Learning and Education toys Global Market Report 2024

The learning and education toys market size has grown strongly in recent years. It will grow from $54.33 billion in 2023 to $58.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed in the historical period is linked to the emergence of educational philosophy, a focus on STEM education, advancements in construction toys, the proliferation of educational TV and media, and increased demand for language and literacy toys.

The learning and education toys market size is expected to see strong growth in the next few years. It will grow to $75.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period is associated with educational subscription services, the prevalence of cross-curricular and multifunctional toys, increased parental involvement with a focus on educational value, global expansion into emerging markets, and innovations in augmented reality (AR) and virtual reality (VR) toys. Prominent trends in the forecast period encompass a worldwide shift in education approaches, a heightened emphasis on STEM and STEAM education, the prevalence of interactive and technology-integrated toys, a focus on sustainability and eco-friendly toys, and an increased emphasis on early childhood development.

The increasing preference for educational and strategy-based toys among children is fueling the expansion of the learning and education toys market. Educational toys, specifically designed for children, serve as play objects that promote learning and are crafted to fulfill educational objectives, aiding in subjects' understanding or skill development. Likewise, strategy-based toys contribute to enhancing a child's skills. For example, a survey conducted by The NPD Group in August 2021 reported a 19% surge in U.S. toy industry dollar sales from January to June 2021, reaching $11.0 billion in total sales and witnessing substantial growth of $1.7 billion. Outdoor and Sports Toys led in dollar gains, securing a $280 million increase, with Plush displaying the fastest dollar growth compared to 2020 at 39%. Thus, the growing demand for strategy-based and educational toys among children is a pivotal driver for the learning and education toys market.

The surge in online shopping is fueling the expansion of the learning and education toys market. Online shopping, the process of buying goods or services through internet platforms, enhances the accessibility of educational toys by providing a broader selection, reviews, and convenience. This, in turn, facilitates a more informed decision-making process, contributing to the increased reach and growth of the learning and education toys market. An illustrative example is the data from August 2023, reported by the UK's Office for National Statistics and the National Statistical Institute. The statistics revealed that a shift to online shopping, driven by heightened promotions and adverse weather conditions, resulted in 27.4% of retail sales occurring online in July 2023, up from 26.0% in June 2023. This represents the highest percentage since February 2022 (28.0%). Consequently, the upswing in online shopping is propelling the expansion of the learning and education toys market.

Embedded smart technology in learning and educational toys is gaining prominence within the learning and education toys market. Smart toys, imbued with a degree of artificial intelligence, possess the capability to learn, adapt their communication with users, respond to external stimuli, and follow pre-programmed patterns. These toys empower children to shape their play experiences and serve as valuable educational tools. Key players in the learning and education toys market are strategically focusing on the development of smart toys to capture a larger market share. For example, in May 2021, Makeblock, a private Chinese technology company, introduced Codeybot, an educational robot designed to teach children basic programming through an array of intuitive features. Additionally, in May 2021, the American multinational toy manufacturer Mattel launched the Hot Wheels AI Street Shaker smart car and gaming controller. This innovation facilitates the inclusion of more players in the set, extending the racing experience. With the AI starter kit, players can follow the smart track, engage in independent races in AI mode, or navigate off-track in RC mode.

Major players in the lateral flow assay market are committed to creating adaptable products such as lateral flow readers to provide convenient on-the-go testing solutions and establish a competitive edge. A lateral flow reader is a portable device used for swift and qualitative analysis of lateral flow assays, ensuring effective results in various testing environments. For instance, in December 2021, Eurofins Technologies, a provider of diagnostic technologies based in Luxembourg, unveiled the RapidScan ST5-W lateral flow reader. This introduction aimed to address the growing demand for a flexible, user-friendly, and accurate imaging platform for on-the-go testing in food and environmental settings. The instrument, compatible with a range of lateral flow tests, is engineered to deliver prompt and reliable results for contamination analysis, catering to the requirements of both laboratory and field environments.

In January 2022, Everi Holdings Inc., a U.S.-based provider of casino gaming content and products for both land-based and digital platforms, announced its agreement to acquire specific assets, including intellectual property and game development technology, from Atlas Gaming Pty Ltd and Atlas Gaming Technologies Pty Ltd. The financial details of the transaction remain undisclosed. This acquisition is set to enhance Everi's existing game production studios and portfolio of titles, positioning the company for future expansion into new international markets. As part of this asset acquisition, members of the Atlas development and engineering team will become part of Everi. Atlas Gaming, headquartered in Australia, is a developer and provider of proprietary gaming content and products.

Major companies operating in the learning and education toys market report are The LEGO Group, Bandai Namco Holdings Inc., Hasbro Inc., VTech Holdings Limited, Atlas Games, Scholastic Corporation, TOMY Company Ltd., Fisher-Price Inc., Crayola LLC, Goliath Games, Melissa & Doug LLC, LeapFrog Enterprises Inc., Clementoni S.p.A., PlayMonster LLC, MindWare Holdings Inc., Ravensburger AG, Hape International Inc., Elenco Electronics Inc., Educational Insights, Fat Brain Holdings LLC, ThinkFun Inc., Geomagworld SA, Learning Without Tears, Alex Brands, Creativity for Kids, The Learning Journey International LLC, K'NEX Brands L.P., Galt Toys, Roylco Inc., Learning Wrap-Ups Inc., Be Amazing! Toys, OWI Inc., 4M Industrial Development Limited National, Geographic Partners LLC, Uncle Milton Industries Inc., Scientific Explorer.

Asia-Pacific was the largest region in the learning and education toys market in 2023. The regions covered in the learning and education toys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the learning and education toys market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary offerings in learning and education toys encompass building sets, games, and puzzles, along with sports and outdoor toys. Building sets play a vital role in fostering problem-solving skills and hand-eye coordination. For preschoolers, these sets serve as a means to exercise their imaginations, allowing them to construct buildings, vehicles, animals, and more from simple construction sets. Learning and education toys are segmented based on age groups, with categories for up to 5 years, 5 to 10 years, and above 10 years. These toys are accessible through various distribution channels, including hypermarkets/supermarkets, specialty stores, departmental stores, and online platforms.

The learning and education toys market research report is one of a series of new reports that provides learning and education toys market statistics, including learning and education toys industry global market size, regional shares, competitors with a learning and education toys market share, detailed learning and education toys market segments, market trends and opportunities, and any further data you may need to thrive in the learning and education toys industry. This learning and education toys market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The learning and education toys market consists of sales of bricks &blocks, pull along toys, teaching clocks, learning system cartridges, diaries & poetry albums, magnetic letters & words. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this learning and education toys market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.