Educational Toys Market Size to Reach Revenues USD 31.62 Billion by 2026 - Arizton

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Jul 08, 2021, 10:00 ET

CHICAGO, July 8, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global educational toys market report.

The educational toys market is expected to grow at a CAGR of over 8.11% during the period 2020−2026.

Key Highlights Offered in the Report:

The market is expected to witness the highest demand from North America and APAC region.
The recent trend towards augmented reality (AR) educational toys, sustainable, and STEM toys is likely to boost the demand for educational toys year-on-year.
Academic educational toy type holds the highest share in the market followed by cognitive thinking and motor skills toy type. However, cognitive thinking educational toy type is expected to witness the highest growth rate with a CAGR of 9.23% owing to the increasing focus on enhancing the logical and thinking skills of children.
3-8 years of age group is leading the global educational toy market and is expected to grow at a CAGR of 8.35%.
The market is highly fragmented with various vendors that operate and sell educational toys across the world. There is intense competition among vendors for market share. As a result, a lot of merger & acquisitions are taking place to expand and improve the offerings to survive in the market.
Production operations of most vendors are concentrated in China due to the local availability of raw materials required for the manufacturing of toys and presence of cheap labor in the country. However, the rising labor cost in the country is resulting in several vendors shifting their production to other countries such as Vietnam, Indonesia, and others.
Impulse buying, which is common for children's toys, witnessed a considerable decline due to the shutdown of shopping malls and reduction in footfalls in various retail stores. Thus, safety concerns and lockdown restrictions affected the demand for educational toys in 2020. Also, store sales witnessed a slump of nearly 60%-70% due to the decline in impulse buying
There has been a considerable rise in demand for puzzles and construction sets during 2020 as most families were locked in their homes due to the lockdown restrictions and were able to secure enough leisure time. Also, people were looking for toys that are both fun and challenging to keep the children engrossed during the lockdown

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by educational toy type, educator type, age group, distribution channel, category, and geography
Competitive Landscape – 6 key vendors and 43 other vendors

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Educational Toys Market – Segmentation

The rising awareness in APAC, Latin America, and Arab countries for children's education boosts the demand for educational toys across countries such as South Korea, Brazil, India, South Africa, and others. The development of STEM toys that make learning complex concepts easy and fun is expected to boost the demand for academic toys across countries.
Classroom toys promote learning in a playful manner which prevents children from getting bored. The institutions are increasing the usage of board games and toys to foster regular education. This is expected to boost the demand for classroom games from various schools ranging from kindergarten to secondary schools across the countries.
The children in this age group are required to develop several social and emotional skills. Games such as kitchen sets, doctor sets, ice cream shops, mechanic tools, and others remain popular among children. These encourage physical activity and promote activeness among children. Hence, the demand for such toys is projected to support market growth in the upcoming years.

Educational Toys Market by Educational Toy Type

Academic
Cognitive Thinking
Motor Skills
Others

Educational Toys Market by Educator Type

Stem Activities
Classroom Games
After School
Brain Breaks
Gifted & Talented
Lesson Plans

Educational Toys Market by Age Group

3-8 Years
8-12 Years
12+ Years
0-3 Years

Educational Toys Market by Distribution Channel

Online
Offline

Educational Toys Market by Category

Indoor
Outdoor

Educational Toys Market – Dynamics

Inspirational and aspirational toys are designed to promote interest in a wide range of professions. Such toys can help in widening the children's knowledge base with respect to several professions. The demand for these toys is growing rapidly as parents want their children to gain knowledge about various career options. The demand for musical instruments, such as guitar, piano, and drums, is high among children who aspire to become musicians. The other aspirational toys resulting in the growth of the educational toy industry include doctor kits, kitchen sets, arts and crafts, and other related toys. These toys help children to learn more about that profession, their roles, responsibilities, and experience the same during childhood while playing with them. Moreover, these toys also help children boosting their creativity and widening imagination.

Key Drivers and Trends fueling Market Growth:

Tapping Omnichannel Opportunities
Need for Motor Skill and Cognitive Development
Rise in Demand for Sustainable Toys
Growing Demand for STEM Toys

Educational Toys Market – Geography

In 2020, North America emerged as the most dominant geographical segment in the global educational toys market and accounted for a revenue share of 31.56%. Factors such as high disposable income, high literacy rate, and strong awareness of child development and early learning have accelerated the demand for educational toys in the region. Additionally, deep penetration of supermarkets and hypermarkets and significantly high access to the Internet and online shopping channels has also propelled the market growth in the region. The US and Canada are the major countries driving the demand for educational toys in North America and will continue to grow at a CAGR of 5.72% during the forecast period.

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Educational Toys Market by Geography

North America

US
Canada

APAC

China
India
Australia
Japan
South Korea

Europe

UK
Germany
France
Spain
Italy

Latin America

Mexico
Brazil
Rest of Latin America

Middle East & Africa

Saudi Arabia
UAE
South Africa
Turkey

Major Vendors

Bandai Namco
Hasbro
LEGO
Mattel
Melissa & Doug
Spin Master

Other Prominent Vendors

Basic Fun
C'Mon
Digital Dream Labs
Disney
Engino.Net
Fremont Die
Funskool
Goliath
INI
International Playthings
Johnco
K'Nex
Leapfrog Enterprises
Learning Resources
Looney Labs
Ludo Fact
Mindware
Orchard Toys
OWI
Paul Lamond Games
Pegasus & Spiele
Piatnik
Playmobil
Pressman Toys
Ravensburger
RoosterFin
Schmidt Spiele
Simbatoys
Smartivity
SmartLab
Sphero
Talicor
Thames & Kosmos
The Haywire
The OP
Thinkfun
Tomy Company
Top-Toy
University Games
Vtech Electronics
Winning Moves Games
WowWee Group Limited
WizKids

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SOURCE Arizton Advisory & Intelligence