These days, more parents are encouraging their children to play outdoor games and sports, owing to the increased prevalence of obesity in children and various other health-related issues in children. As such, parents are increasingly buying various sports and outdoor toys, which is likely to play an important role in the growth of the global traditional toys and games market over the timeframe of analysis, from 2020 to 2030. In addition to sports and outdoor toys, construction toys are experiencing a rise in demand as well. Construction toys are needed for the development of intellectual and cognitive abilities amongst kids from different age groups. This factor is likely to drive the demand for construction toys.
There has been an increased awareness amongst the teachers and parents about the role played by construction toys to develop creative and spatial skills amongst the kids of pre-school age. This factor is estimated to boost the sale of traditional toys in the years to come. Three has been a rise in the use of construction toys amongst adult kids as well, which is estimated to augment the learning capabilities of adult kids. Rising demand for construction toys is expected to trigger development of the global traditional toys and games market over the timeframe of assessment, from 2020 to 2030. Many manufacturers have now shifted their focus on developing new design options and shapes in construction toys to instigate creativity in children.
The global traditional toys and games market has been segmented on the basis of three important parameters, which are product type, distribution channel, and region.
Global Traditional Toys and Games Market: Notable Developments
One of the latest developments in the global traditional toys and games market that is likely to leave an impact on the market is mentioned as below:
Some of the leading companies in the global traditional toys and games market include the following:
Global Traditional Toys and Games Market: Key Trends
The global traditional toys and games market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
Online Reailing and Increasing Disposable Income to Shoot Up Demand in the Market
The rising popularity of online retailing is enabling hassle-free purchase and browsing of products from an extensive range of traditional games and toys that are found on the internet. In addition to that, online retailing is making the entire shopping experience a lot easier and convenient. These features of online shopping are likely to open up new channel of sales for the seller of traditional toys and games. This factor is likely to play an important role in the growth of the global traditional toys and games market over the timeframe of assessment, from 2020 to 2030.
Increasing disposable income of the people is likely to emerge as another important growth factor for the global traditional toys and games market in the years to come. Affordability of the people rises with the rise in disposable income, which is expected to increase the sale of traditional toys and games. Online advertising is expected to help manufacturers promote their toys to a large base of consumers, they could also target specific age groups as well. Online promotions are likely to work in favor of the market over the period of assessment, from 2020 to 2030.
Global Traditional Toys and Games Market: Geographical Analysis
Europe and North America are estimated to observe sluggish growth in the global traditional toys and games market owing to rising inclination toward video games and smart phone games. However, Asia Pacific is likely to present lucrative growth opportunities, thanks to high birth rate and rising disposable income of the people.