Asia Pacific (APAC) Toys & Games Market (2020-2026) | Share, Size, Trends, competitors, Growth, Revenue, Forecast, Analysis, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Asia Pacific Toys & Games Market

Asia Pacific Toys & Games Market has been experiencing significant growth in recent years by rising disposable income, surging demand for interactive toys, and a growing preference for licensed products. The COVID-19 pandemic augmented the shift to e-commerce in the region as more consumers are opting to purchase toys and games online rather than buying from offline stores. The Asia Pacific Toys & Games Market has seen an increased focus on sustainability, with many companies adopting eco-friendly practices and materials in their products to reduce their carbon footprints. The video games segment of the Asia Pacific Toys & Games Industry has been growing rapidly by the increasing popularity of esports, the rising trend of mobile gaming, and the launch of new gaming consoles.

Moreover, the Geopolitical tensions between the United States and China have had an impact on the Asia Pacific Toys & Games Market as many companies are shifting their production out of China to other countries in the region. Apart from this, the Asia Pacific Toys & Games Market has been experiencing growth. The growth is attributed to rising disposable income, increasing demand for interactive toys, and growing preference for licensed products. The market is also witnessing a shift towards e-commerce and the rising popularity of video games among individuals. 

Asia Pacific Toys & Games Market Synopsis

Asia Pacific Toys & Games market report is a part of the Global Toys & Games Market report thoroughly covers the market by Product Type, Distribution Channel, and countries including China, India, Japan, Thailand, Malaysia, Australia, and the rest of Asia Pacific. Asia Pacific Toys & Games market outlook provides an unbiased & detailed analysis of the ongoing Asia Pacific Toys & Games market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Asia Pacific Toys & Games market is expected to register growth in the coming year due to the rise in consumer spending there is an increasing demand for toys, such as action figurines, puzzles, plush toys, preschool products, and sports equipment. The sales of Toys & Games based on cartoon characters, Television shows, and movie shows are increasing, which is further anticipated to promote the growth of the product market. Toys & Games are acting as playthings which vary from rattles, toy cars, dolls, and toy cars to skipping ropes, jigsaw puzzles, and board games. They come with an intrinsic value that adds to the overall development of a child. Toys assist children to reveal their emotions and increase their creativity.

According to 6Wresearch, the Asia Pacific (APAC) Toys & Games Market size is anticipated to register growth during 2020-2026. Toys & Games Product is used for the entertainment as well as the amusement of children. Activity toys such as dolls, building sets, jigsaw puzzles, and puzzles, along with cards games help children enhance their mental agility and develop coordination and manual skills. Asia Pacific holds the largest market in the world for Toys & Games market. The major factor expected to drive the prosperity of the Asia Pacific Toys & Games market is the rising preference for educational toys other than core skills. Asia Pacific countries like China and Taiwan are the leading exporters of Toys & Games worldwide. Furthermore, major manufacturers are located in Thailand and Japan, wherein cheap and easy-to-use products are made and exported to different countries. These toys have been witnessing high demand. For instance, among the pre-school toys, Fisher-price and CADE-A pillar, a developmental toy, which was launched in 2016 in China, allows children to do domestic computer programming and problems. China and India are the two prominent economies in the world, owing to which many vendors are entering this market. Furthermore, the demand for Toys & Games is expected to increase over the forecast period due to the increasing number of retail outlets, coupled with growing middle-class groups. In China, preschool toys are gaining popularity due to the increasing sales of math, art-based gadgets, science, and technology interests among parents as well as children.

Many children like to play video games during their leisure time. Technological innovations such as AR/VR headsets have led to an increase in the adoption of video games by children. The launch of educational gaming has encouraged adults and parents, thereby having a positive impact on market growth. Sony has launched a pre-station classic which comes with a preloaded version of the original Play station which has increased the growth of the Video games market. The growing usage of smartphones that contain video games has fueled market growth in the upcoming years. According to the survey, in 2018, PUBG had become one of the largest video gaming apps that had produced the highest revenue all over the globe. The increasing usage of tablets and laptops has also increased the growth of the market.

Market Analysis By Country

On the basis of country, China dominated the overall Asia pacific toys and games market owing to the availability of affordable toys.

Market Analysis By Product Type 

On the basis of product type, the outdoor/sports segment is expected to dominate the overall market owing to increasing awareness regarding health and fitness. Moreover, surging participation in sports is also accelerating the APAC Toys & Games Market Share. 

COVID-19 Impact on Asia Pacific Toys & Games Market

The outburst of the coronavirus pandemic has declined the growth of almost every industry. However, the APAC Toys & Games Market gained a major spike during the past year due to COVID-19 as the children tend to spend more time at home owing to the shutting down of schools. Increasing penetration towards buying games and puzzles to keep themselves occupied is driving the growth of the industry. Restrictions imposed by the government led to the shutting down of industries and retail units which further led to disruption in the supply chain of toys and games in Asia Pacific. 

Key Players in the Market

Some of the key players in the Asia Pacific Toys & Games Market are:

• Microsoft Corporation
• Sony Corporation
• Dream International Limited
• Nintendo Co., Ltd.
• Mattel, Inc.
• JAKKS Pacific, Inc. 
• Playmates Toys Limited

Key Highlights of the Report:

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.