San Jose, California (PRWEB) April 22, 2015
Follow us on LinkedIn The global market for toys and games is inundated with a spectacular variety of playthings targeted at children, young adults and grown-ups. Continuous innovation and effervescent launch of new products, has over the years, metamorphosed the traditional toys market. An interesting trend influencing the market is the growing disenchantment of children towards toys and games at an early age. The period of engaged play with the same toys and games is declining. This has resulted in the introduction of new and ‘different’ games and toys at very frequent intervals. The customer base for toys and games is gradually expanding from children, who were once the primary or in most cases the sole targets of toy manufacturers, to youngsters and adults.
Innovation will continue to bring in new opportunities for demand growth in the coming years. Toy manufacturers are faced with the challenge of continuously developing toys that grab and sustain the attention of children. Incorporating modern and relevant technology into brands is a key competitive strategy for success in the marketplace. The increasingly digital lifestyles of consumers worldwide and exposure to technology at an early age are pushing several companies to think out of the box to develop smart and engaging electric and electronic toys and games. Augmented reality toys, app integrated toys, and toys that can be controlled by smartphones and tablets are emerging into the new frontiers of growth. The future of the market lies in products that bridge the gap between real-world and virtual toys.
Rising disposable income is a key factor driving sales of toys and games in emerging countries. Driven by the promising potential in these markets, several global companies are foraying into regional Asian and Latin American markets with localized products. Toys for pre-school/ baby/ infants are highly popular in all emerging markets, given the massive size of the young population and growing birth rates. In price sensitive markets, sales of unbranded toys dominate when compared to branded toys. Thus, in the coming years, aiming the pre-school category with a precise pricing strategy is the key towards achieving growth in emerging markets.
As stated by the new market research report on Toys and Games, Europe represents the largest market worldwide. Latin America ranks as the fastest growing market with a CAGR of 9.4% over the analysis period. Asia-Pacific, led by China, is expected to outstrip the United Sates as the largest market by 2017.
Major players covered in the report include Dream International Ltd., Hasbro, Inc., Integrity Toys, Inc., JAKKS Pacific Inc., Kids II, Inc., K’NEX Brands, L.P., Konami Corporation, LeapFrog Enterprises, Inc., LEGO Group, Mattel, Inc., Fisher-Price, Inc., MEGA Brands, Inc., MGA Entertainment, Inc., NAMCO BANDAI Holdings Inc., Playmates Toys, Inc., Ravensburger AG, Sanrio Company Ltd., Tarata Toys Ltd., TOMY Company Ltd., Toy Quest, and VTech Holdings Ltd., among others.
The research report titled Toys and Games: A Global Strategic Business Report announced by Global Industry Analysts, Inc., provides a comprehensive review of the industry segments, detailed product overview, segment-wise trends, growth drivers, restraints, market share, size & demand projections and forecasts. The report analyzes market data and analytics in terms of US$ for the period 2014 through 2020 for major geographic regions including the US, Canada, Japan, Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico, and Rest of Latin America). Also, a seven-year (2007-2013) historic analysis is provided for additional perspective. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players. Product segments analyzed in the report include Games and Puzzles, Infant and Preschool Toys, Activity and Construction Toys, Dolls and Action Figures, Vehicle Toys and Ride Ons, Soft/Plush Toys and Other Toys & Games.
For more details about this comprehensive market research report, please click here
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