Today's toy manufacturers keep pace with the rapidly changing world and provide youngsters with correspondingly appropriate playthings for their enjoyment and to challenge their creativity and imagination.
Market growth is being fuelled by video, console and computer games, with the industry also benefiting from a growing adult consumer base as this group takes a greater interest in games as a popular leisure pursuit. Industry leaders are focusing their marketing efforts on older children and adults, with small children no longer considered the industry’s main target demographic.
For example, Smart Toys will represent an $18 billion hardware and software market by 2023, up from an estimated $6 billion in 2018, according to a new report from Juniper Research. This increase will primarily be driven by the growing popularity of smartphone connected toys and related in-app purchases, which are projected to grow by 69 per cent annually over the next five years. Furthermore, the research found that as connected toys become more affordable, educational toys will find a place in the school curriculum in developed markets.
The statistic below shows the value of the leading toy brands worldwide in 2017 and 2018 (in million U.S. dollars).
The global toy market is significant, having surpassed 87 billion U.S. dollars in annual revenue in 2015. As such, the opportunities for toy manufactures are large if they can overcome stiff competition. That competition not only comes from other toy makers but from other forms children’s entertainment such as video games. As toys can be expensive they are a luxury good for many families around the world. Therefore, higher incomes help to explain the dominance of North America, Asia, and Europe in regards to regional revenues from the toy market.
Of the major players in the toy industry, Lego had the highest revenue in 2016. There is also a significant gap from fourth placed Hasbro to fifth placed JAKKS Pacific, showing that there are a number of companies, who are the biggest influencers on the market.
And these leading toy brands all have great effect on whole market and every year most of them will also show at China Toy Expo, China kids Expo and China licensing Expo, expending their business with domestic star suppliers.
And this year, the fair will be held at Shanghai New International Expo Centre at October 16-18. To meet these leading toy brands and to find more excellent star suppliers is as easy as you click the link below.