Kids Toys Market Worth to Reach $183.15Bn Globally by 2030 - Exclusive Report by The Insight Partners
Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Kids Toys Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product Type, Distribution Channel, and Geography," the Kids Toys market is expected to grow from $122.90 billion in 2022 to $183.15 billion by 2030; it is estimated to grow at a CAGR of 5.1% from 2022 to 2030.
Competitive Landscape and Key Companies:
KIRKBI A/S, Mattel, Inc., Hasbro, Inc., Clementoni S.p.A., Goliath Games, LLC, Atlas Games, Giochi Preziosi SpA, Bella Luna Toys, TOMY Company, Ltd., Simba Dickie Group GmbH are a few leading players operating in the kids toys market. These players focus on developing innovative and attractive products in kids toys market to meet the changing requirements of consumers.
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The global kids toys market is growing significantly due to the increasing population worldwide. The shifting preference from traditional toys to modern and hi-tech electronic toys drives kids toys market. The rising demand for sensory toys for kids with exceptional needs and the adoption of smart toys are expanding the kids toys market. Smart toys use technologies such as the Internet of Things (IoT) and smart devices to enhance kids' learning experience. For instance, Fisher Price Company offers smart teddy bears that can be operated & controlled by smart gadgets. Moreover, the emergence of mass digitalization & social networks has opened new opportunities for the kids toys market growth.
Shifting Preference Towards Modern and Hi-Tech Toys Propels Kids Toys Market Growth
The shift in preference towards high-tech and modern toys in the global kids toys market can be attributed to several key factors. Firstly, the rapid advancement of technology has led to the creation of innovative and interactive toys that increasingly captivate kids attention. These toys often incorporate augmented reality, artificial intelligence, and robotics, providing a unique and ...
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