Toys Market size in Europe to increase by USD 8.75 Bn | Huge Growth Opportunities in Activity Toys and Accessories Segment | Technavio – PRNewswire

February 4, 2022 by No Comments

Toys Market in Europe: Facts at a glance
Pages: 120
Companies mentioned: Atlas Games, Clementoni Spa, Franckh Kosmos Verlags GmbH and Co. KG, Hasbro Inc., LEGO System AS, Mattel Inc., Ravensburger AG, The Goliath Games LLC, TOMY Co. Ltd., and VTech Holdings Ltd.
Segments: Product (activity toys and accessories, soft toys and accessories, outdoor and vehicle toys, games and puzzles, and others) and Distribution channel (specialty stores, e-retailers, hypermarkets, and department stores)
Geographies covered: the UK, France, Germany, Italy, and the Rest of Europe

Toys Market size in Europe to grow by USD 8.75 billion

Technavio’s latest market study on toys market in Europe estimates growth of USD 8.75 billion between 2020 and 2025. The market registered a year-over-year growth of 4.53% in 2021 and is expected to accelerate at a CAGR of 5% during the forecast period. The report provides detailed insights on the opportunities and challenges impacting the future growth of the market.

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Vendors are adopting various strategies to compete in the market

The toys market in Europe is fragmented due to the presence of various regional and international players. Vendors are mainly focusing on introducing new products to meet the growing demands of customers. In addition, vendors are commencing and initiating mergers and acquisitions as part of their growth strategy to expand their presence in the market. For instance, In June 2021, TOMY Co. Ltd. partnered with Niantic for real-world AR mobile games.

The UK to generate maximum growth in the market over the forecast period

The market will witness significant growth in the UK throughout the forecast period. The increasing purchase of toys through online platforms is the major factor driving the growth of the toys market in the UK. Construction toys, outdoor and sports toys, board games, and puzzles are some of the high-selling toys in the country. Besides, the demand for premium strategy-based toys is gaining traction, which is contributing to the growth of the regional market.

Activity toys and accessories segment to generate maximum revenue

The market is observing high demand for construction toys, activity toys, action figures, and accessories among consumers. The high demand for these toys can be attributed to their lower replacement cycles coupled with growing disposable incomes and the rising household final consumption expenditure. Besides, the demand for products such as frisbees and hula hoops is increasing in activities such as recreation, sports, fitness, and juggling. All these factors are driving significant growth opportunities in the activity toys and accessories segment.

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