist with language development by reinforcing the names of colors and shapes. Consumers, especially millennial parents, are widely recognizing the need for traditional toys and games for the development of their children’s cognitive abilities. These toys are being used not only in schools but also at homes, preschools, playpens, and babysitting facilities. Sales of traditional toys and games are expected to propel at a remarkably over the forecast period.
Pop Culture to Influence Spurring Demand for Traditional Toys and Games
Millennials are largely getting inclined towards purchasing figurines, puzzles and action figures of their favorite cartoon characters and superheroes. Depiction of these characters in movies, television shows, books, and comics are influencing purchasing decisions of millennials, as they want to have these unique collectibles in their collection.
Leading toy brands are capitalizing on this trend by honing in on the target audience’s memories and interests to develop stronger and emotional connections. Toy makers are realizing the significance of a visual language that connects to the experience of their past. They are offering toys and games that take the audience down the memory lane, by creating a theme around popular themes and characters from the 80s and 90s.
Millennials seek toys and games that feature pop culture references, which include Legos, Transformers, Star Wars and Strawberry Shortcake for their kids as parents who grew up in the 80s. Watching these shows and buying these toys connects millennials to their past and gives them a hint of nostalgia. These consumers also want their kids to have a similar experience as a mean to establish a shared memory.
For brands and marketers, it can lead to brand loyalty and increased sales. Apart from this, popular movies such as harry Potter, Shrek, Toy Story and Cars have rocked the box office as well as retail shelves with interesting tie-in figurines and games. In 2020, Leading pop culture consumer products and toys company Funko launched ‘Marvel Battleworld: Mystery of the Thanostones’, a micro table gaming system. The company collaborated with animation production and comics house Marvel to engage their younger fans and adults with a new range of products and animation collaboration.
Collecting such toys, puzzles and figurines is a trending hobby among millennials, young adults, and children under the age group 11 to 14. Sales of traditional toys and games are expected to soar in the forthcoming years, opines FMI.
Demand for Construction Games is Anticipated to Gain Momentum
Based on product type, sales of construction games are expected to gain traction over the assessment period, as per FMI. The construction games acquired a 17.2% market share in 2022. Construction games are popular among kids and young adults as they require creativity and decision making regarding the placement of objects and components.
Leading toy makers such as Lego and Hasbro have launched a myriad of construction games in the past that are still popular among individuals. Hasbro’s Jenga is a crowd favorite, and many similar toys and games are gaining attention of consumers as they can be played in a group or alone.
The Plastic Materials is the Most Sought-after Material Globally
In terms of material type, plastic is expected to emerge as the most preferred material for manufacturing toys and games. Plastic has been used in the toy manufacturing industry for many years due to factors such as low costs, ease of molding, and the possibility of producing complex shapes and forms.
Manufacturers operating in the traditional toys and games market are also focusing on research development to launch toys made form biodegradable plastic. Manufacturer are also using biodegradable plastics for packaging of games and toys to reduce carbon footprint.
The 3 to 4 years Age Group is likely to be More Attracted towards these Games
Sales of traditional toys and games for the age group 3 to 4 years are expected to gain traction over the assessment period, finds FMI. Demand for traditional toys and games for education purposed is increasing for children in this age group, which will continue providing tailwinds to sales of the same over the assessment period.
3 to 4 year olds are in their early stages of mental and physical development. Educational toys and games facilitate the development of cognitive abilities and decision making in children, which in turn will continue propelling sales of traditional toys and games through 2033.
The Hypermarkets/Supermarkets Sales Channel is Likely to be Highly Preferred by the Consumers
In terms of sales channels, the hypermarkets/ supermarkets is expected to expand at a steady pace over the assessment period. The hypermarket/supermarket sales gained a 25.6% market share in 2022. Growth in this segment is attributable to availability of a wide range of toys and games, along with convenience of choice, a wide array of things to choose from and payment options.
To keep themselves entertained at home, consumers were actively buying games and toys through this sales channels. This trend is predicted to continue in the forthcoming years, augmenting growth of the traditional toys and games market over the forecast period.
The Urge to Indulge the Kinds in Various Activities is Likely to Boost the Market Growth
In 2022, sales of traditional games and toys increased due to lockdown restrictions. Consumers were increasingly purchasing dolls, puzzles and model vehicles to keep their children engaged and entertained. Sales of traditional toys and games among adults also grew at a significant pace, as home-bound individuals wanted to pass time.
The United States will continue exhibiting high demand for traditional toys and games over the forecast period. The country accounted for a 16.4% market share in 2022. As per the study, sales of traditional toys and games in North America are slated to grow at a 2% CAGR through 2033.
Licensing and branding of traditional toys and games with popular franchise is also a key factor driving sales in the United States market. For instance, one of the most popular toy makers in the world, Hasbro, has licensed its toys and games with Transformers and Back to the Future that transform the DeLorean car featured in the movie just like a transformer.
Hasbro launched a unique product that grabbed the attention of kids as well as millennials by combining both of these elements from these famous movies. These developments are indicative of lucrative growth prospects for players operating in the traditional toys market in the United States.
Rising Trend towards Digitalization of Traditional Toys might Enhance Sales
Demand for traditional toys and games in the United Kingdom is expected to grow at a steady pace, on the back of growing trend of ‘home-entertainment’. As per FMI, the traditional toys and games market in Europe is forecast to expand at a 4.7% CAGR over the assessment period.
Digitalization of traditional toys and games is also expected to fuel growth of the market in the United Kingdom. Rapid adoption of smartphones, tablets, gaming consoles and other smart devices is broadening the scope for sales of toys and games through online channels. Brands are also using technologies such as virtual reality (VR) and artificial intelligence (AI) to attract consumers’ attention.
LEGO VIDIYO, for instance, is a music video making toy that enables children to star in their own music videos alongside Lego sets and mini figurines. These product developments are combining digital and physical worlds through connective technology, which is likely to gain traction in the forthcoming years. Demand for traditional toys and games is expected to remain high owing to the above-mentioned factors in the United Kingdom through 2033.
Increasing Consumer trend towards Collectibles is likely to propel Growth
Growing preference for eCommerce for purchasing traditional toys and games in China is expected to place it as an attractive market with a 7.1% CAGR during the assessment period. Even after the resumption of trade activities in China, consumers are buying essentials and non-essential commodities through online channels.
Rising trend of collectibles is also fueling sales of traditional toys and games in China. Consumers are seeking limited edition games, action figures, toys and puzzles to expand their collection, which in turn is spurring demand for the same. This trend is expected to continue over the forecast period.
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The top traditional toys and games producers are focusing on expanding their product portfolio by launching new products through online sales channels. Apart from this, leading companies in the traditional toys and games market are aiming at strengthening their global footprint through mergers, strategic collaborations, and acquisitions. For instance:
The key players in this market include:
Some of the products being launched by the key players are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.6% from 2022 to 2032 |
| Market value in 2023 | USD 97,601.8 million |
| Market value in 2033 | USD 139,013 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Material, Age Group, Sales Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Japan, China, Singapore, Thailand, Indonesia, Israel, GCC Countries, South Africa, Australia, New Zealand |
| Key Companies Profiled | Dream International Limited; Hasbro, Inc.; Jakks Pacific Inc.; Mattel, Inc.; Lego A/S; BANDAI NAMCO Holdings Inc.; LeapFrog Enterprises, Inc.; Spin Master Corp; Tomy Co., Ltd.; Playmates Toys Limited; Games Workshop Group PLC; Kids Ii Inc.; Madame Alexander Doll Company LLC; Mega Brands Inc.; Melissa & Doug Inc.; Funskool (India) Limited; Funko LLC; K'NEX Brands, L.P.; Ravensburger AG; MGA Entertainment, Inc. |
| Customization & Pricing | Available on Request |
The traditional toys and games market CAGR 2033 is 3.6%.
The market is estimated to secure a size of USD 97,601.8 million in 2023.
The projected value of the market for 2033 is USD 139,013 million.
Key players are developing the market by introducing innovative products.
Due to the increasing demand for educational and sustainable toys.
| Estimated Market Size (2024E) | USD 10,543.9 million |
|---|---|
| Projected Industry Value (2034F) | USD 21,243.6 million |
| Value-based CAGR (2024 to 2034) | 7.3% |
| Market Size, 2023 | USD 12,476.1 million |
|---|---|
| Market Size, 2033 | USD 19,190.4 million |
| Value-based CAGR, 2023 to 2033 | 4.4% |
| Market Size (2023) | USD 2.89 billion |
|---|---|
| Market Size (2033) | USD 5.90 billion |
| Market CAGR (2023 to 2033) | 7.4% |
| Market Size (2022) | USD 71,305.3 million |
|---|---|
| Market Size (2032) | USD 156,774.9 million |
| Market CAGR (2022 to 2032) | 8.2% |
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