Global Toys and Games Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 4.67% through 2020 to 2027, reaching US$ XX Mn. The report has covered Country market trends with a competitive landscape.
Global Toys and Games Market Overview:
Commercialization of favorite movies & cartoon characters like Spiderman, Ironman, Superman, & Doraemon is the core strategy used by toy companies to attract kids. Growing disposable income is also likely to play a vital role in market development.
Many youngsters like to play video games in their leisure time. Technological inventions like AR/VR headset have led to a surge in the adoption of video games by the youngsters. The introduction of educational gaming has encouraged adults & parents, thereby having an optimistic impact on the market development. The Asia Pacific countries like China & Taiwan are the leading exporters of toys & games globally. Furthermore, major key players are located in Thailand & Japan, wherein cheap & easy to use products are made & exported to many countries.
The rising birth rate, coupled with increasing income, is estimated to provide growth opportunities for the global toys & games market during the forecast period. The rising popularity of FIFA, PUBG, & Counterstrike among teenagers & older people is anticipated to drive the market during the forecast period. A growing number of video game events & spending on video games are likely to drive the market growth in the upcoming years. An increase in the number of players & gamers in the established countries is estimated to propel the demand for video games during the forecast period.