As Chinese household incomes increase and families choose to spend more on their children, domestic demand has been increasing — 5.3% annually over the five years through 2017 to total $20.1 billion. This industry contributes significantly to employment levels in China with 7,178 businesses employing 607,848 people in 2017.
China exported more than 44 billion dollar worth of toys in 2017, up 31.2 percent. It was a record growth since the global financial crisis in 2007.
The market is attractive for international brands and for a variety of reasons:
The end of the one-child policy:
This change will affect many sectors in the country including that of toys. Indeed, the government foresees an increase in births of 2 million newborns per year following the abolition of the reform. This change offers brands development opportunities in the marketplace.
Emergence of the middle class:
The Chinese middle class is evolving and has an increasingly strong purchasing power, allowing it to aspire to new expectations and new needs. The development of this class is to be taken into consideration by the brands since it represents a potential of customers of 300 million people.
A growing preference for quality toys:
Toys from foreign brands are becoming popular with consumers. Indeed, being international brands in China remains a competitive advantage in the market thanks to consumers’ perception of these brands. Moreover, they are known to convey the differentiation and self-esteem of individuals through the purchase of these brands.
To know better about whole market is not as difficult as you think. And CTPJA held China Toy Expo every year to offer an international sourcing platform for overseas buyers and domestic suppliers.
So far, 3,600 worldwide brands have applied to showcase at 2018 China Toy Expo, among them, top international brands including Hasbro, MATTEL, Lego, Barbie, Play-Doh, Crayola, NERF and Chicco will continue to showcase with products covering stuffed toys, wooden & bamboo toys, infant toys, electronic plastic toys, non-electronic plastic toys, new-tech models, mechanical toys, dolls and plush toys, educational toys, inflated toys, outdoor sports equipments, video games, gifts, etc.
As for China Kids Expo 2018, this year the fair will continually cover the whole value chain of the juvenile industry and penetrate all segments in this huge market. The fair will once again showcase kids products brands that guarantee quality and safety. Big brands from the world will be featured including GoodBaby, Joie, dodie, Dr.Browns, Zuny, Jette, Combi, abelbo, silverlit, Cybex, bringing best kids-products for visitors.
Visit the official websites of CTE and CKE for latest news now! Seize the opportunity and expand your business in Chinese market!