Educational Toys Market Share, Global Industry Growth, Emerging Trends, Revenue, Business Challenges, Opportunities and Future Competition till 2033: SPER Market Research
Educational toys are things to play with that are intended to encourage learning in kids while encouraging creativity and the development of motor and cognitive skills in an entertaining manner. The most important factors that all learning and education toy makers worldwide take into account are durability and safety. In light of the current state of the market for learning and education toys, it is critical for industry players to create goods that children across all ages can use and abuse. The market segment includes building blocks and construction sets, puzzles, STEM toys, educational games to educate language and other subjects, arts and craft materials, toys for language and literacy, and role-playing games and toys.
According to SPER market research, ‘Educational Toys Market Size – By Product Type, By Age, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Educational Toys Market is predicted to reach USD 140.62 billion by 2033 with a CAGR of 10.41 %.
Just like any other market, the global educational toys market has seen innovations and the increasing popularity and demand for smart toys and sustainable toys have been at the forefront of driving this market. Despite high costs, smart toys are preferred over other learning & education toys for their ease of use and personalised instructive approach. The rising adoption of smart learning & education toys is likely to create a healthy demand for STEM toys. The growing awareness among parents regarding the significance of early education and the significance of education toys is also a leading factor in driving the market growth. Further, government support to encourage new players’ entry is likely to favour industry growth and witness significant manufacturing and adoption of such toys.
The global market’s growth has been hindered by the growing prevalence and circulation of unbranded and counterfeit educational toys, high costs to the customer, stringent safety regulations and guidelines imposed, competition from electronic devices, and integration of technology, and to keep up with the advancements and dynamic nature of technology. Among these, the distractions caused by electronic devices to provide instant entertainment, coupled with high costs, birth a struggle for parents to strike a balance between education & distraction and costs, while ensuring that these toys and games help in the all-around development of their children.
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Impact of COVID-19 on Global Educational Toys Market
COVID-19 has affected the distribution of educational toys through both physical and online channels, with a notable increase in product sales through the online channel. This was a result of parents spending a lot of money on cutting-edge educational resources for their children when schools were temporarily closed with COVID-19 epidemic increased demand for products because lockdown limitations caused children worldwide to spend more time at home. Nonetheless, the COVID-19 epidemic significantly disrupted international supply chains and since China is a major global provider of educational and learning toys, trade operations had been impeded by a number of lockdown measures and an increase in import duties on Chinese toys in nations like India.
Educational Toys Market Key Players:
The Asia Pacific region has excellent market growth prospects with China and India being the most significant regions for learning & education toys. Additionally, some of the key market players are Fat Brain toys, Hasbro, Mattel, Melissa & Doug, Spin Master, The Lego World, and others.
Educational Toys Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type: Based on the Product Type, Global Educational Toys Market is segmented as; Art & Craft Kit, Building & Construction Sets, Games & Puzzles, Musical Toys/Instruments, Role Play Toys, STEM Toys, Others.
By Age: Based on the Age, Global Educational Toys Market is segmented as; Kindergarten (5 years & above), Preschoolers (3-5 years), Toddlers (1-3 years).
By Distribution Channel: Based on the Distribution Channel, Global Educational Toys Market is segmented as; Offline (Convenience Stores, Supermarkets & Hypermarkets, Others), Online.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Educational Toys Market Future Outlook
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