Middle East & Africa Toy Market Research Report, 2027

Middle East & Africa Toy Market Research Report, 2027

Actual Market Research 02-08-2022 72 Pages Figures : 20 Tables : 24 Region : MEA Category : Consumer Goods & Services Leisure

The Middle East and Africa are two of the fastest growing toy markets in the world, very closely following Asia and the Pacific markets. The regions of the Middle East and Africa are rich with human and natural resources. The region enjoys a reasonable standard of living on average. However, countries that is part of the Middle East and Africa regions account for substantially varying amounts of resources, economic size, geographic size, demographics, and standard of living. Also, intra-regional activity is weak, principally restricted to labor flows with limited trade in goods and services. Traditional toys and games are an emerging market in the Middle East and Africa, driven mainly by a recovering economy, increasing disposable incomes, and high birth rates. The region holds very good prospects for traditional toys and games due to increased spending on baby and child-oriented products and a shift towards premiumisation. Traditional toys and games in the Middle East and Africa are expected to witness consistent growth over the forecast period, mainly driven by an improving economic and political environment along with increasing per capita income. With an average of 3.9 children born per female expected by the forecast period and rising disposable incomes, demand for traditional toys and games is expected to be driven by baby and child-oriented products. In the research titled "Middle East and Africa Toy Market Research Report 2027," the toy market in the Middle East and Africa has been segmented on the basis of age categories to which the toys cater product lines, and sales channels. The market had a market size of around USD 7.5 Billion in 2021, which is anticipated to expand at more than 9% CAGR during the forecast period. The age groups are 0-8 years old, 9-15 years old, and over 15 years old. The product lines for the toy market include: action figures; arts and crafts; building sets; dolls; games and puzzles; infant/toddler/preschool toys; youth electronics; outdoor and sports toys; plush toys; miniature vehicle replicas; and explorative toys. The population sizes of the Middle East, Africa, and Europe are very similar to each other. However, the Middle East and Africa's toy markets are an emerging market fuelled by a growing population, an average standard of living and higher disposable income with households. According to the World Bank data, the proportion of the population using the internet in 2015 was 47.92%, whereas in 6 years, the proportion of the population using the internet in 2021 has grown to 65%. Because of this heavy penetration of the internet in the region, it is expected that the Middle East and African countries can show strong growth rates in demand for licensed and branded products as the kids in the region will be more aware of the ongoing trends on the internet. As the toy companies are already shifting to online modes of marketing their products as well as selling their products, the toy companies are eyeing great opportunities in the region as far as the toy industry is concerned. Further, the greater penetration of the internet in the region is also expected to boost the e-commerce network in the region, which in turn is expected to develop new online sales and distribution channels for the toy market in the region. However, as per Actual Market Research’s study, despite e-commerce opportunities, the offline sales and distribution channels, which include physical retail stores, specialized stores, and supermarkets, will play a significant and crucial role in the future development and growth of the market. Growth in demand for licensed toys comes as digital media access in the region grows, along with the influence of major global brands. With rapid urbanization coupled with growth in the number of higher-income households, children are now being exposed to global and trending brands such as Ben 10, Barbie, and Toy Story, thereby driving the demand. In most countries in the region, construction remains the most profitable category. This trend was driven mainly by brand loyalty and a wide product assortment that appeals to both boys and girls of all ages. The category’s major players, such as LEGO Group, are extensively conducting promotional activities throughout the year to further increase brand visibility. In addition to that, non-store retailing was mainly driven by internet retailing, which is expected to grow gradually over the forecast period due to increasing internet penetration in the region, albeit still in its nascent stage. Driven by features such as convenience and anytime shopping, traditional retailers are adapting to this trend through services such as home delivery and click and collect models. In 2019, The LEGO Group launched a new headquarters for the Middle East and Africa region in Dubai—stepping up its efforts to bring products to kids across 68 markets. The firm earmarked the region for clear growth. By 2028, it is estimated that there will be around 125 Million children aged 0 to 14 years in the Middle East and North Africa region. The opening of the new regional headquarters will cover 68 new markets for the firm, including a sales office in Johannesburg that manages all Sub-Saharan countries and the Republic of South Africa. However, the COVID-19 as well as volatility in oil prices has led to some damage in the Middle East and African economies. The revised GDP projections for the coming years, 2021, and 2020 suggest that the Middle East and African regions may not recover from the pandemic triggered economic slowdown. However, the structure of the toy market is expected to develop steadily as the economy moves out of the slump and will be poised to show growth in the future. Major companies present in the market Bandai Namco Entertainment Inc., Hasbro Inc., The LEGO Group, Mattel, Brandstatter Group (Playmobil), Ravensburger, VTech, Kids II, Inc., Goliath Games, Artsana Group, Nintendo Co. Ltd. Considered in this report • Geography: Middle East & Africa • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Middle East & Africa toy market with its value and forecast along with its segments • Country-wise toy market analysis • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Countries covered in the report • UAE •Saudi Arabia •Qatar •South Africa Segment covered in the report By Product • Action Figures & ACC •Arts & Crafts •Building Sets •Dolls •Games/Puzzles •Infant/Toddler/Preschool •Youth Electronics •Outdoor & Sports Toys •Plush •Vehicles •Explorative & Other Toys By Age Group •0-8 years •9-15 years •15 years and above By Distribution Channel •Online •Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering, the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started, verifying the details obtained from secondary sources. Intended audience This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to pet care products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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