Global Baby Toys Market is expected to exhibit a stable 3.25% CAGR over the forecast period from 2020 to 2024, according to the latest research report from Market Research Future (MRFR). The global baby toys market is mainly driven by the growing birth rate in developing countries, the increasing disposable income of parents, and the increasing interest among parents to provide stimulating toys to their children. The report provides a detailed overview of the major drivers and restraints affecting the global baby toys market, including the impact of the COVID-19 pandemic on the market. The major players operating in the global baby toys market are also profiled in the report.
The baby toys market is mainly driven by the growing awareness about the benefits of baby toys in stimulating the babies’ sense of textures, colors, shapes, and sounds. Building and construction toys also help develop a baby’s motor skills and hand-eye coordination. Many parents are now getting their babies educational toys that help develop their senses. The increasing disposable income of parents around the world is thus likely to be a major driver for the global baby toys market over the forecast period. The increasing prevalence of working women has resulted in both parents earning, which results in a higher disposable income for the family. This is likely to be a major driver for the global baby toys market over the forecast period.
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The increasing birth rate and decreasing infant mortality in developing countries in Asia Pacific, Latin America, and the Middle East and Africa is likely to be a major driver for the global baby toys market over the forecast period. The volume of these markets is quite high; however, the baby toys market has been hindered in these regions by the high infant mortality rates in these regions. Increasing healthcare initiatives have reduced the infant mortality in these regions, leading to growing expenditure on baby toys. Developing regions such as Asia Pacific are likely to remain major regional markets for baby toys in the forecast period.
Leading players in the Global Baby Toys Market include WowWee Group Ltd., Tomy Company Ltd., Playmates Toys Ltd., Mattel Inc., The LEGO Group, Hasbro Inc., Artsana SpA, The Walt Disney Company, Funskool Ltd., and Me n Moms Pvt. Ltd. Major players in the global baby toys market are focusing on product innovation and development in recent years in order to come up with innovative baby toys. On the other hand, the ease of producing counterfeit baby toy products is a major restraint on the global baby toys market, as many unorganized players have entered the market in recent years and are likely to remain an important part of the market over the forecast period, especially in developing regions where legal restrictions remain vague and easily surmountable.
Global Baby Toys Market is segmented based on product type, category, distribution channel, and region.
By product type, the global baby toys market is segmented into baby rattles, bath toys, construction sets and building blocks, musical toys, dolls, soft toys, and puppets, toy cars, and others.
By category, the global baby toys market is segmented into newborn, infant, and toddler.
By distribution channel, the global baby toys market is segmented into store-based and non-store-based. The store-based segment is further sub-segmented into supermarkets and hypermarkets, convenience stores, and specialty stores. The store-based segment dominates the global baby toys market; however, the non-store-based segment is expected to grow at a robust growth rate over the forecast period.
Europe accounts for the major share in the global baby toys market, followed by North America and Asia Pacific. Europe accounted for close to 35% of the global baby toys market in 2020, followed by North America at 32%. Asia Pacific is likely to grow rapidly over the forecast period, driven by the steady growth of the baby toys market in China.
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