Forecast and analysis of the global toy industry market status and future development prospects in 2021

by:Ennas      2022-01-09
China Business Intelligence Network News: Since the users of toys are mainly children, the toys people usually refer to generally refer to children's toys. Regarding the definition of children's toys, various countries and regions have different interpretations. As children's toys have a pivotal impact on children's physical and mental development and even safety, some countries and regions have even written the definition of toys into toy-related bills in order to achieve the purpose of regulating the industry and protecting children. With the improvement of people's living standards, the toy market in developing countries has gradually grown, and there is huge room for growth in the future. According to data from the consulting company Euromonitor, from 2009 to 2015, due to the impact of the financial crisis, the growth of the toy market in Western Europe and North America was weak. The growth of the global toy market mainly relied on the large number of children and the sustained economic development of the Asia-Pacific region; Benefiting from the recovery of the toy market in North America and Western Europe and the continued development of the toy market in the Asia-Pacific region, global toy sales have continued to grow rapidly. In 2018, the global toy market retail sales reached approximately US$86.544 billion, a year-on-year increase of approximately 1.38%; in 2009 During 2018, the compound growth rate of the toy industry was 2.18%, maintaining a relatively stable growth. 2012-2018 global toy market size statistics data source: Euromonitor, China Business Industry Research Institute, the United States is the world's largest toy consumer, accounting for 28.15% of global toy retail sales; China's toy market accounts for 13.80% of global toy retail sales , Is the largest toy consumer in Asia; the UK toy market accounts for 4.82% of global toy retail sales, and is the largest toy consumer in Europe. Data source: Euromonitor, China Business Industry Research Institute sorting out future development trends 1. The global toy market demand is steadily rising. Emerging markets represented by Eastern Europe, Latin America, Asia, the Middle East and Africa are growing rapidly. As the economic strength of emerging market countries gradually increases, the concept of toy consumption has gradually extended from mature European and American regions to emerging markets. The large number of children in the emerging market, the low per capita consumption of children's toys and the good economic development prospects make the emerging toy market have a high growth potential, and this market will also become an important growth point for the global toy industry in the future. According to Euromonitor's forecast, global retail sales will continue to grow rapidly in the next three years. In 2021, sales are expected to exceed US$100 billion, and the market will continue to expand. 2. The continuous improvement of safety standards in the toy industry. With the improvement of people's living standards and the strengthening of environmental protection concepts, toy consumers are prompted to put forward higher requirements for the quality of toys from their own health and safety considerations. Toy importing countries have also formulated increasingly stringent safety and environmental protection standards in order to protect the health of their consumers and protect their own toy industry. 3. The rapid development of high-tech toys. With the advent of the intelligent age, the structure of toy products has begun to tend to be electronic. American Toy Association Chairman Io once pointed out at the opening ceremony of the New York International Toys Exhibition that the combination of traditional toys and electronic technology is the development of the toy industry. The inevitable trend. At the same time, LED technology, augmented reality technology (AR), face recognition technology, communication and other science and technology are becoming more mature. These technologies are cross-border fusion with toy products and will collide to produce different smart toys. Compared with traditional toys, the novel, entertaining and educational functions brought to children by smart toys are more prominent. In the future, they will surpass traditional toy products and become the development direction of the global toy industry. 4. Linkage with the cultural industry to strengthen the prosperity of cultural industries such as film and television, animation, and national tides has provided more materials and broadened ideas for the development and design of traditional toys. Adding cultural elements to the design can increase the product value of toys and enhance consumers’ loyalty and recognition of branded products; the popularity of film and animation works can promote the sales of licensed toys and derivatives, create a good brand image, and enhance Brand awareness and reputation. Classic toy products generally have cultural elements such as character and story. The prototypes of the best-selling Gundam Warrior, Disney series toys, and Super Pan are all derived from related film and animation works.
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