Baby toys companies play an integral role in shaping the early experiences of infants and toddlers, contributing to their cognitive, sensory, and motor development. These companies design and produce a diverse array of toys crafted with attention to safety, educational value, and engaging features. In this description, we will explore the world of baby toys companies, their products, and the significance of their role in fostering early learning and exploration.
Global Baby Toys Market
On July 19, 2023, WHP Global announced its plan for national store growth for its Babies R Us and Toys R Us brands. The retailer is eying $1 BN in market share from liquidating rival Buy Buy Baby. After officially opening its only U.S. store at the American Dream megamall, Babies R Us will push ahead with a national rollout, following the expansion model of its sister retailer, Toys R Us.
Recently, on Oct. 20, 2022, WHP Global announced the return of its Babies R Us and Toys R Us brands to the United Kingdom with the launch of digital flagship ecommerce. The UK's digital commerce launched a massive range of products on the Babies R Us and Toys R Us brands sites, aiming to further enhance the customer experience by offering engaging content, expert guides, and product differentiation.
On Jan.31, 2023, Vivid Goliath announced its entry into the nursery market with Modimi, a range of future-focused infant toys that grow from babies to toddlers. The new Modimi range is made from durable and recycled materials with sustainability at its core. These toys offer a wide variety of sensory and cognitive play experiences. Modimi encourages fine motor skills, color recognition, and hand strength in toddlers while allowing them to enjoy building & creating. Modimi represents a strategic move for the company into the infant sector.
On Feb. 15, 2022, Mastermind Toys (Canada), the largest specialty toy and children's book retailer, announced the expansion of its baby brand focused on development skills and the launch of its first digital Baby Play Guide. This guide features new line-ups from exciting brands alongside Mastermind Toys exclusives that support babies' development through play.
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Baby Toys Market Size was valued at USD 15.8 Billion in 2023. The Baby Toys market industry is projected to grow from USD 16.43 Billion in 2024 to USD 21.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.48% during the forecast period (2024 - 2032). Rising demand for skill-developmental baby toys, rising per capita disposable income in developing countries, and rising internet penetration are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rising per capita disposable income in developing countries is one of the major drivers. The market's expansion during the review period is also anticipated to be aided by rising demand for infant toys that promote skill development. However, the market expansion is hampered by the existence of an unorganized industry for infant toys. The threat of counterfeit goods, which is growing, is another significant obstacle to the market's expansion. However, strategic mergers and acquisitions provide up new opportunities for market expansion. Additionally, market growth is anticipated to be boosted in the upcoming years by the expansion of the organized retail sector in the Asia-Pacific region.
Baby care goods are one of the industries with the fastest growth in India due to the increase in the number of working women, especially in developing nations like India. The population's increased ability to purchase such high-end goods that guarantee greater infant health has led to a noticeable growth in the demand for baby products.
Also, Baby toy products are increasingly available online, and market growth is a result of rising internet usage. The factors that are driving the expansion of the baby toys market on the online platform include the rising number of smartphone users, simple access to internet connectivity, and an increase in the use of e-banking systems. Due to their busy schedules, people choose online shopping because it is more convenient than going to physical businesses, which not only provide immediate delivery to their doorsteps but also many discounts and offers at once. In the upcoming years, it is projected that mobile wallet usage would rise. Online retailers like Amazon, Flipkart, and others provide a wide selection of baby toys. To buy toys, individuals most usually choose online stores because it saves them time and gives them access to extra deals. As a result, the market for baby toys is expanding. Thus, driving the Baby Toys market revenue.
The Baby Toys market segmentation, based on type includes board games, soft toys & dolls, action toys, arts & craft toys, construction toys, vehicles, musical toys & rattles, other. The soft toys & dolls segment dominated the market, accounting for 35% of market revenue. One of the oldest and most well-liked toy categories is the doll, which has recently benefited from technological advancements like electronic dolls that can speak and walk. The most comfortable toys that kids are drawn to are dolls and soft toys.
The Baby Toys market segmentation, based on distribution channel, includes Infants, toddlers. The toddlers category generated the most income. Children that are 13 to 48 months old are considered toddlers. Toddlers love dolls, play cars, pretend kitchenware, playhouse accessories, art and craft supplies, building blocks, cuddly animals, and musical toys.
Baby Toys Distribution Channel Insights
The Baby Toys market segmentation, based on distribution channel, includes store-based (supermarkets & hypermarkets, specialty stores, others), non-store-based. The store-based category generated the most income. Since it is simple for youngsters to physically purchase the toys of their choice, the store-based segment is growing. Fast product delivery through offline locations is also promoting segment growth because it is convenient.
Figure 1: Baby Toys Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Baby Toys Market dominated this market in 2022 (45.80%), due to the younger population's and children's rising need for toys. Additionally, a number of regional producers are concentrating on developing innovative toys, which is anticipated to propel the North American baby toys market forward throughout the course of the projected year. Further, the U.S. Baby Toys market held the largest market share, and the Canada Baby Toys market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: BABY TOYS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Baby Toys market accounts for the second-largest market share. The market for infant toys in Europe is expected to increase due to consumers' growing preference for higher-quality games and toys. Over the anticipated period, Europe's high per capita disposable income and growing consumer preference for baby toys would further support the market's growth. Further, the German Baby Toys market held the largest market share, and the UK Baby Toys market was the fastest growing market in the European region
The Asia-Pacific Baby Toys Market is expected to grow at the fastest CAGR from 2023 to 2032. This increase can also be linked to a rise in the demand for baby toys that help children develop their skills in the area, which is expected to propel the Asia-Pacific baby toys market forward over the course of the forecast year. Moreover, China’s Baby Toys market held the largest market share, and the Indian Baby Toys market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Baby Toys market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Baby Toys industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Baby Toys industry to benefit clients and increase the market sector. In recent years, the Baby Toys industry has offered some of the most significant advantages to medicine. Major players in the Baby Toys market, including LEGO System A/S(Denmark), Mattel Inc.(U.S.), Hasbro Inc.(U.S.), Bandai Namco Holdings Inc.(Japan), Spin Master (Canada), Kids II Inc. (U.S.), Nintendo Co. Ltd. (Japan), Brandstätter Group(Germany), Tomy Company Ltd(Japan), Basic Fun! (U.S.).
A division of Kirkbi A/S, Lego AS (Lego) creates, develops, produces, and sells toys and games. The company provides toys for children ranging in age from 1.5 to 18 years. It creates goods that encourage children's imaginative play, the formation of ideas, and creative expression. The research and development department at Lego works to create new technologies that will support learning through play, anthropological research, trend spotting, and partnerships with educational institutions to better understand how children grow. It invests in investigating novel play styles and innovating fundamental play themes. In terms of a proportion of sales, the company spent DKK1,016 million on R&D in FY2021, which came out to 1.8%.
Toys and family items are designed, produced, distributed, and sold by Mattel Inc. (Mattel). Fashion dolls and accessories, playsets and vehicles, educational and other games, puzzles, media-driven items, and fashion-related toys are all part of the company's product line. Barbie, American Girl, Monster High, Polly Pocket, Fisher-Price, Thomas & Friends, Hot Wheels, Power Wheels, MEGA, and UNO are just a few of the brand names that Mattel uses to advertise its goods. Across the Americas, the Middle East, Europe, Africa, and Asia-Pacific, the company has commercial presence. The US city of EI Segundo is home to the Mattel corporate headquarters. Company and Gap announced a new clothing partnership in April 2023 to introduce the Gap x Barbie Collection.
Key Companies in the Baby Toys market include
Baby Toys Industry Developments
July 2022: In order to develop and promote items that encourage kids and collectors to embrace their inner explorers of space, Mattel, Inc. recently announced that it had reached a multi-year agreement with SpaceX. Under its renowned Matchbox brand, Mattel will start releasing toys in 2023 that are inspired by SpaceX. Parallel to this, Mattel Creations, the company's platform for cooperation and direct sales to consumers, will begin to feature collectibles inspired by space exploration.
March 2021: Kroeger Inc. and Basic Fun! have announced a new agreement for the latter's K'NEX subsidiary and associated brands.
Baby Toys Regional Outlook
Baby Toys Market Highlights:
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