NEW YORK, Dec. 10, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The toys market in europe size is estimated to grow by USD 9.27 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.39% during the forecast period. Expanding product portfolio influencing product premiumization is driving market growth, with a trend towards increasing number of strategic alliances. However, availability of low-quality counterfeit products poses a challenge. Key market players include 4M Industrial Development Ltd., Clementoni Spa, Evertoys, First Celtic Toys and Learning Ltd., Goliath Games, HABA Group B.V. And Co.KG, Hamleys of London Ltd., Hasbro Inc., JWS Europe Ltd., Kids2 Inc., Learning Resources Ltd., LEGO System AS, Mattel Inc., MGA Entertainment Inc., Ravensburger AG, Simba Dickie Group GmbH, Takara Tomy Co. Ltd., The Toy Co., Theo Klein GmbH, and VTech Holdings Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

The European toys market is thriving, with a focus on providing children with toys that foster play, creativity, and social interaction. Action figures, dolls, puzzles, board games, building blocks, and electronic devices are popular choices, developing motor skills, hand-eye coordination, and problem-solving abilities. Educational toys, including letters, numbers, shapes, and STEM toys, are essential for cognitive skills and technological literacy. Traditional toys and technology-driven toys coexist, with movies, TV shows, and video games influencing toy trends. Parents seek quality toys that promote skill development, critical thinking, and social skills. E-commerce platforms cater to a global audience, offering eco-friendly practices, recycled materials, and interactive features. Urbanization and living spaces influence the shift towards indoor toys, while outdoor play areas remain essential for physical development and a healthy lifestyle. 

The European toys market is highly competitive with numerous vendors offering distinctive products. Crowdfunding platforms like Kickstarter facilitate active funding for toy development by partnering with manufacturers and distributors. Vendors are forming strategic partnerships to expand their businesses through new product offerings and distribution channels. In February 2021, Hasbro, Inc. Announced a collaboration with Epic Games, introducing the first-ever Hasbro character integration with Fortnite as a special Snake Eyes Outfit. These initiatives enable vendors to gain a competitive edge and sustain their market positions. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

• The European toys market is a vibrant industry that caters to children's play and entertainment needs. With a focus on creativity, social interaction, and skill development, this market includes various types of toys such as action figures, dolls, puzzles, board games, building blocks, electronic devices, and more. Parents seek quality toys that enhance motor skills, hand-eye coordination, problem-solving abilities, and cognitive development. Traditional toys and technology-driven toys coexist, with educational components and media franchises playing a significant role. Societal values and cultural significance are reflected in toys, promoting social skills like sharing, cooperation, and negotiation. Interactive features, digital interfaces, and augmented reality add to the enriching experiences. E-commerce platforms cater to a global audience, offering eco-friendly practices and recycled materials to reduce packaging waste. The market continues to evolve, responding to urbanization, living spaces, and the need for physical activity and healthy lifestyles.
• Counterfeit toys in Europe pose a significant challenge to the legitimate toys market. These products, made from substandard raw materials, can be hazardous to children. The rise of e-commerce has expanded the distribution network for counterfeit toys, making it difficult for consumers to distinguish authentic from imitation products. This market fragmentation leads to decreased price standardization, eroding brand equity for major vendors, and an uneven competitive landscape. The affordability of counterfeit toys increases demand, negatively impacting sales and pricing strategies for genuine products.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This toys market in Europe report extensively covers market segmentation by

1. Product
• 1.1 Activity toys and accessories
• 1.2 Soft toys and accessories
• 1.3 Outdoor and vehicle toys
• 1.4 Games and puzzles
• 1.5 Infant and preschool toys and Others
2. Distribution Channel
• 2.1 Specialty stores
• 2.2 E-retailers
• 2.3 Hypermarkets
• 2.4 Department stores
3. Geography
• 3.1 Europe

1.1 Activity toys and accessories- The European toys market encompasses construction toys, activity toys, action figures, and accessories. Construction toys consist of building blocks, construction vehicles, sets, and worker models, primarily made of plastic, metal, or wood. These items have a low replacement cycle due to their usage. Activity toys include frisbees, hula hoops, and other outdoor recreational items. Children aged two and above often engage with these toys. The demand for outdoor and sports toys is projected to rise due to health concerns and increasing birth rates. Brands like Melissa & Doug, LEGO System AS, and TOMY Co. Ltd. Dominate the activity toys sector. Macroeconomic factors, such as expanding middle-class population, increasing disposable income, decreasing child mortality, and rising birth rate, fuel the toys market growth. The expanding target market for the activity toys and accessories segment offers opportunities for vendors. Additionally, increasing disposable income and household final consumption expenditure enhance consumers' purchasing power, enabling them to buy premium and branded construction toys, thereby driving the value sales of construction and activity toys. Consequently, the rising demand for activity toys and accessories, including Lego sets and skipping ropes, will boost the growth of the European toys market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The European toys market is a vibrant and diverse industry that caters to the play and entertainment needs of children. It offers a wide range of toys that foster creativity, social interaction, and intellectual growth. From action figures and dolls to puzzles, board games, building blocks, electronic devices, and educational toys, there's something for every child's developmental stage and interest. Toys play a significant role in a child's life, helping them develop essential motor skills, hand-eye coordination, problem-solving abilities, and imaginative play. They also promote emotional and physical growth, as well as social skills such as sharing, cooperation, and empathy. Moreover, toys hold cultural significance and reflect societal values. They can help children learn letters, numbers, and shapes, and provide opportunities for intellectual growth and exploration. With a focus on fun and learning, the European toys market continues to evolve, offering innovative and engaging toys that inspire and delight children.

Market Research Overview

The European toys market is a vibrant and diverse industry that caters to the play and entertainment needs of children. It encompasses a wide range of toys, from traditional building blocks and puzzles to modern electronic devices and STEM toys. The market prioritizes creativity, social interaction, and skill development, offering children opportunities for imaginative play, educational growth, and cognitive development. Toys serve as cultural significance and societal values, promoting social skills such as sharing, cooperation, and negotiation. Interactive features, digital interfaces, and e-commerce platforms expand the reach of toys to a global audience. Parents seek quality toys that foster motor skills, hand-eye coordination, problem-solving abilities, and technological literacy. The market includes action figures, dolls, board games, and puzzles, as well as outdoor toys, eco-friendly practices, and sustainable materials. Urbanization and living spaces influence the market, with a growing emphasis on indoor toys and outdoor play areas. The toys industry continues to evolve, integrating cutting-edge technology, educational components, and media franchises, while prioritizing eco-friendly practices and sustainability.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Activity Toys And Accessories
• Soft Toys And Accessories
• Outdoor And Vehicle Toys
• Games And Puzzles
• Infant And Preschool Toys And Others
• Distribution Channel
• Specialty Stores
• E-retailers
• Hypermarkets
• Department Stores
• Geography
• Europe

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/toys-market-in-europe-to-grow-by-usd-9-27-billion-2024-2028-driven-by-premiumization-and-ai-influenced-market-trends---technavio-302326164.html

SOURCE Technavio