Traditional Toys and Games Market in US Estimated at $26.2 Billion in 2016
The Traditional Toys and Games Market in US estimated at $26.2 billion in 2016 and has experienced strong growth in the past two years. This trajectory is likely to continue into 2017 given the positive economic climate and the anticipated release of new installments in movie franchises popular with kids.
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According to the latest report, the toys market has shown strong growth in the past two years, standing at an estimated value of $26.2 billion in 2016 and this trajectory is likely to continue into 2017. It is because the positive economic climate in the country and the release of new installments in movie franchises that are popular among kids. Outdoor toys leads the market; ownership of dolls are decreasing whereas toy guns are increasing. Character marketing is also an important component of growth, but toy companies are also looking to embrace new technologies such as robotics and augmented reality into their products to delight customers. In addition to the improvements in traditional toys and games market, video games also saw increases, partly due to the continuing transition in video games’ software.
Nowadays, the increasingly digital lifestyles of consumers worldwide and exposure to technology at an early age are pushing manufacturers to develop smart and engaging electronic Toys and Games for kids. This innovation will continue to bring in new opportunities for demand growth in the coming years.
The report begins with the brief overview about the toys and games market and along with that it also summarizes the opportunities and issues. Some of the major issues are-
• 12+ age kids are out of the toy categories
• Older adults have limited exposure to the market
• Toys and games sales are also affected by decreased birth rate
• Amazon a likely choice for shoppers with older kids
Some of the major key manufacturers of traditional toys and games are mentioned in the report, such as
• Hasbro Inc.
• Jakks Pacific
• MGA Entertainment
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The report studies that, Mattel and Hasbro Inc. are the two manufacturers that will remain the leaders in toys and games market due to their wide offerings across product categories. The 2011-2016 forecast period appears very promising for toys and games. Dolls and accessories, traditional toys as well as games and puzzles, performed well in 2015. This was partly driven through licensed toys, such as dolls and accessories with the frozen license.
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