The global stuffed animal & plush toys market size was valued at USD 7.98 billion in 2018 and is anticipated to expand at a CAGR of 7.61% over the forecast period of 2019 to 2025. Growing target population across the globe is expected to propel the market growth. High impact of various cartoon shows and action movies also plays a key role in boosting the demand for stuffed animal and plush toys.
In addition, rising demand for custom-made plush toys across the globe impels manufacturers to focus more on product innovation, thereby fueling market growth. Thus, constant product innovations, such as toys with advanced features like GPS trackers and sensors, are projected to contribute to the product demand.
Moreover, companies have undertaken several business strategies, such as M&A and partnerships. This will also have a positive impact on the growth of this stuffed & plush toys market over the years to come. For instance, Reliance Retail acquired the largest toy store, Hamleys, to expand its geographical reach.
North America is anticipated to be the largest regional market by 2025 due to increasing sales of custom-made toys, such as action figures and cartoon toys. On the other hand, Asia Pacific is estimated to register the fastest CAGR over the forecast period. The offline distribution channel segment is expected to account for the largest market share by 2025.
Based on product, the stuffed & plush toys market is segmented into stuffed animals, cartoon toys, action figures, and others. The stuffed animal products segment led the global market in 2018 accounting for a share of more than 42%. The segment is projected to expand further at a steady CAGR over the forecast period. The cartoon toy product segment is anticipated to register the fastest CAGR of 9.32% over the forecast period. Rising popularity of various cartoon shows is estimated to drive the demand for these toys, thereby contributing to the segment growth.
Offline distribution channel was the largest segment in the stuffed animal & plush toys market and generated a revenue of USD 6.89 billion in the year 2018. Offline distribution channels include gift stores, toy stores, hypermarkets, specialty stores, etc. Availability of a wide range of products in these stores is the key growth-driving factor for the segment. Moreover, various offers and discounts on branded products and store assistants provided by these stores will boost segment growth.
Online channel is expected to be the fastest-growing segment in the market with a CAGR of 10.75% from the year 2019 to 2025. Rapidly expanding e-commerce sector, especially in emerging regions, and rising number of internet and smartphone users are the key factors driving the product sales through online platforms. These platforms also provide home delivery, a number of payment options, such as Cash on Deliver (COD), which will drive the segment further. Moreover, online channels offer 24*7 service.
North America holds the largest market share in the global industry due to high demand for different types of the stuffed & plush toys, mainly in U.S. and Canada. Moreover, demand for custom-made soft toys is projected to drive the regional market further. Asia Pacific is expected to have the fastest CAGR of more than 9% over the forecast period. This growth can be attributed to the rising demand for stuffed animal products in countries, such as China, Japan, and India. Improved standards of living and rising disposable income levels in these countries will boost the product demand further.
Some of the key companies in the market are Mattel, Inc.; Bandai Namco Group; LEGO A/S; Hasbro, Inc.; Simba Dickie Group; Spin Master Ltd.; Budsies, LLC; Giantmicrobes, Inc.; and Ty, Inc. These companies have undertaken several competitive strategies, such as mergers and acquisitions, partnerships, and new product development.
Attribute |
Details |
Base year for estimation |
2018 |
Actual estimates/Historical data |
2015 - 2017 |
Forecast period |
2019 - 2025 |
Market representation |
Revenue in USD Billion and CAGR from 2019 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
Country scope |
U.S., Germany, France, India, China, Brazil, and South Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global stuffed animal & plush toys market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Billion, 2015 - 2025)
Stuffed Animals
Cartoon Toys
Action Figures
Others
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Online
Offline
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
North America
The U.S.
Europe
Germany
France
Asia Pacific
China
India
Middle East & Africa
South Africa
Central & South America
Brazil
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The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. From a manufacturing standpoint, the sustainable or ethical fashion trend is expected to favor market growth throughout the forecast timeframe. Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
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