United States Toy Industry is expected to grow with a CAGR of 5.1% from 2021 to 2027
The toy industry has been evolving for years and is experiencing exponential enlargement in the United States. This growth is primarily due to increasing birth rate and the high disposable income among its citizens. Thus, a growing number of dual-income households have both parents working tend to equate their absence with many toys and gifts for their kids while they are with their nannies. Moreover, doting parents are actively involved in their children's mental, physical, and emotional development.
Besides, a toy is an object used for entertainment from prehistoric times. The demand for toys has risen in the United States due to concern over the safety of the raw materials utilized in building toys. Parents and educators gradually pick green toys made of eco-friendly natural fabrics like clay, wood, plastic, etc.
COVID-19 Impact on the United States Toys Industry
In the United States, children are more likely to get affected by the COVID due to the tremendous outdoor exposure of their parents during the physical shopping of such items resembled staying indoors. Therefore, the United States toy market saw a strong growth among the high-income and middle-income consumers, leading to key players' many stay-at-home toy product ranges. Throughout the COVID-19 pandemic, the sales of toys and games were increased, driven mainly by online retail products.
Outdoor and Sports Segment Maintains a Major Market Share in the United States
United States, toys range from Action Figures & Accessories, Arts & Crafts, Building Sets, Dolls, Explorative & Others Toys, Games/Puzzles, Infant/Toddler/Preschool Toys, Outdoor & Sports Toys, Plush, Vehicles, and Youth Electronics. These toys have a natural value that adds to children's overall progress. Outdoor and sports segment is a substantial market, as parents are primarily concerned about their kids' health and fitness. This factor fuels the demand for outdoor base products such as pools, play tents, airplanes, and others to support their children in various outdoor activities such as hiking, touring, camping, and others.
Besides, improved visual remembrance and enhanced cognitive skills by participating in 3D puzzles raise the adoption rate of educational puzzles amongst kids in the United States. Developing real-life soft skills such as team spirit, problem-solving skills, and critical thinking in millennials further encourages United States people to adopt games and puzzles.
United States Toys Market was US$ 34.27 Billion in 2021
Based on the sales channel, the United States toys market includes online and offline. Offline sales channels segmented into department Stores, toy & hobby stores, hypermarkets, and others are perfect sales channel for marketing toys in the United States, as shopping at the weekends is selected for many families.
Department stores offer a wide variety of toys, from classic playthings like books, educational toys, arts-and-crafts kits, and puzzles and soft toys, and school gear. Additionally, hypermarkets in the United States are evolving more and more prevalent. A hypermarket is a helpful form of the traditional toys store, a self-service shop delivering many toys.
Regardless, the online sales channels represent one of the fastest-growing distribution channels for toys in the United States with smart phones and other digital media development. As quality and features of products are concerned among shoppers and prices compared on various platforms.
Key Industry Players
Major companies like Mattel Inc, Hasbro Inc, Spin Master Corp., Funko Inc, LEGO Group, Vtech, Nerf, Ravensburger, Nintendo are mainly focusing on expanding their overall product portfolio through regular product innovation activities in the United States. Additionally, they establish partnerships with film production companies and social media channels to build their brand image and offer games as per customer demand.
This report titled United States Toys Market By Segments (Action Figures & Accessories, Arts & Crafts, Building Sets, Dolls, Explorative & Others Toys, Games/Puzzles, Infant/Toddler/Preschool Toys, Outdoor & Sports Toys, Plush, Vehicles, and Youth Electronics), Sales Channel (offline (Department Stores, Mass Merchandisers, Toy & Hobby Store, Hypermarkets and Others)and Online), Company Analysis (Mattel Inc, Hasbro Inc, Spin Master Corp., Funko Inc, LEGO Group, Vtech, Nerf, Ravensburger, Nintendo)" provides complete analysis on in United States Toys Industry.
Segments - Market has been covered from 11 viewpoints
1. Action Figures & Accessories
2. Arts & Crafts
3. Building Sets
4. Dolls
5. Explorative & Others Toys
6. Games/Puzzles
7. Infant/Toddler/Preschool Toys
8. Outdoor & Sports Toys
9. Plush
10. Vehicles
11. Youth Electronics
Sales Channel - Market has been covered from 2 viewpoints
1. Offline
- Department Stores Toys Market
- E-Commerce Toys Market
- Mass Merchandisers
- Toy & Hobby Store
- Hypermarket
- Others Toys Market
2. Online
All companies have been covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. Mattel Inc
2. Hasbro Inc
3. Spin Master Corp.,
4. Funko Inc
5. LEGO Group
6. Vtech,
7. Nerf,
8. Ravensburger, Nintendo
What is the estimated value of the United States Toys Market?
What is the growth rate of the United States Toys Market?
What is the forecasted size of the United States Toys Market?
Who are the key companies in the United States Toys Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 34.27 Billion |
| Forecasted Market Value ( USD | $ 46.18 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
Table of Contents
Companies Mentioned
- Mattel Inc
- Hasbro Inc
- Spin Master Corp.,
- Funko Inc
- LEGO Group
- Vtech,
- Nerf,
- Ravensburger, Nintendo
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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