Toys represent the objects that are specifically designed for toddlers and young children to play with. These items are generally manufactured from clay, cloth, paper, plastic, etc., and are widely available in numerous sizes and colors. Some of the modern and traditional toys available in the market include dolls, miniature cars, puzzles, action figurines, board games, etc. They assist in facilitating the overall development of children while offering a boost to their creativity and stimulating their imagination. Toys also aid in enhancing their problem-solving capabilities and motor skills. Moreover, these products also help in de-stressing and improving the social and cognitive skills of toddlers.
The toys market in India reached a value of US$ 1.35 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.73 Billion by 2027, exhibiting a CAGR of 12.6% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The expanding population and the elevating urbanization levels are among the key factors driving the Indian toys market. In addition to this, the inflating availability of several product variants that are easily accessible across price ranges, facilitated by the growth of the organized retail supply chain infrastructures in the country, is also catalyzing the market growth. Furthermore, the increasing popularity of strategy-based and educational toys among children is acting as another significant growth-inducing factor. Besides this, the growing penetration of online or e-commerce portals, which offer a vast array of toys at competitive prices with attractive and flexible payment and return options to users, is further bolstering the market growth. Additionally, the escalating demand for Science, Technology, Engineering, and Mathematics (STEM)-based toys, especially among the urban population, is anticipated to fuel the Indian toys market over the forecasted period.
Some of the Top Indian Toys Manufacturing Companies:
Also Read Full Blog: Top Indian Toys Manufacturing Companies 2022
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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