North America Toy Market Research Report, 2027

North America Toy Market Research Report, 2027

Actual Market Research 02-08-2022 73 Pages Figures : 17 Tables : 26 Region : North America Category : Consumer Goods & Services Leisure

The North American toy market is primarily driven by the progress of the United States toy market. In a recent survey, almost 60 percent of American parents who normally buy toys online said yes. General stores and department stores were the next most popular shopping locations for toys in the United States. Some of the most popular toy brands in American households include LEGO, Hot Wheels, and Fisher-Price. Three out of the five major players in the global toy industry are American companies. North America is one of the most profitable and important regional markets for these companies. The toy industry's annual total economic impact in the U.S. was huge in 2021, while over 623,000 jobs directly related to the American toy industry were generated. In the research report titled "North America Toy Market Research Report, 2027," Actual Market Research has anticipated that the market will grow at a rate of above 4% CAGR during the forecast period. However, the market size stood at around 34 Billion USD in 2021. Further, the North American toy market has been segmented on the basis of age groups to which the toys cater the range of product lines, and the sales and distribution channels available. According to the age group wise segmentation, Actual Market Research has categorized the market for 0–8-year-old children, 9–15-year-old children, and over 15-year-old children. The major product lines taken into consideration in the market research are action figures, arts and crafts, dolls, building sets, games, puzzles, infants and toddlers, youth electronics, outdoor sports and toys, plush and vehicles, and explorative toys. Because of the increased spending on entertainment and play kits, North America is projected to dominate the toy market share. As per the U.S. Bureau of Labor Statistics data, spending on entertainment-related devices in the U.S. increased in 2020. These factors are likely to boost the market's growth. For instance, Danish company Lego, known for its interlocking plastic bricks, was the leading toy company worldwide with over 7.2 Billion U.S. dollars in revenue in 2020. Tokyo-based Bandai Namco ranked in second place with revenue of almost 6.6 Billion U.S. dollars amongst the major toy companies. Hasbro, Mattel, and Jakks Pacific completed the top five. Despite a slow growth rate, the region is showing growth in its 0–8 year category of toys in the toy market, which indicates that consumer spending in this category, has increased. This can also be a result of new product innovations in this category. The category of 0–8 year old toys usually consists of miniature replicas and other very basic and traditional toys, which gives enough scope for the manufacturers to bring something new to the market. This is also coupled with a reduction in the market share of the toy category for the over-15 age group as this category faces stiff competition from the video games and computer gaming markets. This can also explain why the market share of youth electronics is so small in the North American market. The most popular toys in the North American market are the outdoor and sports toy categories. Children early in their schooling lives adopt outdoor sports as their hobbies, which are usually fueled by the sporting culture given by the elementary and high schools in the region. The sales channels in the region are very broadly categorized into online and offline sales channels so that the broader themes pervading can be captured and explained. It has been observed and forecasted positively that although the offline sales channels will continue to play a crucial role in the growth of the toy market in the region, the online sales channels are also rapidly expanding and many of the toy majors operating in the region have resorted to the online modes of selling toys. Part of this expected growth in online sales is supported by the shopping trends that have been observed during the pandemic. Due to the respective governments' imposed lockdowns, social isolations, and other containment measures, many people shifted to online shopping for sales during the festive year. In the region, the majority of annual sales happen during the winter festive season. As consumers have experienced the feasibility and convenience of buying toys online, we can expect a lasting change in their mode of shopping preference. North America is also home to some of the major toy companies in the world, including Hasbro, Mattel, Fisher Price, and many others. Major companies present in the market Bandai Namco Entertainment Inc., Dream International Limited , Hasbro Inc., Jakks Pacific, Inc., The LEGO Group, Mattel, Brandstatter Group (Playmobil), Ravensburger, VTech, Kids II, Inc., K'Nex Industries Inc, Goliath Games Considered in this report • Geography: North America • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • North America 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 • USA • Canada • Mexico 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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