Global Toys and Games Market to Reach US$721.2 Billion by 2030

The global market for Toys and Games estimated at US$508.8 Billion in the year 2024, is expected to reach US$721.2 Billion by 2030, growing at a CAGR of 6.0% over the analysis period 2024-2030. Video Game Consoles, one of the segments analyzed in the report, is expected to record a 7.3% CAGR and reach US$250.0 Billion by the end of the analysis period. Growth in the Plastic & Other Toys segment is estimated at 6.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$132.6 Billion While China is Forecast to Grow at 9.2% CAGR

The Toys and Games market in the U.S. is estimated at US$132.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$168.9 Billion by the year 2030 trailing a CAGR of 9.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Global Toys and Games Market - Key Trends and Drivers Summarized

`Toys & Games` industry ranks among the most well-organized and universal businesses worldwide. Growth in the industry is driven primarily by the integration of advanced technologies. Innovations such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) are transforming traditional toys into interactive and educational tools. These technologies enhance the play experience by merging physical and digital worlds, making toys more engaging and appealing to tech-savvy children. The trend is attracting both parents and children, as it combines entertainment with education, promoting cognitive development and keeping children engaged.

Innovations in design and production methods are enabling the creation of unique, educational, and engaging toys. One of the most significant developments in the toy industry is the integration of digital gaming into traditional toys, resulting in hybrid toys that combine physical play with digital experiences. Technological innovations have also led to the creation of interactive toys that utilize augmented reality (AR) and virtual reality (VR) technologies. The industry is also witnessing increasing demand for STEM (Science, Technology, Engineering, and Mathematics) toys. Parents and educators are recognizing the importance of early education in these fields, leading to a surge in toys that promote learning in science, technology, engineering, and math. STEM toys, such as coding robots, chemistry sets, and engineering kits, are designed to develop critical thinking, problem-solving, and creativity in children.

The expansion of e-commerce and digital platforms is revolutionizing the toys and games industry. Online shopping provides consumers with a convenient and wide-ranging selection of products, often at competitive prices. This shift towards digital retail is particularly appealing to busy parents who prefer the ease of browsing and purchasing toys from their homes. Moreover, digital platforms enable companies to engage directly with consumers through targeted marketing and personalized recommendations. Social media and influencer marketing also play a crucial role in this digital transformation, as brands leverage these platforms to showcase their products, reach a broader audience, and create interactive and engaging content. The rise of e-commerce has made it easier for consumers to discover new toys and games, driving sales and fostering industry growth.