According to the latest report by IMARC Group, the Indian toy industry has been categorized into: Breakdown by type of toy (plush toys, electronic toys, games and puzzles, building and construction toys, dolls, ride-ons, sports toys and outdoor toys, baby/preschool toys, activity toys, other toys), breakdown by gender (unisex toys, toys for boys, toys for girls), breakdown by distribution channel (specialty stores, supermarkets and hypermarkets, in line, others), distribution By region (Maharashtra, Tamil Nadu, Karnataka, Gujarat, Delhi)
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the The Indian toy market size reached US$1.35 billion in 2021. Looking ahead, IMARC Group expects the market reach US$2.73 billion by 2027, growing at a CAGR of 12.6% over the period 2022-2027. The market is mainly driven by the growing population in India, made up of a large pool of young consumers under the age of 25. This, coupled with the improved standard of living and wealth of the masses, is expected to boost the market. A majority of the population are now opting for innovative electronic and digital toys rather than traditional battery-powered alternatives. Additionally, educational toys are gaining popularity as they help promote experimental learning experiences in children. Hence, the availability of various easily accessible toys at varied price ranges, facilitated by the rapid expansion of organized retail and online platforms in the country, acts as a major growth driver. In this light, the growing penetration of online portals, which offer a wide range of toys at competitive prices while providing flexible payment and return/exchange options to users, creates a positive outlook for the market. The market is further driven by the growing demand for science, technology, engineering and math (STEM) based toys, especially from the urban population.
Indian Toy Industry Trends:
Toys refer to toys designed for toddlers and young children. These items are usually made from clay, fabric, paper, plastic, and wood which are widely available in a variety of sizes and colors. Toy-based learning helps facilitate children’s overall development while stimulating their creativity and stimulating their imagination. These elements help improve their problem-solving abilities and motor skills. Plus, the toys help de-stress and improve toddlers’ social and cognitive skills. A wide range of modern to traditional toys are available in the market including dolls, cards, puzzles, board games, mechanical cars and action figures.
Also read the full blog: Top Indian Toy Manufacturers in 2022
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
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