The global plastic and other toys market size was valued at USD 70.96 billion in 2020 and is expected to expand at a compound annual growth rate of 3.2% from 2021 to 2028. Plastic toys are relatively economical as compared to toys made of other materials, which is one of the major factors fueling the market growth. The growing population and the emergence of advanced toys are propelling the market growth. Parents highly rely on toys to entertain and educate their children. Parents’ growing sentiment towards buying kids toys and increased spending on the same are further driving the market. Plastic toys are durable, which attracts a large number of consumers with different income levels towards the product, thereby contributing to the market growth. The introduction of toys with realistic details and functions attracts children, which leads to the high demand for plastic toys.
The growing number of working parents and their growing inclination towards spending more on children are leading to the increasing demand for toys. Parents’ desire to educate, develop, and entertain kids through toys will further propel the market growth. The increased influence of social media is positively impacting the demand for kids toys, which will further boost the market growth. Plastic toys with pictures of popular characters on them are attracting more kids, thereby resulting in increased demand for plastic toys internationally.
The innovation of advanced products by the manufacturing companies that help entertain kids as well as improve their analytical skills is fueling the market growth. Parents are keen to introduce toys of different shapes, sizes, and colors to children, which, in turn, will open new market opportunities for toy manufacturers. Furthermore, top manufacturing companies are highly focused on introducing toys in the market with popular animated characters to appeal to a large number of kids. Advancement in technology is further propelling the market growth. Plastic toys are not environment-friendly and may have an impact on the child’s health due to the use of chemicals, which may restrain the market growth.
The Coronavirus pandemic positively impacted the market growth globally. Due to the Covid-19 virus outbreak, many countries imposed country-wise lockdown, resulting in closed schools and canceled family tours, picnics, and outdoor sporting activities. Plastic toys observed a surge in demand during the Covid-19 era as parents wanted to keep their children busy with various physical and mental activities through toys. Toys that can be used for indoor and outdoor activities are witnessing high demand from parents. The sale of toys through retail stores was decreased while the product demand through online channels witnessed a rise during the period. As things get normal post-pandemic, it is expected that the demand for toys for kids will remain constant in the global market.
The offline channel segment dominated the market in 2020 with a share of more than 55.0% and will continue to expand at a substantial growth rate over the forecast period. Top manufacturing companies are investing in dedicated retail stores to attract consumers across the globe, which increases the product demand from offline channels. In addition, the availability of a wide range of products at the offline channel, like supermarkets and hypermarkets, retail markets, and stationery stores, propels the segment growth.
The online channel segment is estimated to expand at the fastest CAGR of 3.4% from 2021 to 2028. The growing penetration of social media, the accessibility of the internet, and the presence of top brands in the e-commerce sector will propel the growth of the online channel. The increasing discount offerings, the availability of more options, and growing online retailing will further boost the sale of toys through the online channel.
The others segment accounted for the largest share of over 45.0% in 2020 and is estimated to grow at a substantial rate in the forecast period. The others segment contains plastic toys like magic lanterns, theaters, walkie-talkies, toy spectacles, and sunglasses. The growing parents’ spending on child toys due to the grown double incomes will further boost the segment growth in the near future.
The toy balloons and kites segment is estimated to expand at the fastest CAGR of 3.8% from 2021 to 2028. Plastic balloons and kites witness significant demand from consumers as they carry popular animated character stickers on them, which are highly famous among children. Occasions like birthdays, festivals, and other events have increased the demand for plastic toy balloons as these events are special for kids.
Europe accounted for the largest share of over 35.0% in 2020 and will continue to grow at a substantial rate over the forecast period. The presence of top manufacturers, increased spending on kids toys, and rising disposable income will drive the regional market growth. Russia is the major contributor to the market growth owing to the presence of a large child population and increased spending on kids toys.
Asia Pacific is estimated to register the fastest CAGR of 3.9% from 2021 to 2028. The regional market growth is attributed to a large child population and the presence of the fastest-growing economies and established markets for toys, like China and Japan. Furthermore, factors such as increased disposable income, the rising number of working people in families, and the growing middle-class population are opening significant growth opportunities for manufacturers in this region.
The market is fragmented owing to the presence of a number of global and regional players in the toys industry. China is the prime producer and distributor of plastic toys. To capture a sufficient market share in developing economies, major manufacturing companies are focused on investing or opening dedicated retail stores. Companies are opting for various marketing strategies, such as new product developments and the expansion of distribution channels, to gain a competitive edge in the market. Some prominent players in global plastic and other toys market include: -
Report Attribute |
Details |
Market size value in 2021 |
USD 72.94 billion |
Revenue forecast in 2028 |
USD 91.15 billion |
Growth Rate |
CAGR of 3.2% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical data |
2017 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Type, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Canada; Germany; U.K.; France; Russia; Italy; China; Japan; India; Brazil; Argentina; South Africa; Saudi Arabia |
Key companies profiled |
Lego; Bandai Namco Holdings; Hasbro, Inc.; Mattel, Inc.; Spin Master; Tomy Company; Rastar Group; Artsana SPA (Chicco); Smoby Toys; Mega Brands; Simba-Dickie Group; Melissa & Doug, LLC; Fisher-Price; Quercetti; Viking Toys; Nici, AG |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global plastic and other toys market report on the basis of type, distribution channel, and region:
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