India Toy Market Overview, 2027

India Toy Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition, Forecast & Opportunities.

India has one of the largest young populations in the world. owing to which the toy industry in the country has witnessed rapid growth. The existence of toys in India dates back to the Indus Valley Civilization around five thousand years ago. The earliest toys included whistles shaped like birds, toy monkeys that could slide down a string, and small carts made from materials found in nature such as sticks, clay, and rocks. Driven by a huge consumer base, India represents an important market for toys. With a population of around 1.3 billion, it is the second-most populated country in the world. Moreover, the country has a very large young population, with around half of the total population under the age of 25. In recent years, the advent of advanced technology and machinery has encouraged manufacturers to produce modern and innovative toys. The market is brimming with a wide array of both traditional and modern toys. However, with evolving trends, there has been a shift from conventional toys towards innovative and hi-tech electronic toys. For instance, Lego has replaced wooden building blocks, while Barbie dolls have now taken over traditional cloth dolls. According to the research report "India Toy Market Overview, 2027," published by Bonafide Research, the Indian toy market is expected to grow at a 10.24% CAGR from 2022 to 2027. There are a large variety of toys currently available on the market. The diverse product category ranges from traditional plush toys, construction and building toys, dolls, board games, and puzzles to high-end electronic toys, educational toys, ride-Ons, etc. There are toys that are domestically produced by small, medium, and large manufacturers, as well as those that are produced by renowned international brands. Each toy category has inexpensive and high-end versions. The youth electronics segment is likely to grow in the coming years. The popularity of video games and digital entertainment among Indian youth has been on the rise. Electronic toys that offer gaming experiences, virtual reality, augmented reality, and immersive storytelling are gaining traction in the market. Sales channels include online and offline channels. There are several wholesalers of toys in India that are well-known for their quality and range of products. Here are some of the best wholesalers of toys in India: Funskool India Ltd., Hamleys India, Mitashi Edutainment Pvt. Ltd., Simba Toys India Pvt. Ltd., and Super 99 Amazon, Flipkart, FirstCry.com, Hopscotch, Shopclues.com, Snapdeal.com, and Paytm Mall These are some of the popular online retailers in the Indian toy market.

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Labour-intensive toy categories like dolls, soft toys, and board games offer significant manufacturing potential in India due to their inherent cost competitiveness and growing demand. The sector is dominated by small and medium-sized manufacturers. Toy units in the MSME sector significantly contribute to both manufacturing and exports to large global and domestic brands. Government policies such as increasing customs duties on imported toys and mandating BIS certification requirements for imports not only boosted domestic manufacturing but also helped the industry explore global markets and enhance exports. According to industry experts, the demand for toys based on Indian mythological characters, desi movie characters, and superheroes such as Chota Bheem is on the rise as domestic players break away from the dominance of China and some other countries. Now the 'made-in-India' toys have a very clear edge in the domestic markets, and the manufacturers are scaling up their production capacity to meet the growing local as well as international demand. In the second half of 2020, Prime Minister Narendra Modi called upon startups and entrepreneurs to "team up for toys", as he noted India's minuscule share in the global toy market of over Rs 7 lakh crore and asserted that the country has the talent and ability to become a hub for the industry. Mitra Toy, Krayon Enterprises, Brainstorm Toys, Shumee, and Skillmaticsffer significant manufacturing potential in India due to their inherent cost competitiveness and growing demand. The sector is dominated by small and medium-sized manufacturers. Toy units in the MSME sector significantly contribute to both manufacturing and exports to large global and domestic brands. Government policies such as increasing customs duties on imported toys and mandating BIS certification requirements for imports not only boosted domestic manufacturing but also helped the industry explore global markets and enhance exports. According to industry experts, the demand for toys based on Indian mythological characters, desi movie characters, and superheroes such as Chota Bheem is on the rise as domestic players break away from the dominance of China and some other countries. Now the "made-in-India" toys have a very clear edge in the domestic markets, and the manufacturers are scaling up their production capacity to meet the growing local as well as international demand. In the second half of 2020, Prime Minister Narendra Modi called upon startups and entrepreneurs to "team up for toys," as he noted India's minuscule share in the global toy market of over Rs 7 lakh crore and asserted that the country has the talent and ability to become a hub for the industry. Mitra Toy, Krayon Enterprises, Brainstorm Toys, Shumee, and Skillmatics are a few instances of startups in the toy industry that align with the Make in India campaign. The city is called Noida and is located in the state of Uttar Pradesh. Noida is a prominent industrial and commercial hub near the capital city of Delhi. It is home to a dedicated area called "Toy City" or the "Toy Cluster," which is a manufacturing hub for toys. Indian festivals like Diwali, Durga Puja, and Navratri have a significant impact on the toy market. During these festive seasons, toy sales witness a significant surge, as gifting toys is a common tradition. India has several toy clusters, or hubs, where toys are manufactured on a large scale. Some notable clusters include Channapatna in Karnataka for wooden toys, Nirmal in Telangana for painted wooden toys, and Varanasi in Uttar Pradesh for handmade stuffed toys. Price sensitivity among Indian consumers is a challenge in the toy market. Many consumers prioritise affordability when purchasing toys, which can limit the market for premium or higher-priced toys. Price competition can sometimes hinder the introduction of innovative and high-quality toys. Furthermore, the vast geographical expanse of India poses distribution challenges for the toy market. Ensuring efficient and widespread distribution of toys, especially in remote areas and tier-2 and tier-3 cities, can be logistically complex and costly. Personalised and customised toys are in demand as parents seek unique and meaningful play experiences for their children. Customizable options, such as personalised puzzles, name-engraved toys, and DIY kits, offer opportunities for differentiation and added value. Additionally, there is a growing market for niche and specialty toys catering to specific interests, hobbies, and age groups. Specialty toys like puzzles, board games, collectibles, and DIY kits are gaining popularity among consumers. Adapting to evolving trends and leveraging market opportunities can help toy manufacturers and sellers thrive in the Indian toy market.

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Arun Kalwani

Arun Kalwani

Research Analyst

Considered in this report • Geography: India • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • India 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

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Arun Kalwani

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.

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Introduction
  • 2.1. Market Definition
  • 2.2. Market Scope & Segmentation
  • 2.3. Research Methodology
  • 3. India Macro Economic Indicators
  • 4. India Toy Market Category Analysis
  • 4.1. Key findings
  • 4.2. Market Drivers
  • 4.3. Market Restraints
  • 4.4. Opportunities
  • 4.5. Policies & Certification
  • 4.6. Value Chain Analysis
  • 4.7. Key Developments - 2021
  • 5. India Toy Market Trends
  • 6. India Toy Market Overview
  • 6.1. Market Size By Value
  • 6.2. Market Share
  • 6.2.1. By Products
  • 6.2.2. By Age Group
  • 6.2.3. By Distribution Channel
  • 7. India Toy Market Segmentations
  • 7.1. India Toy Market, By Products
  • 7.1.1. India Toy Market Size, By Action Figures & ACC, 2016 - 2027F
  • 7.1.2. India Toy Market Size, By Arts & Crafts, 2016 - 2027F
  • 7.1.3. India Toy Market Size, By Building Sets, 2016 - 2027F
  • 7.1.4. India Toy Market Size, By Dolls, 2016 - 2027F
  • 7.1.5. India Toy Market Size, By Games/Puzzles, 2016 - 2027F
  • 7.1.6. India Toy Market Size, By Infant/Toddler/Preschool, 2016 - 2027F
  • 7.1.7. India Toy Market Size, By Youth Electronics, 2016 - 2027F
  • 7.1.8. India Toy Market Size, By Outdoor & Sports Toys, 2016 - 2027F
  • 7.1.9. India Toy Market Size, By Plush, 2016 - 2027F
  • 7.1.10. India Toy Market Size, By Vehicles, 2016 - 2027F
  • 7.1.11. India Toy Market Size, By Other Toys, 2016 - 2027F
  • 7.2. India Toy Market, By Age Group
  • 7.2.1. India Toy Market Size, By 0-8 years, 2016 - 2027F
  • 7.2.2. India Toy Market Size, By 9-15 years, 2016 - 2027F
  • 7.2.3. India Toy Market Size, By 15 years and above, 2016 - 2027F
  • 7.3. India Toy Market, By Distribution Channel
  • 7.3.1. India Toy Market Size, By Online, 2016 - 2027F
  • 7.3.2. India Toy Market Size, By Offline, 2016 - 2027F
  • 8. India Toy Market Opportunity Assessment
  • 8.1. By Products, 2022F to 2027F
  • 8.2. By Age Group, 2022F to 2027F
  • 8.3. By Distribution Channel, 2022F to 2027F
  • 9. Competitive Landscape
  • 9.1. Porter's Five Forces
  • 9.2. Company Profiles
  • 9.2.1. Company 1
  • 9.2.2. Company 2
  • 9.2.3. Company 3
  • 9.2.4. Company 4
  • 9.2.5. Company 5
  • 9.2.6. Company 6
  • 9.2.7. Company 7
  • 9.2.8. Company 8
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Table
Table 1: India Toy Market Share By Product (2016, 2021 & 2027F)
Table 2: India Toy Market Size of Action Figures & ACC (2016 to 2027F) (in USD Billion)
Table 3: India Toy Market Size of Arts & Crafts (2016 to 2027F) (in USD Billion)
Table 4: India Toy Market Size of Building Sets (2016 to 2027F) (in USD Billion)
Table 5: India Toy Market Size of Dolls (2016 to 2027F) (in USD Billion)
Table 6: India Toy Market Size of Games/Puzzles (2016 to 2027F) (in USD Billion)
Table 7: India Toy Market Size of Infant/Toddler/Preschool (2016 to 2027F) (in USD Billion)
Table 8: India Toy Market Size of Youth Electronics (2016 to 2027F) (in USD Billion)
Table 9: India Toy Market Size of Outdoor & Sports Toys (2016 to 2027F) (in USD Billion)
Table 10: India Toy Market Size of Plush (2016 to 2027F) (in USD Billion)
Table 11: India Toy Market Size of Vehicles (2016 to 2027F) (in USD Billion)
Table 12: India Toy Market Size of Other Toys (2016 to 2027F) (in USD Billion)
Table 13: India Toy Market Size of 0-8 years (2016 to 2027F) (in USD Billion)
Table 14: India Toy Market Size of 9-15 years (2016 to 2027F) (in USD Billion)
Table 15: India Toy Market Size of 15 years and above (2016 to 2027F) (in USD Billion)
Table 16: India Toy Market Size of By Online (2016 to 2027F) (in USD Billion)
Table 17: India Toy Market Size of By Offline (2016 to 2027F) (in USD Billion)
Table 18: Key Facts of Company 1
Table 19: Key Facts of Company 2
Table 20: Key Facts of Company 3
Table 21: Key Facts of Company 4
Table 22: Key Facts of Company 5
Table 23: Key Facts of Company 6
Table 24: Key Facts of Company 7
Table 25: Key Facts of Company 8

List of Figures
Figure 1: India Toy Market Size By Value 2016 to 2027F (In USD Billion)
Figure 2: India Toy Market Share By Age Group (2016, 2021 & 2027F)
Figure 3: India Toy Market Share By Distribution Channel (2016, 2021 & 2027F)
Figure 4: Market Attractiveness Index, By Products
Figure 5: Market Attractiveness Index, By Age Group
Figure 6: Market Attractiveness Index, By Distribution Channel
Figure-7: Porter's Five Forces Meter of Toy Industry in India

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India Toy Market Overview, 2027

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