Toy, Doll & Game Manufacturing in Canada - Industry Market Research Report

Round two: Industry exports will decline as domestically manufactured toys become less expensive

Toy, doll and game manufacturers have struggled over the current period. With manufacturers producing overlapping goods, price competition is high, forcing domestic manufacturers to reduce prices to compete with inexpensive imports from low-cost countries. This trend has led many large manufacturers to offshore their operations to take advantage of lower wage costs. The outbreak of COVID-19 had mixed effects on manufacturers as temporary closures of retailers led to a dip in growth for much of 2020, but a rise in leisure time and families spending more time at home offset some losses. Lower input costs in 2020 led to a spike in profit. Industry-wide revenue has been falling at a CAGR of 6.4% over the past five years and is expected to total $225.9 million in 2023, when revenue will climb by an estimated 0.4%. This industry manufactures dolls, doll accessories, action figures, toys, games, hobby kits and children’s vehicles, except metal bicycles and tricycles. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.