United States Toys Market Analysis
United States Toys Market is anticipated to be about US$ 41.06 Billion by 2032 from US$ 28.09 Billion in 2023. The CAGR for the market from 2024 to 2032 is 4.31%.
A toy is an object that kids mostly use for play. Playing with toys helps kids acquire lifelong abilities that they will need in the future. Playing with toys is a standard pastime for kids with educational value because it teaches them many essential life skills, such as how to solve problems. Toys range from the most basic to the most intricate, from a child's chosen stick they assume to be a hobby to elaborate and sophisticated mechanical systems. The development of coordination and other manual abilities stems from children's cumulative experiences handling toys like marbles, jackstones, and other objects that must be dealt with both hands and bodies. Spatial relationship puzzles test mental agility starting in early childhood.
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One of the key drivers of the toy market in the United States is the influence of popular media and entertainment franchises. Licensed toys based on characters from movies, television shows, video games, and comic books are perennial favorites among children and collectors alike. The success of blockbuster franchises like Star Wars, Marvel, and Disney Princesses has led to the creation of a vast array of toys, including action figures, playsets, and collectibles, driving sales in the market.
Technological advancements have also significantly impacted the toy market. Electronic toys, interactive games, and STEM (science, technology, engineering, and mathematics) are increasingly popular, reflecting the growing emphasis on educational and immersive play experiences. Products like coding robots, augmented reality (AR) toys, and virtual reality (VR) headsets provide children with opportunities to learn and explore new concepts while having fun.
Changing consumer lifestyles and preferences have led to a rise in demand for eco-friendly and sustainable toys. Parents are increasingly concerned about toy production's environmental impact and seek products made from organic materials, recycled plastics, and non-toxic paints. Toy companies respond to this demand by introducing eco-friendly products and incorporating sustainable practices into their manufacturing processes.
E-commerce has transformed the retail landscape for toys in the United States. Online platforms offer a vast selection of toys, convenient shopping experiences, and competitive pricing, driving growth in the market. Brick-and-mortar retailers have also adapted by enhancing their online presence and investing in omnichannel strategies, such as click-and-collect and same-day delivery options, to meet consumers' evolving needs.
United States Toys Company Analysis
The prominent companies in the United States toys market are Mattel Inc., Hasbro Inc., LEGO, Spin Master Corp., Vtech, Nintendo Company Ltd., Funko Inc., and JAKKS Pacific.
United States Toys Industry News
In December 2023 - A New Wave of "X-Men 97" Figures Unveiled by Hasbro. Early in 2024, pre-orders for the newest Marvel Legends Series figures will be accepted.
In November 2023 - Fat Brain Toys, one of the top direct-to-consumer toy companies in the country, released its list of the 2023 Hottest Toys. Foosbots are collectible and portable robots that spin to kick a ball when you squeeze their arms. Other toys include SpillAgain, VolleyShot, Trestle Tracks Pro, and new additions to their Pretendables line of pretend play. Air Toobz is a kid-safe turbine that shoots foam balls through modular tubes.
In September 2023 - Toys"R" Us®, the parent company of WHP Global, has ambitious new ambitions to grow the renowned toy brand. The company stated that it will open Toys"R" Us flagship locations nationwide in 2024 thanks to a partnership with Go! Retail Group. WHP also plans to introduce Toys"R" Us to the travel sector by creating a new shopping experience for cruise ships and airports. In November, Dallas Fort Worth International Airport will have the first Toys"R" Us airport store, thanks to a collaboration with Duty-Free Americas.
In July 2022 - Mattel and SpaceX, owned by Elon Musk, collaborated to introduce a new line of space toys.
By Toys Segmentation – Market is broken up into 11 viewpoints:
- Action Figures Accessories
- Arts Crafts
- Building Sets
- Dolls
- Explorative Others Toys
- Games/Puzzles
- Infant/Toddler/Preschool Toys
- Outdoor Sports Toys
- Plush
- Vehicles
- Youth Electronics
By Sales Channel – Market is broken up into 5 viewpoints:
- E-commerce
- Specialty
- Discounters
- Department Stores
- Others
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
- Mattel Inc.
- Hasbro Inc.
- LEGO
- Spin Master Corp.
- Vtech
- Nintendo Company Ltd.
- Funko Inc.
- JAKKS Pacific
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