A toy is an object that kids mostly use for play. Playing with toys helps kids acquire lifelong abilities that they will need in the future. Playing with toys is a standard pastime for kids with educational value because it teaches them many essential life skills, such as how to solve problems. Toys range from the most basic to the most intricate, from a child's chosen stick they assume to be a hobby to elaborate and sophisticated mechanical systems. The development of coordination and other manual abilities stems from children's cumulative experiences handling toys like marbles, jackstones, and other objects that must be dealt with both hands and bodies. Spatial relationship puzzles test mental agility starting in early childhood.
United States Toys Market Growth Trends
The growing trend of educational toys that encourage STEM (science, technology, engineering, and math) skills results from parents' desire to improve their kids' education from a young age. The United States toys market is expanding because of this.Given that play is essential to children's learning and development, 81% of parents are inclined to ensure their children have at least one educational toy, per the Toys Association.
It also says that almost two out of every three parents (65%) will consider how the toy they select helps develop a skill set, especially when it comes to enhancing children's comprehension of STEAM concepts and even everyday tasks like cleaning, cooking, sewing, and baking. When purchasing a toy for their child, slightly more than half (51%) of parents also consider mental health.
The US toys industry is also seeing a rise in demand for environmentally friendly toys. Customers favor businesses that offer these kinds of goods.
In a survey of American parents conducted by the Toy Association, 45% of parents under 40 took the environment into account when choosing a toy.
According to a Deloitte 2023 Sustainable Consumer research, durability (i.e., quality over quantity) is what consumers care about most regarding sustainability and product purchases (58%).
A positive US toys market outlook is provided by the increasing integration of virtual reality (VR) and augmented reality (AR) into toys to provide immersive play experiences. Thanks to these technologies, kids can play in virtual worlds creatively, combining real-world and digital play.
In November 2023 - Verizon launched an interactive augmented reality experience with Toys for Tots in honor of Disney's newest film, "Wish."
For many people, collecting hobby toys has become a popular pastime. Building a collection of these objects, which range from rare rarities to action figures, has an innate appeal, driving the toys market in the US. Nostalgia is a significant factor in why people are driven to collect hobby toys. Playthings from childhood typically have sentimental importance, and gathering them as adults helps us connect to the past.
In the holiday season, 89% of parents polled by the Toy Association buy adult toys, with 43% purchasing gifts for their partner or spouse. In addition, 53% of the men surveyed and 48% of millennial parents under 40 will buy toys for themselves.
United States Toys Industry News
The prominent companies in the United States toys market are Mattel Inc., Hasbro Inc., LEGO, Spin Master Corp., Vtech, Nintendo Company Ltd., Funko Inc., and JAKKS Pacific.In December 2023 - A New Wave of "X-Men 97" Figures Unveiled by Hasbro. Early in 2024, pre-orders for the newest Marvel Legends Series figures will be accepted.
In November 2023 - Fat Brain Toys, one of the top direct-to-consumer toy companies in the country, released its list of the 2023 Hottest Toys. Foosbots are collectible and portable robots that spin to kick a ball when you squeeze their arms. Other toys include SpillAgain, VolleyShot, Trestle Tracks Pro, and new additions to their Pretendables line of pretend play. Air Toobz is a kid-safe turbine that shoots foam balls through modular tubes.
In September 2023 - Toys"R" Us®, the parent company of WHP Global, has ambitious new ambitions to grow the renowned toy brand. The company stated that it will open Toys"R" Us flagship locations nationwide in 2024 thanks to a partnership with Go! Retail Group. WHP also plans to introduce Toys"R" Us to the travel sector by creating a new shopping experience for cruise ships and airports. In November, Dallas Fort Worth International Airport will have the first Toys"R" Us airport store, thanks to a collaboration with Duty-Free Americas.
In July 2022 - Mattel and SpaceX, owned by Elon Musk, collaborated to introduce a new line of space toys.
By Toys Segmentation - Market is broken up into 11 viewpoints:
1. Action Figures & Accessories2. 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
By Sales Channel - Market is broken up into 5 viewpoints:
1. E-commerce2. Specialty
3. Discounters
4. Department Stores
5. Others
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
1. Mattel Inc.2. Hasbro Inc.
3. LEGO
4. Spin Master Corp.
5. Vtech
6. Nintendo Company Ltd.
7. Funko Inc.
8. JAKKS Pacific
Table of Contents
Companies Mentioned
- Mattel Inc.
- Hasbro Inc.
- LEGO
- Spin Master Corp.
- Vtech
- Nintendo Company Ltd.
- Funko Inc.
- JAKKS Pacific
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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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 28.09 Billion |
| Forecasted Market Value ( USD | $ 41.06 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
