The Global Learning and Educational Toys Market size is expected to reach $64.5 billion by 2027, rising at a market growth of 4.3% CAGR during the forecast period.
A category of toys that are used to promote mental growth and development of children is known as learning and educational toys. The high popularity of games among children as well as adults is paving the way for the growth of market. In the last few years, the demand for games in bars and cafes has increased to attract more customers to these facilities. Along with that, this increased adoption of games in cafes is motivating people of all ages to learn the latest games to improve their skills, which would propel the growth of the learning & educational tools market.
The increasing pace of digitalization across the world and the rising inclination of the consumers towards shopping through online platforms would open lucrative opportunities for the key market players to sell their new and prevailing product line via online shopping platforms. This would further accelerate the growth of the learning & educational tools market as online platform increases the reach of these products. In addition, increasing awareness about the learning & educational toys would also expand their customer base and fuel their sales. This would lead to the surging growth of the learning & educational toys market around the world.
COVID-19 Impact Analysis
There is a negative impact of the COVID-19 pandemic on the learning & educational toys market. The imposition of stringent regulation due to the pandemic like complete or partial lockdown compelled manufacturers to reduce their production. Along with that, disruption in the supply chain of various non-essential commodities has negatively impacted the growth of the learning & educational toys market. Though, the learning & educational toys market is swiftly getting back on its recovery path, which is likely to surge the demand for learning & educational toys across different sectors.
During the initial phase of the COVID-19 pandemic, the online retail segment surged the sales of toys and games. The high penetration of the internet and the fast pace of digitalization across the globe have created more demand for these toys through online platforms.
Marketing Growth Factors:
These toys improve problem-solving skills & develop different skills among children
The development of specific skills is directly linked to the numerous types of learning & educational toys. Many toddlers develop a sense of sight, hearing, and touch by playing with these learning & educational toys. For instance, the sense of sight can be enhanced by using bright toys with various colors. Similarly, toys producing different sounds may help in enhancing the sense of hearing. Consequently, kids are able to develop their personalities and improve their communication skills while playing with these toys.
The growing popularity of gaming and toys among children and adults
There has been an increase in the popularity of various games and toys among adults and children as they entertain them and develop various skills in them. Several restaurants, cafes, and other hospitality facilities are increasingly adopting various toys and games to attract children as well as adults people towards them, which is majorly contributing to the growth of the learning & educational toys market. To reduce obesity and other health problems among kids, parents are highly spending on buying outdoor and sports games that can motivate their children to become more active.
Marketing Restraining Factor:
Over usage of these toys can hamper the concentration level of children
Children prefer to spend their leisure time playing games of a different type. Playing with toys and games helps children reduce their stress and boredom. But, spending too much time on games and toys may hamper their studies and decline the concentration level. This can also become a major barrier between kids and their life skills, social interactions, mental health, team spirit, and creativity. In addition, kids nowadays like to play online games on electronic gadgets & devices, and spending more time on them can affect their eyesight.
Age Group Outlook
Based on age group, the learning & educational toys market is classified into up to 5 years, 5 to 10 years, and above 10 years. The 5 to 10 years segment garnered the maximum share of the market in 2020. It is due to the growing adoption of learning and educational toys within this age group.
Distribution Channel Outlook
On the basis of distribution channel, the learning & educational toys market is fragmented into specialty stores, hypermarkets/supermarkets, online channels, departmental stores, and others. The specialty stores segment dominated the market with the highest market share in 2020. This growth is attributed to the huge discounts provided by stores to consumers that would support the growth of the overall market.
Product Type Outlook
On the basis of product type, the learning & educational toys market is segmented into building sets, games and puzzles, sports & outdoor toys, and others. Among these, the sports & outdoor toys segment acquired the largest share of the market in 2020. It is owing to the growing popularity of sports toys among children and adults.
By region, the learning & educational toys market is evaluated across North America, Europe, Asia Pacific, and LAMEA. Among all, the Asia Pacific emerged as the prominent region in the learning & educational toys market in 2020 and is estimated to display the fastest growth rate over the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include VTech Holdings Limited, LEGO Group (KIRKBI A/S), Hasbro, Inc., Tomy Company, Ltd., Goliath Games, Atlas Games, Clementoni Spa, Ravensburger AG, and Thames & Kosmos, LLC (Franckh-Kosmos Verlags-GmbH & Co.)
Recent Strategies Deployed in Learning & Educational Toys Market
Partnerships, Collaborations, and Agreements:
Aug-2021: Hasbro extended its partnership with PlayMonster through its subsidiary Playskool. Together, the companies aimed to expand and widen the iconic Playskool brand, while bringing new ways to learn and play under the Playskool portfolio and also reimagining Playskool’s most famous, nostalgic brands to engage millennial parents and a new generation of kids.
Apr-2021: Hasbro came into a partnership with Roblox Corporation, an American video game developer. This partnership aimed to launch a variety of Roblox-inspired NERF blasters representing some of the most popular experiences on the Roblox platform.
Mar-2021: Ravensburger collaborated with Kenco Logistics, a leading third-party logistics (3PL) provider. Under this collaboration, Ravensburger selected Kenco Logistics to offer supply chain services supporting their North American business.
Feb-2021: The LEGO Group formed a partnership with DQ Institute, a world-leading think tank on digital citizenship and online child safety. This partnership aimed to assist children to make the skills they require to thrive in the digital world.
May-2020: The LEGO Group joined hands with NITI Aayog and the NGO ‘Save The Children’. This collaboration aimed to support kids impacted by Covid-19 in India. Under this collaboration, the company released targeted initiatives in the country to promote ‘Learning Through Play’, which would help the company to focus on ensuring that children of all ages become more creative, have fun, and develop the social, emotional, and physical skills they require to thrive in the future.
Jan-2020: The LEGO Foundation entered into a partnership with the Aga Khan Foundation, BRAC, Right To Play, UNICEF, VVOB - education for development, and RTI International. These partnerships aimed to develop an environment, which supports and sustains the usage of play-based pedagogies in getting enhanced learning for millions of primary school learners.
Acquisitions and Mergers:
Oct-2021: Goliath completed the acquisition of Endless Games, provider of card games, dice games, party games, and word games. This acquisition would help Goliath to add an ‘endless’ catalogue of great games and puzzles to its portfolio.
Jun-2021: Goliath took over Fun Promotion from Toi-Toys International. This acquisition aimed to introduce a variety of new products within the Fun Promotion portfolio and would further support its excellent in-store marketing strategy and relations with retailers and distributors.
Oct-2020: TOMY International acquired Fat Brain Toys, a privately held developer, marketer, and seller of children’s toys, games, and gifts. This acquisition aimed to develop wonderful toys and games that would complement the TOMY mission to “Make the World Smile".
Product Launches and Product Expansions:
Jul-2021: LeapFrog Enterprises, a subsidiary of Vtech holdings introduced its latest collection of learning toys. This range introduces curriculum-based content and important foundational skills at an early age. The toys included in this collection are LeapStart Learning Success Bundle, LeapLand Adventures, Count-Along Basket & Scanner, On-the-Go Story Pal, and LeapReader Learn-to-Read 10-Book Mega Pack.
Mar-2021: Hasbro introduced a Hindi variant of its popular card game, Monopoly Deal. This expansion of the company’s portfolio would be a landmark initiative in India and would also expand the company’s presence in the country.
Aug-2020: The LEGO Foundation and the LEGO Group introduced LEGO Braille Bricks in seven countries that include Denmark, Brazil, France, Norway, Germany, the UK, and the USA. This game introduces a fun and engaging way to assist children with vision impairment develop tactile skills & learning the braille system.
Mar-2020: Hasbro unveiled Bring Home the Fun, a global initiative. This initiative is developed to support the company’s objective to make the world a better place for children and their families. In addition, this initiative offers parents and caregivers resources to help keep kids occupied and engaged during the extended time at home and indoors.
Feb-2020: Ravensburger expanded its geographical footprints in Canada by launching Ravensburger Canada. This expansion would expand the company’s robust and surging market for puzzles, toys, and games in Canada.
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