Doll, toy, and Game Global Market Report 2024

The doll, toy, and game market size has grown strongly in recent years. It will grow from $132.86 billion in 2023 to $145.49 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%.The growth observed in the historic period can be attributed to several factors, including tie-ins with media and entertainment, heightened demand during seasonal and holiday periods, globalization and licensing, the influence of parental preferences on purchases, and effective retail merchandising strategies.

The doll, toy, and game market size is expected to see strong growth in the next few years. It will grow to $207 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. Forecasted growth is driven by diverse representation, e-commerce dominance, parental focus on STEM toys, social media impact, global toy safety standards, and the resurgence of nostalgic toys. Key trends include eco-friendly toys, educational/STEAM toys, collectibles, toy subscriptions, and robotics/coding toys.

The market for manufacturing dolls, toys, and games stands to benefit from the expected sustained economic growth in both developed and developing countries. According to the International Monetary Fund (IMF), global GDP grew by 3.3% in 2020 and by 3.4% in 2021. The projected rise in commodity prices, following a significant decline, is expected to be a key driver of economic expansion. The United States is anticipated to maintain stable economic growth over the forecast period. Additionally, emerging markets are forecasted to grow slightly faster than developed ones during this time. This increased economic growth is likely to stimulate both public and private investments, as well as foster joint ventures and foreign direct investments in end-user markets, thereby contributing to the market's growth throughout the forecast period.

The doll, toy, and game market are poised for growth due to the increasing prevalence of online shopping and the rise of e-commerce platforms. E-commerce, which involves the electronic buying and selling of goods and services over the Internet, is becoming a dominant force in retail. Dolls, toys, and games offer visually engaging and interactive experiences in the online shopping realm, capturing and retaining customers on e-commerce platforms. Moreover, these products leverage user reviews and recommendations, enriching the decision-making process for online shoppers. For example, as of September 2022, consumer eCommerce accounted for 30% of the UK's overall retail sector, with an annual revenue surpassing $120 billion, reflecting a notable increase from 20% in 2020. This surge in online shopping and e-commerce platforms is a significant driver for the growth of the doll, toy, and game market.

The doll, toy, and game market faced substantial challenges in 2022 due to the outbreak of the COVID-19 pandemic. The global market experienced disruptions in supply chains owing to trade restrictions, and consumer demand plummeted due to widespread lockdowns imposed by governments globally. COVID-19, identified in 2019 in Wuhan, Hubei province of China, had a profound impact on global economic activities, prompting lockdowns and restrictions that hindered manufacturing. While the market faced setbacks throughout 2021 and into 2022, it is anticipated to recover across the forecast period. The impact of COVID-19 is considered a 'black swan' event, unrelated to inherent weaknesses in the market or the global economy, and recovery is expected as the situation normalizes.

NFC (Near Field Communication) technology is increasingly being incorporated into toys and games to enhance interaction and boost engagement. NFC allows phones to interact within a radius of approximately 4 cm, providing a wireless connection between devices. This technology is utilized through NFC stickers and inlays integrated into game controllers, consoles, physical toys, and cards. Users can easily link controllers and consoles during gameplay by tapping the NFC-enabled device. Products such as NFC-enabled game consoles, cars, and board games leverage this technology. For instance, Mattel introduced Hot Wheels id, allowing kids to race their NFC-enabled Hot Wheels on a smart track and scan their collections into a free iOS app. The app serves as a virtual garage where kids can monitor speed and laps using infrared sensors in the Hot Wheels Race Portal, connecting to classic Hot Wheels tracks. Other companies such as Sphero and Anki Drive also offer NFC-enabled cars.

Major players in the doll, toy, and game market are venturing into NFT-based collectibles to establish a competitive advantage in the industry. NFT (Non-Fungible Token) collectibles are unique digital items that cannot be replicated or duplicated, created using blockchain technology and stored on a decentralized ledger. For instance, in June 2021, Mattel Inc., a US-based toy manufacturing and entertainment company, launched the Mattel Creations first-ever Hot Wheels NFT Series as part of the super-charged Hot Wheels brand. The Mattel Creations platform allows brands to create limited-edition, specialty items that celebrate and reimagine Mattel's intellectual property. Collaborating with creative artists, designers, and pop culture influencers, Mattel Creations transforms famous toys into new, inspired creations available directly to consumers via MattelCreations.com.

Major companies operating in the doll, toy, and game market report are Microsoft Corporation, Sony Group Corporation, The Toy Quest Ltd., Nintendo Co.Ltd., The Lego Group, Bandai Namco Holdings Inc., Hasbro Inc., Mattel Inc., Bigjigs Toys Ltd., VTech Holdings Limited, Dorel Industries Inc., Funko Inc., Tomy Company Ltd., Fisher-Price, Brandstätter Group, Dream International Limited, Jakks Pacific Inc., Spin Master Corporation, Ravensburger AG, Sanrio Company Ltd., Playmates Toys Limited, LeapFrog Enterprises lnc., Hape International, MGA Entertainment Inc., Moose Toys Ltd., Goliath Games, Learning Resources Ltd., WowWee Group Limited, Epoch Co., Schleich GmbH, Crayola LLC, Gibsons Games Company, Hornby Railways, Basic Fun Inc.

Asia-Pacific was the largest region in the doll, toy, and game market in 2023. Western Europe was the second largest region in the doll, toy, and game market. The regions covered in the doll, toy, and game market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the doll, toy, and game market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

These items generally fall into two categories such as electronic toys and non-electronic toys. Electronic toys, responding to children's interactions with features such as music, vibrations, or graphics, are designed for young age groups. They are crafted from materials such as plastics, wood, metal, and others, forming various categories such as games and puzzles, infant and pre-school toys, construction toys, dolls and accessories, video games, among others. These products are commonly distributed through department stores, online platforms, and other retail channels.

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

The dolls, toys, and games market consists of sales of digital toys, online games, offline games, creative toys, educational toys, rubber material, and retail sales. 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 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.