Global Traditional Toys and Games Market: Overview
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.
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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:
- In 2018, Paul Lamond Games Limited introduced a new toy line in brick construction toys with focus on football in the shape of Nanostars. This new range of products is designed to mix the activity of building bricks and admiration of football amongst the kids. Such innovative toys are expected to boost creative and cognitive abilities amongst kids.
Some of the leading companies in the global traditional toys and games market include the following:
- Tomy Co. Ltd
- Dream International Limited
- Lego A/S, Bandai Namco Holdings Inc.
- LeapFrog Enterprises Inc
- Funskool Limited
- Jakks Pacific Inc
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.
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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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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