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China Toys Market Report by Toys Segmentation, Sales Channel, End-Users and Company Analysis 2024-2032

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    Report

  • 120 Pages
  • April 2024
  • Region: China
  • Renub Research
  • ID: 5952069
China's Toys Market is anticipated to reach US$ 49.09 billion by 2032. The CAGR for the market from 2024 to 2032 is 6.05%. The analyst states that it totaled to US$ 28.93 billion in 2023.

Toys are items designed for play. They maintain great cultural and economic importance in China. With speedy economic development, growing disposable incomes, and the relaxation of the one-child policy, Chinese families are investing more in their kids' growth and happiness, such as shopping for toys. The impact of global media and famous traditions has also introduced Chinese kids to various toys from international brands. As a result, the toy enterprise in China continues to thrive. This displays the state's developing patron market and evolving cultural landscape.

China Toys Growth Drivers

Growth in Demand for Electronic Toys

Electronic toys are propelling growth in the China toys market. They are gaining a reputation amongst parents in search of innovative options because of their interactive factors like lighting fixtures, sounds, and touch screens, which enhance children's creativity. A Hong Kong Trade Development Council survey stated that boys across all age groups choose digital toys. Rising incomes enable families to spend money on higher-priced electronic toys, boosting market growth. Ongoing technological innovation is expected to expand China electronic toy sector to satisfy the growing demand for digital enjoyment.

Growing Parental Concerns

Rising parental issues concerning child development, protection, and education drive the expansion of the China toys market. Parents increasingly seek toys that entertain and stimulate their children's cognitive, social, and physical skills. Safety issues and a competitive educational panorama prompt prioritizing high-quality, safe educational toys. A mainland toy consumption survey by the Hong Kong Trade Development Council determined that 98% of parents surveyed had bought or had been inquisitive about STEM toys. This parental focus fuels demand for various toy offerings in China, spanning academic, developmental, and safe play alternatives.

Robust Economic Expansion and Increasing Disposable Incomes

The escalating demand for toys in China stems from robust financial growth and growing disposable incomes. China's per capita disposable income reached 39,218 Yuan (about 5,511 U.S. dollars) in 2023, marking a 6.3 percentage nominal increase year-on-year increase, with a 6.1 percent upward thrust after adjusting for price factors, according to the National Bureau of Statistics (NBS) reported. With more financial resources, households allocate toward discretionary spending, consisting of toy purchases. This growing affluence fuels a burgeoning toy market as parents prioritize their kid's well-being and amusement. This, in turn, drastically drives domestic demand for the China toys market.

Increasing Enforcement of Government Policies

Government rules power China toys market's growth by promoting domestic consumption and helping economic improvement. This is done through tax incentives, subsidies, and investment projects to stimulate innovation, enhance product quality, and increase competitiveness globally. In February 2024, the World Trade Organization (WTO) introduced a draft of mandatory requirements for toys and jewelry from the Standardization Administration of China, aiming to satisfy modern-day compliance necessities. The protection requirements and intellectual property protection regulations, which include compliance with the country-wide standard 'GB 6675-2014 Safety of Children's Toys' for plush toys, also bolster patron confidence in locally made toys. This similarly propels market growth and fosters innovation for sustainable industry improvement.

China Toys Company News

The players in the China toys market include Mattel Inc., Hasbro Inc., LEGO, Spin Master Corp., Vtech, Manhattan Associates, Funko, and JAKKS Pacific.
  • In April 2023 - Mattel and Hasbro collaborated to merge iconic toy brands through multi-year licensing agreements. This aims to produce co-branded toys and games. Notably, this partnership focuses on renowned franchises like Barbie, with Monopoly games set for fall 2023 release, and Transformers, featuring in upcoming UNO games, alongside Hot Wheels vehicles debuting in early 2024.
  • In September 2023 - VTech® will present its imaginative, discovery-focused product lineup at Toy Fair® 2023. This features Turbo Edge Riders™ and expanding award-winning lines like Go! Go! Smart Wheels®, Switch & Go®, and baby, infant, toddler, and preschool toys. VTech will also offer a preview of upcoming 2024 product releases.
  • In November 2023 - LEGO unveiled fresh toy sets at the China International Import Expo (CIIE), drawing inspiration from Chinese culture.
  • In December 2022 - The new MINDstyle Mission Control (MMC) store hosted a pre-opening celebration, unveiling a dedicated Funko section boasting larger-than-life statues and photo opportunities. Spanning 40,000 square feet, with the Funko area occupying 10,000 square feet, it offers an extensive array of Funko products, showcasing numerous licenses.

Toys Segmentation - China Toys Market breakup in 2 viewpoints:

1. Action Figures
2. Board Games
3. Card Games
4. Construction Sets & Models
5. Dolls & Stuffed Toys
6. Plastic & Other Toys
7. Puzzles
8. Toys for Toddlers & Kids

Sales Channel - China Toys Market breakup in 5 viewpoints:

1. E-commerce
2. Specialty
3. Discounters
4. Department Stores
5. Others

End-Users - China Toys Market breakup in 2 viewpoints:

1. Unisex
2. Boys
3. Girls

All the key players have been covered from 3 viewpoints:

  • Overview
  • Recent Development
  • Revenue Analysis

Company Analysis:

1. Mattel Inc.
2. Hasbro Inc.
3. LEGO
4. Spin Master Corp.
5. Vtech
6. Manhattan Associates
7. Funko
8. JAKKS Pacific

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. China Toys Market
6. Market Share - China Toys Analysis
6.1 Toys Segmentation
6.2 Sales Channel
6.3 End Users
7. Toys Segmentation - China Toys Market
7.1 Action Figures
7.2 Board Games
7.3 Card Games
7.4 Construction Sets & Models
7.5 Dolls & Stuffed Toys
7.6 Plastic & Other Toys
7.7 Puzzles
7.8 Toys for Toddlers & Kids
8. Sales Channel - China Toys Market
8.1 E-commerce
8.2 Specialty
8.3 Discounters
8.4 Department Stores
8.5 Others
9. End Users - China Toys Market
9.1 Unisex
9.2 Boys
9.3 Girls
10. Company Analysis - China Toys Market
10.1 Mattel Inc.
10.1.1 Overviews
10.1.2 Recent Development
10.1.3 Revenues
10.2 Hasbro Inc.
10.2.1 Overviews
10.2.2 Recent Development
10.2.3 Revenues
10.3 LEGO
10.3.1 Overviews
10.3.2 Recent Development
10.3.3 Revenues
10.4 Spin Master Corp.
10.4.1 Overviews
10.4.2 Recent Development
10.4.3 Revenues
10.5 Vtech
10.5.1 Overviews
10.5.2 Recent Development
10.5.3 Revenues
10.6 Manhattan Associates
10.6.1 Overviews
10.6.2 Recent Development
10.6.3 Revenue
10.7 Funko
10.7.1 Overviews
10.7.2 Recent Development
10.7.3 Revenue
10.8 JAKKS Pacific
10.8.1 Overviews
10.8.2 Recent Development
10.8.3 Revenue
List of Figures
Figure 01: China - Toys Market (Billion US$), 2019-2023
Figure 02: China - Forecast for Toys Market (Billion US$), 2024-2032
Figure 03: Toys Segmentation - Action Figures Market (Million US$), 2019-2023
Figure 04: Toys Segmentation - Forecast for Action Figures Market (Million US$), 2024-2032
Figure 05: Toys Segmentation - Board Games Market (Million US$), 2019-2023
Figure 06: Toys Segmentation - Forecast for Board Games Market (Million US$), 2024-2032
Figure 07: Toys Segmentation - Card Games Market (Million US$), 2019-2023
Figure 08: Toys Segmentation - Forecast for Card Games Market (Million US$), 2024-2032
Figure 09: Toys Segmentation - Construction Sets & Models Market (Million US$), 2019-2023
Figure 10: Toys Segmentation - Forecast for Construction Sets & Models Market (Million US$), 2024-2032
Figure 11: Toys Segmentation - Dolls & Stuffed Toys Market (Million US$), 2019-2023
Figure 12: Toys Segmentation - Forecast for Dolls & Stuffed Toys Market (Million US$), 2024-2032
Figure 13: Toys Segmentation - Plastic & Other Toys Market (Million US$), 2019-2023
Figure 14: Toys Segmentation - Forecast for Plastic & Other Toys Market (Million US$), 2024-2032
Figure 15: Toys Segmentation - Puzzles Market (Million US$), 2019-2023
Figure 16: Toys Segmentation - Forecast for Puzzles Market (Million US$), 2024-2032
Figure 17: Toys Segmentation - Toys for Toddlers & Kids Market (Million US$), 2019-2023
Figure 18: Toys Segmentation - Forecast for Toys for Toddlers & Kids Market (Million US$), 2024-2032
Figure 19: Sales Channel - E-commerce Market (Million US$), 2019-2023
Figure 20: Sales Channel - Forecast for E-commerce Market (Million US$), 2024-2032
Figure 21: Sales Channel - Specialty Market (Million US$), 2019-2023
Figure 22: Sales Channel - Forecast for Specialty Market (Million US$), 2024-2032
Figure 23: Sales Channel - Discounters Market (Million US$), 2019-2023
Figure 24: Sales Channel - Forecast for Discounters Market (Million US$), 2024-2032
Figure 25: Sales Channel - Department Stores Market (Million US$), 2019-2023
Figure 26: Sales Channel - Forecast for Department Stores Market (Million US$), 2024-2032
Figure 27: Sales Channel - Others Market (Million US$), 2019-2023
Figure 28: Sales Channel - Forecast for Others Market (Million US$), 2024-2032
Figure 29: End User - Unisex Market (Million US$), 2019-2023
Figure 30: End User - Forecast for Unisex Market (Million US$), 2024-2032
Figure 31: End User - Boys Market (Million US$), 2019-2023
Figure 32: End User - Forecast for Boys Market (Million US$), 2024-2032
Figure 33: End User - Girls Market (Million US$), 2019-2023
Figure 34: End User - Forecast for Girls Market (Million US$), 2024-2032
Figure 35: Mattel Inc. - Global Revenue (Million US$), 2019-2023
Figure 36: Mattel Inc. - Forecast for Global Revenue (Million US$), 2024-2032
Figure 37: Hasbro Inc. - Global Revenue (Million US$), 2019-2023
Figure 38: Hasbro Inc. - Forecast for Global Revenue (Million US$), 2024-2032
Figure 39: LEGO. - Global Revenue (Million US$), 2019-2023
Figure 40: LEGO. - Forecast for Global Revenue (Million US$), 2024-2032
Figure 41: Spin Master Corp. - Global Revenue (Million US$), 2019-2023
Figure 42: Spin Master Corp. - Forecast for Global Revenue (Million US$), 2024-2032
Figure 43: Vtech - Global Revenue (Million US$), 2019-2023
Figure 44: Vtech - Forecast for Global Revenue (Million US$), 2024-2032
Figure 45: Manhattan Associates - Global Revenue (Million US$), 2019-2023
Figure 46: Manhattan Associates - Forecast for Global Revenue (Million US$), 2024-2032
Figure 47: Funko - Global Revenue (Million US$), 2019-2023
Figure 48: Funko - Forecast for Global Revenue (Million US$), 2024-2032
Figure 49: JAKKS Pacific - Global Revenue (Million US$), 2019-2023
Figure 50: JAKKS Pacific - Forecast for Global Revenue (Million US$), 2024-2032
List of Tables
Table 01: China - Toys Market Share by Toys Segmentation (Percent), 2019-2023
Table 02: China - Forecast for Toys Market Share by Toys Segmentation (Percent), 2024-2032
Table 03: China - Toys Market Share by Sales Channel (Percent), 2019-2023
Table 04: China - Forecast for Toys Market Share by Sales Channel (Percent), 2024-2032
Table 05: China - Toys Market Share by End User (Percent), 2019-2023
Table 06: China - Forecast for Toys Market Share by End User (Percent), 2024-2032

Companies Mentioned

  • Mattel Inc.
  • Hasbro Inc.
  • LEGO
  • Spin Master Corp.
  • Vtech
  • Manhattan Associates
  • Funko
  • JAKKS Pacific

Methodology

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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