United States Toys Market By US Industry Size, Share, Trends, Opportunity and Forecast 2027 - TechSci Research

The United States toys market is anticipated to project robust growth in the forecast period with an impressive CAGR of 4.13% and is expected to reach around USD28 billion by the end of 2027. The toys market in the United States is growing steadily owing to the increasing number of dual-income households and improving purchasing sentiments, which will drive the market's growth in the next five years.

Additionally, some of the other major factors contributing to the growth of this market include the rise in technology, which has led to an increase in demand for educational toys and digital toys in the market, attractive packaging of the products offered, and a wide variety of toys offered. All these factors are expected to drive the growth of the United States toys market by 2027.

 

Toys have been around since the dawn of time and come from a wide range of cultures. The ball, kite, and yo-yo are thought to be among the earliest designed as toys. Toys range in complexity from the simplest to the most complex, from a child's choice of a stick to be imagined as a hobbyhorse to sophisticated and complex mechanical devices.


Coordination and other manual skills are developed through a lifetime of manipulating toys like marbles, jackstones, and other objects that require the use of hands and bodies. Open-ended toys can help children develop their creativity and imagination. Toys teach kids about STEAM (science, technology, engineering, art, and mathematics). Toys aid in the development of a child's motor skills and toys can assist a child's emotional development.


These are some of the important factors that help in child development. In the United States toys market is segmented into outdoor and sports toys, dolls, vehicles, plush, and others (action figures, construction toys, games & puzzles, etc.). Further, in terms of distribution channel, the United States toys market has been segmented into supermarkets/hypermarkets, specialty stores, online, and others (stationery stores, gift shops, kiosks, etc.).


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COVID Impact on Industry

Toy manufacturers faced challenges because their operations were either shut down for a period of time or were operating at a reduced capacity due to the COVID-19 pandemic. Although certain products use electronic components, most toys and games are made from basic raw materials such as plastic, paper, and cardboard. All these materials are readily available, but their prices may fluctuate significantly.

Certain chemicals (such as phthalates and BPA) have been banned by the federal, state, and local governments in the country. However, the companies' manufacturing capacity and the supply of components, accessories, and finished products that they purchase from unaffiliated manufacturers are sufficient to meet the anticipated demand for our products in 2021.

Upsurge in Sales Through E-commerce Propelling the Market Growth

Due to the closure and limited access to retail stores during the COVID-19 pandemic, consumers increasingly purchased products online rather than in-store, and e-commerce sales represented a significant portion of overall sales to these customers in 2021. Due to the COVID-19 pandemic, the increasing amount of e-commerce sales resulted from customers’ changing shopping patterns.

For instance, The Hasbro Brand Blueprint was created with the goal of reshaping the company into a more adaptable and digitally driven entity, expanding e-commerce capabilities, and attracting and developing a high-performing and diverse workforce through human capital investments. For instance, in 2021, Mattel, Inc., grew its e-commerce business by approximately 50% in the year.

Rise in Social Media Influence of Toy Companies to Propel Market Growth

Toy companies are forming partnerships with various marketing agencies and popular social media influencers related to children's content to establish a strong brand image. Pinterest, Snapchat, and Instagram are examples of platforms that can show the toys in action and allow users to easily share photos or videos of themselves or their children playing with the toys.

Inaccurately anticipating change and trends in popular culture, media, fashion, or technology can adversely affect the toys industry

Characters in the media, films and children's books frequently change, contributing to the transience and ambiguity of play preferences. However, strikes and delays in the release of these books and series hamper the spread of awareness of the latest launches among consumers, which further affects the toy industry's sales.

Moreover, the younger generation is gravitating towards sophisticated technology products such as video games, consumer electronics, and social and digital media, impacting the traditional toy and game industries. Therefore, companies should focus on proper research and development on consumers' trends and changing preferences to meet the demands by introducing innovative technology-based products. For example, Mattel, Inc. is more into traditional toys and games but is now offering sophisticated technology products such as Mattel 163 mobile game, launched with the joint venture with NetEase.


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Market Segmentation

The United States toys market is segmented based on product type, distribution channel, region, leading states, and competitional landscape.

Based on product type, the market is further fragmented into outdoor and sports toys, dolls, vehicles toys, plush toys, and others (action figures, construction toys, games & puzzles, etc.). The Outdoor & Sport Toys is further sub-segmented into skates/scooters and skateboards, sports ball, and others which includes water toys, pool floats, toy sports products. Within dolls category, the market is segmented into fashion dolls, baby dolls, and others which includes miniature dolls, China dolls, etc.

In terms of vehicle toys category, the market is divided into electronic vehicle and non-electronic vehicle. In terms of plush toys category, the market is segmented into stuffed animals toys, cartoon toys and others which includes customizable stuffed toys, special soft doll, etc. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online, and others (stationery stores, gift shops, kiosks, etc.). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among South, West, Mid-West and North-East.

Company Profiles

The Lego Group, Hasbro, Inc., Mattel, Inc., Spin Master, Inc., Funko, Inc., Jakks Pacific, Inc., VTech Holdings, and Tomy Company, Ltd., U.S. TOY Co., Inc., Manhattan Group LLC, are among the leading companies in the United States toys market.

Attribute

Details

Market size value in 2021

USD22.50 Billion

Revenue Forecast in 2027

USD28.17 Billion

Growth Rate

4.13%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022E

Forecast Period

2023F – 2027F

Quantitative Units

Revenue in USD Billion, and CAGR for 2017-2021 and 2022E-2027F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Product Type

·         Distribution Channel

·         Region

·         Company

Regional Scope

South, West, Mid-West and North-East

Key Companies Profiled

The Lego Group, Hasbro, Inc., Mattel, Inc., Spin Master, Inc., Funko, Inc., Jakks Pacific, Inc., VTech Holdings, and Tomy Company, Ltd., U.S. TOY Co., Inc., Manhattan Group LLC.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the United States toys market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United States Toys Market, By Product Type:
    • Outdoor and Sports Toys
    • Dolls
    • Vehicles Toys
    • Plush Toys
    • Others (Action Figures, Construction Toys, Games & Puzzles, etc.)
  • United States Toys Market, By Distribution Channel:
    • Supermarkets/Hypermarkets
    • Specialty Stores
    • Online
    • Others (Stationary Stores, Gift Shops, Kiosks, etc.)
  • United States Toys Market, By Region:
    • South
    • West
    • Mid-West
    • North-East

·         United States Toys Market, By Leading States:

    • California
    • Texas
    • New York
    • Illinois
    • Florida
    • Ohio
    • Pennsylvania
    • New Jersey
    • Georgia
    • North Carolina

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in United States toys market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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