Educational Toys Market 2023: Players, Countries, Type and Application, Regional Forecast to 2030

 According to Fortune Business Insights, the global educational toys market size was valued at USD 57.41 billion in 2022 and is projected to grow from USD 61.60 billion in 2023 to USD 106.26 billion by 2030, exhibiting a CAGR of 8.10% during the forecast period.

Information Source:

https://www.fortunebusinessinsights.com/educational-toys-market-106324 

Key Companies Covered in Educational Toys Market

  • Mattel (U.S.)
  • LEGO System A/S (Denmark)
  • Melissa & Doug (U.S.)
  • Ravensburger (Germany)
  • The Simba Dickie Group (Germany) 
  • TOMY (Japan)
  • JAKKS Pacific, Inc. (U.S.)
  • GoldLok Toys (China)
  • WowWee Group Limited (Canada)
  • CocoMoco Kids (India)

Market Overview

The educational toys market has experienced a significant surge in demand over the past decade. Factors such as rising parental awareness of the importance of early childhood education, increasing disposable incomes, and the desire to balance screen time with more tactile learning experiences have fueled this growth. According to Fortune Business Insights, the global educational toys market is projected to continue its upward trajectory, with an estimated compound annual growth rate (CAGR) of approximately 8.10% between 2023 and 2030.

Report Coverage:

The report offers: 

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market. 
  • Comprehensive insights into regional developments. 
  • List of major industry players. 
  • Key strategies adopted by the market players. 
  • The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Segments-

Type, Age Group, Distribution Channel, and Region are studied for the Market

Based on type, the market is classified into arts & crafts, games & puzzles, STEM toys, musical toys, motor skills, role play, and other toys.

In terms of age group, the market is divided into 0-4 years, 4-8 years, and above 8 years.

On the basis of distribution channels, the market is segmented into specialty stores, supermarkets & hypermarkets, e-commerce, and others.

Geographically, it is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Regional Insights-

North America to Dominate Led By Heavy Preference for ‘Made in USA’ Products

North America accounted for USD 24.98 million in the worldwide educational toys market share in 2020. The regional market is largely driven by emerging demand from consumers and retailers for ‘Made in USA’ products. For retailers, buying and selling locally manufactured toys is beneficial as it translates into faster and cheaper product shipment compared to shipment to other countries. Due to these factors, the U.S. could be a highly profitable revenue ground for educational toy manufacturers over the projected period.

The European market is driven by the increasing penetration of eco-friendly products. Led by the U.K. and Germany, educators and parents are increasingly adopting greener products to minimize the risk of health issues involved with the use of hazardous and synthetic materials. The growing popularity of green products is anticipated to increase the number of startups in the region. In 2020, the U.K. accounted for the largest regional share.

Asia Pacific is expected to witness robust growth in the market in the next few years. China is considered an internationally renowned manufacturer of consumer products globally. The rise in the middle-class population in India and China fuels the demand for affordable educational toys. India is poised to exhibit a notable CAGR in the regional market during the forecast period. The regional growth will also be propelled by active government efforts to bolster the toy manufacturing sector and the proliferating e-commerce channel. 

Key Industry Development

  • October 2022 – Bubhutsu, a Bengaluru, India-based educational toys brand (launched in August 2022) introduced its first line of toys designed on the Krishna Leela theme. The brand emphasizes developing toys on Indian epic themes for children above four years of age.

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