Subject: MRR
Technavio Forecasts Toys Market Size in Europe to Grow by USD 8.75 Billion between 2020 and 2025
NEW YORK, Jan. 19, 2022 /PRNewswire/ -- There has been a constant rise in the demand for product premiumization in toys market which is influenced by the expansion of the product portfolio, as per the latest research report of "Toys Market in Europe - Forecast and Analysis".
If we look back at the historic data, the sales through online shopping platforms accounted for almost 11% of the revenue of the toys market in the UK in 2020.
Key Toy Market in Europe Report Highlights:
- Market growth 2020-2025: USD 8.75 billion
- Growth momentum & CAGR: Accelerate at a CAGR of 5%
- YoY growth (%): 4.53%
- Performing market contribution: Rest of Europe at 41%
- Key consumer countries: UK, Germany, France, Italy and Rest of Europe
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Regional Market Analysis
With 41% of the growth originating from the Rest of Europe, this region will record a fast growth rate during 2021-2025.
The growing e-commerce market is expected to boost the growth of the toy market in the Rest of Europe.
Apart from the growth in the e-commerce market, the two key reasons for the increasing toys market's growth in Europe are:
- The UK market is mainly driven by the adoption of toys as a gifting item and the increase in the number of occasional purchases during Black Friday and Cyber Monday, as well as traditional festivities such as Christmas and Easter.
In addition, increased purchases through online shopping platforms drive the growth of the market in the UK.
- Despite a difficult trading year for many industries, the toys market in the UK remained buoyant and resistant as overall sales increased by 5% in terms of value, with the biggest spike in sales that came during the first lockdown of 2020, maintaining the UK's position as the largest toys market in Europe and fourth-largest globally.
Moreover, toys such as board games constitute a key source of entertainment not only for children but also for customers of all age groups, brick-and-mortar retail stores and toy and board game cafes, such as Draughts (UK), offer people avenues to convene and play.
For Additional Information about the regional market: Request for a free sample report.
Key Vendors and Vendor Strategies
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., VTech Holdings Ltd. are few of the key vendors in the toys market in Europe.
The key players operating in the market mainly focus on introducing new products to cater to the interests of consumers. Vendors such as Hasbro, Mattel, and LEGO are engaged in continuous product innovation and portfolio expansion.
- In addition, the majority of players in Europe are commencing and initiating mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings.
- Moreover, the construction toys segment was the largest of all the other toys market in Europe in 2020. Construction toys include various toys and sets used for constructing different models. They are usually made of plastic, metal, or wood.
- Some major macroeconomic factors that have a prominent impact on the construction toys market in Europe include the expansion of the middle-class population and its growing disposable incomes, the declining child mortality rates, and the increasing birth rates. The growth in the child population (0-14 years) increases the target audience base for construction and activity toys, thereby creating growth opportunities for the vendors in the market.
Download our free sample report to get a brief understanding about various other vendors and the vendors strategies.
Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the toys market in Europe.
- Expanding product portfolio influencing product premiumization:
- The growth of the toys market in Europe is driven by continuous product innovations. The vendors are incorporating new technologies that are interactive and educational.
For instance, the detailed LEGO interpretation of the motorcycle captures the features of the real-life machine, with elements replicating the full-size Harley-Davidson Fat Boy. The model will be equipped with additional features such as solid-disc wheels, a teardrop fuel tank, an integrated speedometer, and dual-exhaust pipes.
Furthermore, branding is the key to attracting and retaining customers in the toys market, as product premiumization is critical as most vendors offer similar products that have relatively similar features. Hence, product differentiation through effective branding initiatives enables the vendors to retain and broaden their customer base and helps the brand strengthen its market position.
To know about a few other market drivers, trends, and challenges.
Download our free sample report
Related Reports:
Educational Toys Market by Product, Age and Geography ? Forecast and Analysis 2021-2025
Toys Market Scope in Europe | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 5% |
Market growth 2021-2025 | $ 8.75 billion |
Market structure | Fragmented |
YoY growth (%) | 4.53 |
Regional analysis | Europe |
Performing market contribution | Rest of Europe at 41% |
Key consumer countries | UK |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | 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. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com/
SOURCE Technavio
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