GVR Report cover Toys And Games Market Size, Share & Trends Report

Toys And Games Market Size, Share & Trends Analysis Report By Product (Electronic Games, Games & Puzzles), By End-user (0 - 8 Age, 15 And Above Age), By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Aug, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-209-9
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2019
  • Number of Pages: 110

Report Overview                       

The global toys and games market size was valued at USD 275.75 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028. The industry is expanding as a result of numerous causes, including parents' increased interest in green toys, the resurgence of conventional toys and video games, awareness of the cognitive benefits of building toys, and the exponential expansion of mobile-based gaming. The market is also expected to be driven by the increased popularity of traditional recreational activities among younger generations. Millennials' growing predilection for old-school games at social gatherings is likely to propel the market expansion. Over the forecast period, the increasing resurgence of retro games is expected to boost the market growth.

Global toys & games market size, by end-user, 2018 - 2028 (USD Billion)

Companies are actively shifting their product offerings by launching e-stores and retailing products through e-commerce platforms, such as Amazon, Walmart Online, and eBay, as online platforms have emerged as a viable and cost-effective alternative to physical marketing and sales.

People stayed at home owing to the lockdown and looked for indoor games online. Curtis McGill and Scott Houdashell's toy companies rely on sales during the key two weeks before Easter for the majority of their earnings. Their Amazon sales increased by 4,000% year over year in March 2020, while their Walmart in-store sales increased by 100%.

In addition to this, Ravensburger, a puzzle maker, witnessed a surge in sales in March 2020. According to a business representative, sales of puzzles in the United States increased by 370% year over year in the last two weeks of March 2020, and sales were ten times greater than the same day in 2019.

Product Insights       

Electronic games dominated the market with a revenue share of over 64.0% in 2020. Consumer spending on video content, virtual reality items, and video game tournaments has increased significantly owing to technological advancements. Due to reasons such as the proliferation of mobile and online gaming and the move from physical to digital software distribution, the market is seeing exponential growth.

Many toymakers invested significantly in content production centered around their flagship products, used the content as lead generators, and created interactive play experiences to add value to their physical products as a result of the shift from products to a more service-oriented model that has transformed many industries. Hasbro, for example, turned its trading card game Magic: The Gathering into an esports event by staging tournaments and live-streaming the matches on Twitch.

End-user Insights                                                                                                    

The 15 age and above segment held the largest share of over 50.0% in 2020. According to CNBC, sports toys such as skateboards and scooters outperformed fashion dolls and accessories and building sets like Lego. Due to the increased traffic to its website on Black Friday, Lego had to construct a virtual wait for online consumers. In all product categories, toymakers saw average selling prices grow. Families in developed economies are increasingly purchasing educational, interactive, and multi-functional toys as a tool for their children's development. Furthermore, aside from children, older consumers are likely to fuel toy and game sales, particularly in sectors such as action figures and accessories.

In 2019, the global board game market size was valued at USD 8.60 billion, with brick-and-mortar stores accounting for the majority of sales. Board games had a devoted following even before the pandemic, with roughly a thousand board game cafes springing up around the world. According to NDP, the popularity of board games has resulted in a 48% increase in sales year to date (2021). Board games have seen a renaissance at home, from chess to Chutes and Ladders and Exploding Kittens.

Distribution Channel Insights                                                

The offline distribution channel segment dominated the market and held a share of more than 50.0% in 2020. The online segment is expected to witness the fastest growth over the forecast period. Aggregators and manufacturer-hosted e-commerce websites are part of the online segment. Manufacturers have recognized the channel's potential and are hosting shopping websites to better serve customers' demands while increasing profit margins. To accommodate the increased demand for e-commerce, companies such as Hasbro and Mattel extended their direct-to-consumer businesses. FAO Schwarz and Hamley's of London, two toy industry veterans, are also pursuing digital opportunities. With an eBay shop, Hamley's of London increased its online footprint, giving its whole variety of toys and games to eBay's 28 million U.K. users.

Global toys & games market share, by distribution channel, 2020 (%)

In most parts of the world, e-commerce outlets have been the only route out for any kind of purchase due to stay-at-home orders and schools being closed for about a year and a half due to COVID-19. Innovative toys and activities have become the latest method to pass the time as children spend more time indoors and at home.

Regional Insights            

Asia Pacific held the largest share of over 40.0% in 2020. Companies have expanded their reach to countries like China and Japan through improved e-commerce or opening stores in new locations. For instance, Lego launched 134 retail sites in 2020, including 91 of them in China. There are currently 678 Lego-branded stores around the world, with plans to open 120 more, including 80 in China. By the end of 2021, the goal is to establish roughly 300 Lego stores in China.

In 2020, North America held the second-largest share. Downloads surged in March 2020 amid shelter-in-place orders in the United States, resulting in a rise in downloads across the top genres, including hypercasual, puzzle, simulation, and lifestyle.

Key Companies & Market Share Insights        

The market is fiercely competitive due to the presence of a large number of companies. Licensing and strategic brand collaborations have exploded in the toy market, allowing toys to cross over and, in some cases, blur the barriers between different retail groups. For instance, Target established a strategic alliance with luxury toy shop FAO Schwarz for the Christmas season. The two firms collaborated on a 70-piece toy collection that was promoted in-store to cross-pollinate items with customers. The line was available at FAO Schwarz's NYC headquarters, along with more than 300 of Target's exclusive brands, including Cat & Jack children's clothing and Pillowfort home collections. Some prominent players in the global toys and games market include:

  • BANDAI NAMCO Entertainment Europe S.A.S

  • LEGO System A/S

  • Hasbro

  • Mattel

  • JAKKS Pacific, Inc.

  • Sony Interactive Entertainment Inc.

  • Nintendo

  • Microsoft

  • NetEase, Inc.

  • Sanrio Company, Ltd.

  • Playmates Toys Limited

  • Dream International Limited

  • VTech Holdings Limited

  • Konami Holdings Corporation

Toys And Games Market Report Scope

Report Attribute


Market size value in 2021

USD 291.72 billion

Revenue forecast in 2028

USD 406.97 billion

Growth rate

CAGR of 5.0% from 2021 to 2028

Base year for estimation


Historical data

2015 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, end-user, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; India; China; Japan; Brazil

Key companies profiled

BANDAI NAMCO Entertainment Europe S.A.S; LEGO System A/S; Hasbro; Mattel; JAKKS Pacific, Inc.; Sony Interactive Entertainment Inc.; Nintendo; Microsoft; NetEase, Inc.; Sanrio Company, Ltd.; Playmates Toys Limited; Dream International Limited; VTech Holdings Limited; Konami Holdings Corporation

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Segments Covered in the Report

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 2015 to 2028. For the purpose of this study, Grand View Research has segmented the global toys and games market report on the basis of product, end-user, distribution channel, and region:

  • Product Outlook (Revenue, USD Billion, 2015 - 2028)

    • Electronic Games

    • Outdoor & Sport Toys

    • Dolls

    • Preschool Toys

    • Games & Puzzles

    • Others

  • End-user Outlook (Revenue, USD Billion, 2015 - 2028)

    • 0 - 8 age

    • 9 - 15 age

    • 15 age & above

  • Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2028)

    • Offline

    • Online

  • Regional Outlook (Revenue, USD Billion, 2015 - 2028)

    • North America

      • U.S.

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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