United States Toys Market Analysis Report 2023: Market to Grow by Over $15 Billion to 2030 - From Star Wars to Barbie, The Everlasting Appeal of Licensed Toys

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Feb 16, 2024, 17:15 ET

DUBLIN, Feb. 16, 2024 /PRNewswire/ -- The "United States Toys Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

United States Toys Market is expected to grow to approximately US$ 46.19 Billion by 2030 from US$ 30.61 Billion in 2023, growing at a CAGR of 6.05%

The transformation of toys in the United States mirrors adjustments in society, technology, and culture. Originating from handmade wood toys, they've advanced into technology-driven marvels and educational STEM kits inspired by famous media and environmental focus. Toys keep evolving, staying in sync with the evolving alternatives of American customers.

The toys market within the United States has witnessed significant growth because of the converting purchaser preferences, which now prefer academic and interactive toys. Parents and guardians are steadily looking for toys that no longer only provide enjoyment but additionally make contributions to learning and talent improvement.

This shift has caused the developing popularity of STEM (Science, Technology, Engineering, and Mathematics) toys, which help kids accumulate crucial skills in an interesting and fun manner. Furthermore, there has been amazing growth in the demand of toys that aid social and emotional improvement as parents increasingly understand the importance of instilling traits, including empathy, effective communication, and resilience in their younger ones.

Furthermore, the toy market's sizeable growth is extensively pushed by licensed toys closely related to famous media. A latest NPD Group study mentioned a big increase, with licensed toys comprising 20% of US toy income in 2023, compared to 10% a decade before, often resonating with children aged 6 to 12. Their attraction is anchored in emotional ties to beloved characters, mighty marketing, and a dedication to high quality.

This trend is poised to endure because of the long-lasting impact of media and sustained investments by toy organizations. Prominent examples of licensed toys companies encompass Star Wars, Disney Princess, Marvel superheroes, Pokemon, Minecraft, Harry Potter, Barbie, Hot Wheels, and LEGO, all of which uphold their attraction by individual engagement, marketing prowess, and quality practices.

Likewise, the non-stop inflow of modern products in the U.S. toy market benefits each client and the enterprise. This innovation gives customers a much wider array of choices, allowing them to find toys that align with their kid's pursuits and developmental wishes. Simultaneously, it injects freshness and pleasure into the U.S. toy market, ensuring its power.

Notably, growing smart toys that could connect to the internet and engage with children on more customized stage exemplifies this innovation. Examples embody interactive storybooks and educational video games. Subscription toys, delivered frequently to kids, are another side of this evolution, encompassing offerings like toy packing containers and artwork supply kits. The U.S. Toy market is poised for persisted growth and transformation, with new and inventive toys usually coming onto the scene. The online toy market is predicted to make bigger, and social media will stay instrumental in promoting new products, generating interest, and riding earnings within the market.

The e-commerce growth has also transformed the toy market in USA, offering comfort, variety, and competitive pricing. Traditional toy shops have adapted via increasing their online presence. Social media has come to be a powerful advertising and marketing tools, with enthusiasts and influencers driving sales.

This synergy of e-trade and social media has reshaped toy buying and marketing, spurring boom. Meanwhile, a robust U.S. Financial system and extended disposable income have fueled uniqueness of specialty toy shop fulfillment, presenting curated choices and customized reviews. Ongoing market player innovation, providing high-tech and ecofriendly toys, sustains market vibrancy, making persistent increase.

Games and puzzles are experiencing tremendous growth in the United States toys market.

Games and puzzles are experiencing massive growth within the United States toys market because of prolonged reputation of their educational and developmental advantages. Parents apprehend their ability to enhance cognitive, social-emotional, and outstanding motor abilities in kids, promoting problem-solving, critical thinking, and teamwork competencies.

These activities have moreover gained popularity among adults as a source of rest and stress treatment, fostering mindfulness and a sense of achievement. Constant market innovation with product like 3-D puzzles, escape room puzzles, and digital variations keeps the market fresh and interesting. The improving US financial system and growing disposable income further enhance spending on toys and video games. Traits like social media and expanded e-commerce platforms expend their reach and accessibility, making games and puzzle a thriving marketplace segment.

The United States toy market is dominated by specialty sales channels, which place a strong emphasis on target markets within the toy sector.

Specialty sales channels, with a keen cognizance of niche markets in the toy market, dominate the United States toy market. They excel by curating specialized selections, presenting personalized shopping products with expert guidance, and proposing particular, different merchandise from impartial toymakers. Competitive pricing, stemming from decreased overheads and dealer negotiations, enhances their allure.

Convenient locations in high-visitor regions ensure ease for parents, and the surge in demand for educational toys, besides the convenience of online purchasing, further solidifies their position. These channels adapt to evolving tendencies, retaining their stronghold in the market while meeting the various wishes of toy enthusiasts and households.

Company Analysis: Overview, Recent Developments, Revenue

Mattel Inc.
Hasbro Inc.
Lego
Spin Mater Corp.
Vtech
Manhattan Associates
Funko
JAKKS Pacific

Toys Segmentation - United States Toy Market breakup from 11 viewpoints:

Action Figures and accessories
Arts and crafts
Building Sets
Dolls
Explorative and other Toys
Games/Puzzles
Infant/Toddler/Preschool Toys
Outdoor and Sports Toys
Plush
Vehicles
Youth Electronics

Sales Channel - United States Toys Market breakup from 5 viewpoints:

E-commerce
Specialty
Discounters
Department Stores
Others

For more information about this report visit https://www.researchandmarkets.com/r/ryblc6

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