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Toy Market Research Study

The Indian toy market is large and growing, though it still accounts for less than 1% of the global market currently. Several factors are contributing to rising demand in India, including a growing middle class, increasing disposable incomes, and government initiatives to promote learning. While the global toy market declined in 2020 due to the pandemic, the Indian toy market is forecast to grow substantially over the coming years. Major players in India include Funskool, Lego, and Mattel, though most of the market remains fragmented among small manufacturers. The government is also establishing new toy manufacturing clusters to boost the domestic industry.

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270 views7 pages

Toy Market Research Study

The Indian toy market is large and growing, though it still accounts for less than 1% of the global market currently. Several factors are contributing to rising demand in India, including a growing middle class, increasing disposable incomes, and government initiatives to promote learning. While the global toy market declined in 2020 due to the pandemic, the Indian toy market is forecast to grow substantially over the coming years. Major players in India include Funskool, Lego, and Mattel, though most of the market remains fragmented among small manufacturers. The government is also establishing new toy manufacturing clusters to boost the domestic industry.

Uploaded by

Atul Kumar
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Toy Market Research Study

Indian Market

 India is the 2nd largest populated country in the World.


 20% in the age group of 1 to 12 years.
 Increasing purchasing power of people.
 Good Consumer market.Growing middle class.
 Educated & English-speaking people.
 Government of India giving impetus to learning through various projects & schemes.

Global Scenario

According to a Barnes report, the global toy manufacturing market is has declined from US$ 102.6
billion in 2019 to US$ 101.6 billion in 2020 at -0.91%.

The market is then expected to recover and increase at a CAGR of 8.12% from 2020 to reach US$
128.4 billion in 2023. According to the latest available date, India’s share in the global toy market is
less than 1% and is worth Rs. 5,000-6,000 crore (US$ 678.30-813.96 million). A report by the IMARC,
a market research company, stated that the Indian toy sector will cross the US$ 3.3-billion mark by
2024 at a CAGR of 13.3% between 2019 and 2024.

The Indian toys market reached a value of US$ 1.23 Billion in 2020.  IMARC Group
expects the Indian toys market to grow at a CAGR of 12.2% during 2021-2026.

The diverse product category ranges from traditional plush toys, construction and
building toys, dolls, board games and puzzles to high-end electronic toys, educational
toys, ride-ons, etc. - https://www.imarcgroup.com/indian-toys-market

According to the latest available date, India’s share in the global toy market is less than 1%
and is worth Rs. 5,000-6,000 crore (US$ 678.30-813.96 million). A report by the IMARC, a
market research company, stated that the Indian toy sector will cross the US$ 3.3-billion
mark by 2024 at a CAGR of 13.3% between 2019 and 2024

Categorization

1. Major Category- Plush Toys (Soft toys, Stuffed toys)


2. Electronic toys, games and puzzles, construction and building toys, dolls, ride-
ons, sports and outdoor play toys, infant/pre-school toys and activity toys.
3. TREND- STEM (Science, Technology, Engineering, Mathematics)- According to
the Toy Association report in 2018, 67% parents believe in STEM-focussed toys as their
primary way to encourage science and math development in young children.

Basis of Gender

- Unisex Toys>Girls Toys>Boys Toys


Distribution Channel

- Specialty Stores>Super Stores> Hypermarket

Regional

- Maharashtra>>Tamilnadu> Karnataka> Gujarat> Delhi

INDIAN TOY MANUFACTURERS:


India has over 800 toys and game manufacturers producing toys locally.

 Brainsmith
 Buddyz
 Clever cubes
 Shinsei
 Funcorp.in
 The Story merchants
 Varnam Craft Collection
 Win Magic Toys
 Sunlord
 The Maison Company India
 Afterskool Toys
 Zephyr Toymakers
 Aditi Toys
 Explore
 Peacock toys
 Buddyz
 Sunny Toyz
 Ekoplay
 Skoodle
The top 10 players, also with an international presence are as follows:
1. Funskool- Powered by MRF Group. 3 manufacturing sites (Goa, Ranipet(Tamilnadu)).
2. Lego-
3. Mattel- Barbie dolls and Hot Wheel racer cars are sold under Mattel.
4. Hasbro- The largest publicly traded toymaker worldwide.
5. MEGA Bloks
6. K’nex
7. Chicco
8. Masoom Playmates
9. Simba Toys
10. Fisher- Price
11. Hot Wheels

Infrastructural Presence

The toy manufacturers in India are mostly located in NCR, Maharashtra, Karnataka, Tamil
Nadu and clusters across central Indian states. The sector is fragmented with 90% of the
market being unorganized and 4,000 toy industry units from MSME sector. 

Some trends contributing to growing demand:


1. There will be a 2.5x increase in income per capita from 2016 to 2027
2. There will be a 1.2x increase in the proportion of affluent and elite consumers in
Tier 2 & Tier 3 cities by 2025
3. 80% of the population will belong to Gen ‘I’ by 2027
The government has approved eight toy manufacturing clusters for Rs 2,300 crore to boost India’s traditional toys
industry.

These clusters will manufacture toys made of wood, lac, palm leaves, bamboo, and fabric.

The Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Micro, Small and
Medium Enterprises (MSME) are looking to develop toy clusters

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