Educational Toys Market Size was valued at USD 65.3 Billion in 2022. The Educational Toys market Distribution Channel is projected to grow from USD 72.2 Billion in 2023 to USD 160.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.50% during the forecast period (2023 - 2032). Expanding government measures to promote the local toy production sector and expanding number of parents concentrating on enhancing the problem-solving skill and creativity in children, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Internet-connected educational toys with high-tech advances are becoming increasingly popular among an expanding population of tech-savvy consumers. A smart toy operates through embedded sensors and on-board electronics and has its own intelligence. Despite their high costs, smart toys are favoured above other learning toys for their ease of use and tailored instructive approach. The increased acceptance of these smart toys is projected to produce a strong demand for Science, Technology, Engineering and Math (STEM) toys worldwide over the forecast timeframe. STEM toys are designed to promote the problem solving skills and creativity in youngsters in an intriguing and engaging manner. With a rising number of parents focusing on making their children future-ready by purchasing smart toys, STEM toys are likely to witness a robust over the forecast period.
Government support within the toy manufacturing market is projected to encourage industry expansion over the projection timeframe. Led by India, the worldwide market is likely to witness significant government support across countries, with an increased desire to enhance local toy manufacturing and increase usage. For instance, in February 2020, the Government of India (Gol) approved the construction of eight toy clusters in the states of Madhya Pradesh, Rajasthan, Tamil Nadu, Uttar Pradesh, and Karnataka. This measure demonstrates the government's goal to develop the local toy manufacturing sector in the foreseeable future.
Learning and educational toys are a type of toys that play a key part in the growth and development of children. They are vital for brain growth as studying educational toys acquire logical and reasoning skills and facilities to get spatial reasoning. Playing with toys and board games aids children in learning and building social and communication skills. The increasing demand for strategy-based & educational-based toys among children supports the growth of the learning and Educational Toy Market. Trending variables such as new artificial intelligence toys for S.T.E.M (science, technology, engineering, and mathematics) education, growing 3D shapes in toy designs, and surging green educational and eco-friendly toys will drive the Educational Toy Market globally in the following years. Moreover, the rising range of online consumers is a driving factor for the Educational Toy Market during the forecast period all throughout the globe.
Developments in the childcare sector and the discovery of new technology are the key drivers that drive the growth of the industry. The availability of new digital and Al quality educational toys is the cause to promote the expansion of the worldwide Educational Toy Market. There is an upsurge in demand for toys with innovative functionalities. Thus, driving the Educational Toys market revenue.
The Educational Toys Market segmentation, based on Type, includes Arts & Crafts, Role Play, Games & Puzzles, Motor Skills, Musical Toys, STEM Toys, and Other Toys. Motor skills segment dominated the global market in 2022. Motor skills toys are popular owing to several benefits such as hand-eye coordination enhancement, shape identification, color recognition, improvement of problem solving skills, gross & fine motor skill development, and cause & effect knowledge. Motor skills toys are probably going to use magnetic components more frequently for simplicity of use as toy manufacturers concentrate on establishing product distinction. A wide array of motor skills toys are easily available across all distribution channels, ranging from local toy shops to specialist stores and e-commerce websites.
The Educational Toys Market segmentation, based on Age Group, includes 0-4 Years, 4-8 Years, and Above 8 Years. The 0-4 years segment dominated the Educational Toys Market in 2022. The increasing need to increase children's intelligence quotient (IQ) from a tender age is surging the demand for educational toys in the 0-4 years segment. From a production aspect, choking is a primary issue while making these toys for children in the age group of 4-8 years.
The Educational Toys Market segmentation, based on Distribution Channel, includes Supermarkets & Hypermarkets, Specialty Stores, E-commerce, and Others. Supermarkets & hypermarkets segment dominated the global market in 2022. Supermarkets & hypermarkets are the most popular distribution channels for learning toys. Hypermarkets such as Walmart are growing more aggressive in the toys area by offering huge discounts, especially during holiday seasons. The speciality retailers segment is projected to enjoy tremendous growth in the future years. The increased popularity of specialised stores is attributed to the mushrooming growth of company-owned brick-and-mortar stores.
Figure 1: Educational 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 Asia Pacific Educational Toys market dominated this market in 2022 (45.80%). A sizable client base is what propels the regional market. The Asia Pacific market has been witnessing significant developments in the toys space over the years. In August 2020, the Government of India (Gol) stated its goal to build India into a global toy hub. Such initiatives will encourage other countries to enhance their domestic learning & education toys manufacture. Moreover, China’s Educational Toys market held the largest market share, and the Indian Educational Toys market was the fastest growing market in the Asia-Pacific 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: EDUCATIONAL TOYS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North America Educational Toys Market is expected to register significant growth from 2023 to 2032. The North America market is primarily driven by the increasing levels of demand from consumers/shoppers and merchants alike for 'Made in USA' learning & education products. Further, the U.S. Educational Toys market held the largest market share, and the Canada Educational Toys market was the fastest growing market in the North America region.
Europe Educational Toys market accounted for the healthy market share in 2022. The market for educational toys in Europe is expanding as a result of the growing acceptance of green and ecologically friendly items. Due to the health risks/problems linked with synthetic materials, educators and parents in the region, led by nations like the U.K. and Germany, are expected to contribute to the adoption of greener products. Further, the German Educational Toys market held the largest market share, and the U.K Educational Toys market was the fastest growing market in the European region
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Educational Toys market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global 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, Educational 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 global Educational Toys Industry to benefit clients and increase the market sector. In recent years, the Educational Toys Industry has offered some of the most significant advantages to medicine. Major players in the Educational Toys market, including Mega Home Appliances, Big Ass Fans, Hunter Fan Company, Crompton Greaves, and Del Mar Fans & Lighting, are attempting to increase market demand by investing in research and development operations.
In order for all children to discover themselves, their interests, and their purpose, Melissa & Doug produces educational toys and children's goods that spark their curiosity and sense of wonder. Through independent, big-box, and e-commerce retail channels, the company sells toys for babies and toddlers, puzzles, stuffed animals, arts and crafts supplies, and educational toys throughout the United States. A U.S.-based firm named Melissa & Doug introduced Timeless Toys in June 2021 with the goal of reaching more parents and introducing them to its items through digital channels like Hulu, YouTube, and Amazon.
For the casino, interactive, and gaming industries, Everi Holdings Inc. offers entertainment and technological solutions. Both the Games and Financial Technology Solutions (FinTech) segments make up its business. Gaming technology products and services from Enveri Games include gaming machines, slot machines, leased gaming equipment, as well as other goods and services for gaming operators. Enveri FinTech offers financial technology products and services to gambling operators, including tools and services that make it easier for casino visitors to acquire cash at gaming facilities through ATMs, point-of-sale debit card purchases, and other methods. For an undisclosed sum in January 2022, Atlas Gaming Pty Ltd and Atlas Gaming Technologies Pty Ltd have agreed to sell some of their assets, including their intellectual property and game development technology, to Everi Holdings Inc., a US-based provider of land-based and online casino gaming content and products.
Educational Toys Industry Developments
January 2019: The German toy firm Simba Dickie Group purchased Jada Toys, a U.S.-based producer of preschool toys. The goal of the action was to establish a foothold in the American toy market. Significant market players are anticipated to use mergers and acquisitions as their primary competitive strategy in the upcoming years given the escalating level of competition in this market.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 65.3 Billion |
| Market Size 2023 | USD 72.2 Billion |
| Market Size 2032 | USD 160.4Billion |
| Compound Annual Growth Rate (CAGR) | 10.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Age Group, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Mega Home Appliances, Big Ass Fans, Hunter Fan Company, Crompton Greaves, and Del Mar Fans & Lighting |
| Key Market Opportunities | Increasing preference for environmental friendly educational toys |
| Key Market Dynamics | Rising government initiatives to expand the local toy manufacturing sector and rising number of parents focusing on improving the problem-solving skill and creativity in children |
Frequently Asked Questions (FAQ) :
The Educational Toys Market size was valued at USD 65.3 Billion in 2022.
The global market is projected to grow at a CAGR of 10.50% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Mattel, LEGO System A/S, Melissa & Doug, Ravensburger, The Simba Dickie Group, TOMY, JAKKS Pacific, Inc., GoldLok Toys, WowWee Group Limited, and CocoMoco Kids
The Motor Skills Type dominated the market in 2022.
The 0-4 Years Age Group had the largest share in the global market.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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