India Toys Market to Grow with a CAGR of 15.3% through 2030

The India’s toys market is undergoing a transformation due to economic, cultural, and technological factors. The growing middle class and dual-income households in India have led to increased spending on children's products and driving the market growth.

According to TechSci Research report, “India Toys Market – By Region, Competition Forecast & Opportunities, 2030F”, India Toys Market was valued at USD 823.46 Million in 2024 and is expected to reach USD 1934.72 Million by 2030 with a CAGR of 15.3% during the forecast period. The Indian toys market has witnessed substantial growth over the past few years, driven by several factors including increased disposable income, changing consumer preferences, and a growing emphasis on child development. With a population exceeding 1.4 billion, India presents a vast and diverse market, where the demand for toys is driven by a large, young population and rising urbanization.

A key feature of the Indian toy market is its segmentation into organized and unorganized sectors. The organized sector, dominated by established brands like Funskool, is witnessing rapid expansion, particularly in urban areas. Meanwhile, the unorganized sector, comprising small-scale manufacturers and local vendors, continues to play a significant role, especially in rural and semi-urban regions. The market is also segmented by product type, with categories such as electronic toys, puzzles, dolls, educational toys, and traditional toys enjoying significant demand.

In recent years, there has been a notable shift towards educational and developmental toys, driven by increasing parental awareness of the importance of cognitive development in early childhood. This trend is further supported by the growing number of dual-income households, where parents are willing to spend more on quality toys that promote learning and creativity. The government’s “Vocal for Local” campaign has also provided a significant boost to the domestic toy industry. This initiative aims to reduce dependence on imports, which account for a significant share of the market, particularly from China. As a result, there has been a push towards increasing the production of indigenous toys, supported by various policy measures and incentives for local manufacturers.

The Indian toys market also faces challenges, including competition from digital entertainment, safety concerns, and pricing pressures. Despite these challenges, the market is poised for robust growth, driven by a combination of favorable demographics, rising consumer spending, and supportive government policies.

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The India toys market is segmented into toy type, gender, distribution channel, region, and company.

The India toys market is segmented based on distribution channel into specialty stores, supermarkets and hypermarkets, online and others, with the online segment emerging as the fastest-growing channel. This growth can be attributed to a combination of factors that have transformed how consumers purchase toys in India.  One of the primary drivers of the online segment's growth in the Indian toy market is the widespread increase in internet penetration and smartphone adoption across the country. With more than half of the population now having access to the internet, online shopping has become increasingly accessible, even in smaller towns and rural areas. The proliferation of affordable smartphones has further accelerated this trend, enabling consumers to browse and purchase toys online from the comfort of their homes. The ability to browse a vast selection of toys across different categories and price ranges, without the need to physically visit multiple stores, is a major time-saver for consumers. This convenience factor is particularly appealing to working parents and those living in smaller towns, where access to specialty toy stores may be limited.

Another critical factor contributing to the rapid growth of the online segment is the competitive pricing and frequent discounts offered by e-commerce platforms. Online retailers often provide attractive deals, seasonal sales, and discounts, making toys more affordable for a broad range of consumers. Price comparison tools available online also enable consumers to find the best deals, further enhancing the appeal of online shopping. Personalization extends to marketing strategies as well, with targeted advertisements and email campaigns that showcase products aligned with a consumer's interests. This level of personalization is difficult to achieve in traditional retail settings, giving online platforms an edge in attracting and retaining customers.

The D2C model also allows for greater control over brand messaging, customer engagement, and product offerings. As a result, these brands can quickly adapt to market trends and consumer feedback, offering innovative and customizable toy options that appeal to a digitally-savvy audience.

The COVID-19 pandemic has had a profound impact on consumer behavior, accelerating the shift towards online shopping in many sectors, including toys. During the lockdowns and periods of restricted movement, online shopping became the primary channel for purchasing goods, including toys. Parents turned to online platforms to buy toys that could keep their children engaged and entertained during extended periods at home. East India, encompassing states like West Bengal, Odisha, and Assam, is a growing market for toys. The region has a strong tradition of handicrafts, and traditional toys made from locally sourced materials are popular. However, the demand for modern toys, such as electronic games and puzzles, is also increasing, particularly in urban centers like Kolkata.

Major companies operating in India toys market are:

• All Things Baby India Private Limited
• Aditi Toys Pvt Ltd.
• Plastech International Pvt. Ltd.
• Funcorp Business Private Limited
•  Ariro Private Limited
• Varnam Craft Collective Private Limited
• WinMagic Toys Pvt. Ltd.
• Sunlord Apparels Manufacturing Company Private Limited
• Funskool (India) ltd.
• Stone Sapphire India Pvt. Ltd. 

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“The Indian toys market is in a state of flux, driven by rising disposable incomes, urbanization, and increased consumer awareness. However, challenges such as competition from the unorganized sector, safety concerns, and the impact of digitalization need to be addressed for the market to reach its full potential. The expansion of organized retail, both online and offline, has made it easier for consumers to access a wide range of toys. E-commerce platforms like Amazon, Flipkart, and FirstCry have played a crucial role in this regard, offering a vast selection of toys from both domestic and international brands. The convenience of online shopping, coupled with attractive discounts and promotions, has led to a surge in online toy sales. Organized retail is also expanding in physical stores, particularly in metro cities, where toy sections in supermarkets and dedicated toy stores are becoming more common“. Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

India Toys Market By Toy Type (Plush Toys, Electronic Toys, Games and Puzzles, Construction and Building Toys, Dolls, Ride-Ons, Sports and Outdoor Play Toys, Infant/Pre-school Toys, Activity Toys, Others), By Gender (Unisex, Boys, Girls), By Distribution Channel (Specialty Stores, Supermarkets and Hypermarkets, Online, Others), By Region, Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of India toys market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India toys market.

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