Educational Toys Market

Smart Toys Backed by Technology to Bode Well for the Educational Toys Market

New paradigm of knowledge transfer and learning has revealed that children’s ability to grasp in an interactive environment significantly increases. In this backdrop, learning by leveraging next generation technology has replaced books and blackboards, allowing children to critically think and learn creativity by using real time examples. Educational toys backed by internet connectivity that feature high-tech innovations are gaining high traction among tech savvy customers. With growing advancements in technology, advent of smart educational toys with embedded sensors and electronics has become possible. Albeit higher prices associated with smart educational toys, their demand is likely to grow in the market as they are easy to use and perceived to be instructive providing a personalized touch.

In this background, increasing inclination towards smart toys is expected to provide a wide scope of growth for STEM (Science, Technology, Engineering and Math) toys on the global front. These toys are specifically designed to instil problem solving attitude among children along with creativity in a much engaging and intriguing manner. By using such toys, children do not feel mental fatigue and thus do not refrain from gaining knowledge in their own personalized way. That said, growing inclination towards STEM toys integrated with technology is expected to bolster growth of the educational toys market worldwide.

As per study, the global educational toys market stood at around US$65 Bn in 2020 and is projected to grow at a rate of over 9% in the next 8 years to touch roughly US$130 Bn.

Government Support to Augur Well for Educational Toys Market Growth

Like any other industry, favourable government support remains instrumental in driving growth in the global market. Support of government authorities in the toy manufacturing sector is expected to give momentum to the growth of the educational toys market. For instance, in 2021, the government of India approved 8 toy manufacturing clusters valued at INR 2,300 crore. Off these, 3 clusters are approved in Madhya Pradesh, one in Karnataka, one in Uttar Pradesh, one in Tamil Nadu and 2 in Rajasthan. The Indian government aims at developing 35 toy clusters in a bid to boost the toy industry in the country in the coming years. Thus, supportive government initiatives and schemes are expected to augur well for the market.

Motor Skills to Witness High Demand among Customers

Demand for motor skills in educational toys is expected to increase at a higher rate in the coming years. The sales of motor skills promoting educational toys are estimated to account for a significant share in the market and the trend is expected to maintain status quo going forward. This is mainly due to advantages offered by motor skills such as hand-to-eye coordination, muscle coordination, colour recognition, shape identification and problem solving skills. That said, growing demand for motor skills is expected to significantly contribute to the growing sales of educational toys.

Asia pacific to Reflect High Growth Potential; Europe Likely to Account for a Significant Share in the Educational Toys Market

Demand for educational toys across emerging economies in Asia Pacific is expected to increase at a momentous pace in the coming years. This is mainly due to growing customer pool across countries such as China and India coupled with increasing inclination towards the concept of “learning while playing”. Moreover, favourable government support has encouraged the development of educational toys. For instance, in 2020, the Indian Government expressed its aim to focus on establishing India as a global hub for toys. For this initiative, Indian government has also sanctioned land and significant investments. In addition, being a manufacturing friendly region, Asian countries offer cheap labour and land along with business favouring aspects. Increasing middle class population across India and China has embossed a positive impact on the growth of the educational toys market by encouraging manufacturers to provide different varieties of pocket friendly educational toys.

On the other hand, developed counties across Europe and North America are expected to showcase steady growth in the market. Largely driven by the demand for eco-friendly educational toys integrated with technology, the valuation market in Europe is estimated to account for a significant share in the overall market.

Educational Toys Market: Competitive Landscape

Few of the players in the educational toys market include Mattel, LEGO System A/S, Melissa & Doug, WowWee Group Limited and Goldlock Toys.

Global Educational Toys Market is Segmented as Below:

By Type

• Arts & Crafts
• Role Play
• Motor Skills
• Games & Puzzles
• Musical Toys
• STEM Toys
• Others

By Age Group

• 0-4 Years
• 4-8 Years
• Above 8 Years

By Distribution Channel

• Supermarkets & Hypermarkets
• E-commerce
• Specialty Stores

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Rest of Europe
• Asia Pacific
  • Japan
  • South Korea
  • India
  • China
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa 

Key Elements Included In The Study: Global Educational Toys Market

• Educational Toys Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2021
• Market Value at Regional and Country Level, 2022 - 2029
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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Disclaimer:

• The segmentation/company profiles/countries depicted above may vary in the actual report.