United States (US) Toy Market Overview, 2027

United States (US) Toy Market Overview, 2027

Bonafide Research 05-08-2022 64 Pages Figures : 7 Tables : 25
Region : North America Country : United States Category : Consumer Goods & Services Leisure

Toys play a significant role in developing children's minds by enhancing their thought processes and decision-making capacity. The toy industry has been evolving for years and is experiencing exponential growth in the United States. This growth is primarily due to the increasing birth rate and the high disposable income among its citizens. Thus, a growing number of dual-income households with both parents working tend to equate their absence with many toys and gifts for their kids while they are with their nannies. Moreover, doting parents are actively involved in their children's mental, physical, and emotional development. Besides, a toy is an object used for entertainment since prehistoric times. The demand for toys has risen in the United States due to concern over the safety of the raw materials utilised in building toys. Parents and educators gradually pick up green toys made of eco-friendly natural fabrics like clay, wood, plastic, etc. According to the research report "United States of America Toy Market Overview, 2027," published by Bonafide Research, the USA toy market was valued at above USD 27.34 billion in 2021 . According to the age group-wise segmentation, Bonafide Research has categorised the market for 0–8-year-old children, 9–15-year-old children, and over 15-year-old children. 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. In the USA, the outdoor and sports segment is a substantial market, as parents are primarily concerned about their kids' health and fitness. This factor fuels the demand for outdoor base products such as pools, play tents, aeroplanes, and others to support their children in various outdoor activities such as hiking, touring, camping, and others. The USA is one of the countries that is the largest importer of toys. Major companies like Mattel Inc., Hasbro Inc., Spin Master Corp., Funko Inc., LEGO Group, Vtech, Nerf, Ravensburger, and Nintendo are mainly focusing on expanding their overall product portfolio through regular product innovation activities in the United States. Based on the sales channel, the United States toys market includes online and offline. Offline sales channels segmented into department stores, toy and hobby stores, hypermarkets, and others are perfect sales channels for marketing toys in the United States, as shopping at the weekends is a popular choice for many families. Amazon.com is leading the toys and baby e-commerce market in the U.S., followed by Walmart.com. Third place is taken by Target.com. There are numerous independent toy stores across the United States that offer a curated selection of toys and unique items. Walmart, Target, Kmart, and Party City are some well-known offline distributors in the USA. Although Toys "R" Us filed for bankruptcy in 2017 and closed many of its stores, the company has reopened some locations under new ownership and continues to operate as a toy retailer. With a growing emphasis on science, technology, engineering, and mathematics (STEM) education, many startups have emerged to create toys that promote learning in these areas. Companies like LittleBits, Makey, and Snap Circuits offer innovative electronic building kits that encourage children to explore STEM concepts through hands-on play. Furthermore, startups like KiwiCo and Bitsbox offer subscription-based services that deliver educational and age-appropriate toys, STEAM projects, or coding activities to children on a monthly basis. Additionally, with a focus on sustainability and reducing waste, some startups have emerged with toy-sharing platforms. These platforms, such as ToyCycle and Pley, allow parents to rent or exchange toys instead of buying new ones, promoting a more circular economy and reducing environmental impact. Startups like MakieLab and My Friend Huggles enable children to personalise and design their own toys. They offer online platforms where kids can customise features such as appearance, clothing, and accessories, allowing for a unique and individualised play experience. The United States has government regulations and safety standards in place to ensure the safety of toys. The main agency responsible for regulating toys in the USA is the U.S. Consumer Product Safety Commission (CPSC). The CPSC has established guidelines and requirements that toy manufacturers, importers, and distributors must adhere to. Here are some key regulations and standards, which include the Consumer Product Safety Improvement Act (CPSIA), ASTM F963, Small Parts Regulation, Toy Safety Certification, and Labelling Requirements. The increasing personal disposable income and rising middle-class population are notably driving market growth, although factors such as the growing popularity of digital games and e-games may impede it. Digital and electronic games are replacing traditional toys such as construction toys. Sales of traditional toys are hindered by low consumer loyalty to traditional toys, including construction toys, and the introduction of various popular motion sensor games on digital gaming platforms. The number of mobile games is likely to increase during the forecast period due to the increasing use of smartphones. Considered in this report • Geography: United States of America • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • United States of America toy market with its value and forecast along with its segments • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation 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 kit. The secondary research consists of third party sources such as press Releases, annual report of companies, analysing 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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