Educational Toys Market Size to Reach Revenues USD 31.62 Billion by 2026 - Arizton
CHICAGO, July 8, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global educational toys market report.
The educational toys market is expected to grow at a CAGR of over 8.11% during the period 2020−2026.
Key Highlights Offered in the Report:
- The market is expected to witness the highest demand from North America and APAC region.
- The recent trend towards augmented reality (AR) educational toys, sustainable, and STEM toys is likely to boost the demand for educational toys year-on-year.
- Academic educational toy type holds the highest share in the market followed by cognitive thinking and motor skills toy type. However, cognitive thinking educational toy type is expected to witness the highest growth rate with a CAGR of 9.23% owing to the increasing focus on enhancing the logical and thinking skills of children.
- 3-8 years of age group is leading the global educational toy market and is expected to grow at a CAGR of 8.35%.
- The market is highly fragmented with various vendors that operate and sell educational toys across the world. There is intense competition among vendors for market share. As a result, a lot of merger & acquisitions are taking place to expand and improve the offerings to survive in the market.
- Production operations of most vendors are concentrated in China due to the local availability of raw materials required for the manufacturing of toys and presence of cheap labor in the country. However, the rising labor cost in the country is resulting in several vendors shifting their production to other countries such as Vietnam, Indonesia, and others.
- Impulse buying, which is common for children's toys, witnessed a considerable decline due to the shutdown of shopping malls and reduction in footfalls in various retail stores. Thus, safety concerns and lockdown restrictions affected the demand for educational toys in 2020. Also, store sales witnessed a slump of nearly 60%-70% due to the decline in impulse buying
- There has been a considerable rise in demand for puzzles and construction sets during 2020 as most families were locked in their homes due to the lockdown restrictions and were able to secure enough leisure time. Also, people were looking for toys that are both fun and challenging to keep the children engrossed during the lockdown
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by educational toy type, educator type, age group, distribution channel, category, and geography
- Competitive Landscape – 6 key vendors and 43 other vendors
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Educational Toys Market – Segmentation
- The rising awareness in APAC, Latin America, and Arab countries for children's education boosts the demand for educational toys across countries such as South Korea, Brazil, India, South Africa, and others. The development of STEM toys that make learning complex concepts easy and fun is expected to boost the demand for academic toys across countries.
- Classroom toys promote learning in a playful manner which prevents children from getting bored. The institutions are increasing the usage of board games and toys to foster regular education. This is expected to boost the demand for classroom games from various schools ranging from kindergarten to secondary schools across the countries.
- The children in this age group are required to develop several social and emotional skills. Games such as kitchen sets, doctor sets, ice cream shops, mechanic tools, and others remain popular among children. These encourage physical activity and promote activeness among children. Hence, the demand for such toys is projected to support market growth in the upcoming years.
Educational Toys Market by Educational Toy Type
- Academic
- Cognitive Thinking
- Motor Skills
- Others
Educational Toys Market by Educator Type
- Stem Activities
- Classroom Games
- After School
- Brain Breaks
- Gifted & Talented
- Lesson Plans
Educational Toys Market by Age Group
- 3-8 Years
- 8-12 Years
- 12+ Years
- 0-3 Years
Educational Toys Market by Distribution Channel
- Online
- Offline
Educational Toys Market by Category
- Indoor
- Outdoor
Educational Toys Market – Dynamics
Inspirational and aspirational toys are designed to promote interest in a wide range of professions. Such toys can help in widening the children's knowledge base with respect to several professions. The demand for these toys is growing rapidly as parents want their children to gain knowledge about various career options. The demand for musical instruments, such as guitar, piano, and drums, is high among children who aspire to become musicians. The other aspirational toys resulting in the growth of the educational toy industry include doctor kits, kitchen sets, arts and crafts, and other related toys. These toys help children to learn more about that profession, their roles, responsibilities, and experience the same during childhood while playing with them. Moreover, these toys also help children boosting their creativity and widening imagination.
Key Drivers and Trends fueling Market Growth:
- Tapping Omnichannel Opportunities
- Need for Motor Skill and Cognitive Development
- Rise in Demand for Sustainable Toys
- Growing Demand for STEM Toys
Educational Toys Market – Geography
In 2020, North America emerged as the most dominant geographical segment in the global educational toys market and accounted for a revenue share of 31.56%. Factors such as high disposable income, high literacy rate, and strong awareness of child development and early learning have accelerated the demand for educational toys in the region. Additionally, deep penetration of supermarkets and hypermarkets and significantly high access to the Internet and online shopping channels has also propelled the market growth in the region. The US and Canada are the major countries driving the demand for educational toys in North America and will continue to grow at a CAGR of 5.72% during the forecast period.
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Educational Toys Market by Geography
- North America
- US
- Canada
- APAC
- China
- India
- Australia
- Japan
- South Korea
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
Major Vendors
- Bandai Namco
- Hasbro
- LEGO
- Mattel
- Melissa & Doug
- Spin Master
Other Prominent Vendors
- Basic Fun
- C'Mon
- Digital Dream Labs
- Disney
- Engino.Net
- Fremont Die
- Funskool
- Goliath
- INI
- International Playthings
- Johnco
- K'Nex
- Leapfrog Enterprises
- Learning Resources
- Looney Labs
- Ludo Fact
- Mindware
- Orchard Toys
- OWI
- Paul Lamond Games
- Pegasus & Spiele
- Piatnik
- Playmobil
- Pressman Toys
- Ravensburger
- RoosterFin
- Schmidt Spiele
- Simbatoys
- Smartivity
- SmartLab
- Sphero
- Talicor
- Thames & Kosmos
- The Haywire
- The OP
- Thinkfun
- Tomy Company
- Top-Toy
- University Games
- Vtech Electronics
- Winning Moves Games
- WowWee Group Limited
- WizKids
Explore our consumer goods & retail technology profile to know more about the industry.
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About Arizton:
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SOURCE Arizton Advisory & Intelligence
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