Toys Market to Grow with Technological Advancement at the CAGR of 4.13% During Forecast Period

United States Toys market is driven by various factors such as technological advancements, changing consumer demographics, and the growth of e-commerce.

According to TechSci Research report, “United States Toys Market – By Region, Competition, Forecast and Opportunities, 2018-2028F”, the United States Toys Market stood at USD 24.34 billion in 2022 and is anticipated to grow with a CAGR of 4.5% in the forecast period, 2024-2028. The United States toys market is a vibrant and dynamic industry that plays a significant role in the lives of children and families across the nation. With a history dating back over a century, this market has evolved and expanded in numerous ways, reflecting changes in society, technology, and consumer preferences.

The history of the toys market in the United States is rich and varied, reflecting the changing times and tastes of society. In the late 19th and early 20th centuries, traditional toys such as dolls, wooden blocks, and trains dominated the market. These toys were often handmade and held great sentimental value. However, with the advent of mass production techniques, the industry saw a shift towards more affordable and widely accessible toys.

One of the most iconic moments in the history of the U.S. toys market occurred in 1959 with the introduction of the Barbie doll by Mattel. This revolutionary toy sparked a new era of consumer culture by creating a strong brand identity and fueling the rise of dolls as a dominant market segment. Additionally, the 1960s witnessed the explosion of action figures, led by G.I. Joe and later the immensely popular Star Wars figures. These toys blurred the line between play and collectibles and helped shape the future of the market.

There is a growing emphasis on environmentally friendly and sustainable toy manufacturing. Consumers are becoming more conscious of the materials used in toys and the impact of production on the environment. The rise of e-commerce, led by platforms like Amazon, has transformed the way toys are marketed and sold. Online retail allows for a broader selection of products and easy access for consumers, but it also presents challenges to physical toy stores. The influence of popular media franchises on toy sales is undeniable. From Disney princesses to superheroes, these franchises drive a significant portion of the market.

Collectible toys have surged in popularity, with brands like Funko Pop! creating a fervent following. These items bridge the gap between toys and collector's items, appealing to adults as well as children. There's a growing demand for toys that reflect diverse cultures, races, and genders. Toy companies are responding by expanding their product lines to be more inclusive. The integration of technology, such as augmented reality and interactive features, continues to enhance the play experience and keep toys relevant in the digital age.

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Product safety is a critical concern, especially with the increasing use of technology in toys. Ensuring that toys are free from harmful materials and designed to prevent accidents is a top priority. The market is highly competitive, with numerous companies vying for consumer attention. Established players and newcomers are constantly innovating to maintain or gain market share. Traditional toy stores have faced challenges in the digital age, with many experiencing declining sales. However, physical retail stores still offer unique advantages, such as hands-on experiences and immediate gratification. Understanding the ever-changing preferences of children and parents is a continuous challenge for manufacturers. Staying attuned to societal shifts is crucial for remaining relevant.

The toys market is ripe for innovation, with opportunities for companies to develop new and exciting products that captivate young minds and offer unique experiences. The U.S. toys market presents opportunities for expansion into international markets, capitalizing on the appeal of American pop culture and iconic brands. Embracing sustainable practices and materials can not only help companies meet consumer demand for eco-friendly products but also reduce long-term production costs. Digital technologies offer opportunities for enhancing toy experiences, from interactive apps to educational content.

The United States Toys market is segmented into product type, sales channel, and region.

Based on product type, the market is segmented into outdoor and sports toys, dolls, vehicles toys, plush toys, others (action figures, construction toys, games & puzzles, etc.). Among these, vehicles toys has a significant share in the United States toys market. Vehicle toys have a timeless and universal appeal. Children are naturally drawn to objects that move, and toy vehicles offer an interactive and engaging play experience. This appeal spans generations, making vehicle toys a staple in the market.

Based on region, the market is segmented into South, West, Mid-West, North-East. Among these, South has a significant share in the United States toys market. The South boasts a wide array of retail outlets, including toy stores, department stores, discount retailers, and specialty shops. Major cities like Atlanta, Dallas, Houston, and Miami are retail hubs with a strong presence of toy stores and chains. This provides ample opportunities for toy manufacturers to reach consumers in the South.

Key market players in the United States Toys market include:

• Hasbro Inc.
• Mattel Inc.
• Spin Master
• MGA Entertainment Inc.
• Radio Flyer
• K’Nex Industries Inc.
• Funko Inc.
• LEGO Group
• Vtech
• Ravensburger

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“The United States toys market is a dynamic and evolving industry that continues to capture the imaginations of children and adults alike. From the historical roots of traditional toys to the modern integration of technology, this market has adapted to changing consumer preferences and societal trends. As it faces challenges related to competition, safety, and shifting retail landscapes, it also presents ample opportunities for innovation, sustainability, and global expansion. The U.S. toys market will likely continue to play a vital role in the lives of families for generations to come, bridging the gap between traditional play and the digital age.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“United States Toys Market Segmented By Product Type (Outdoor and Sports Toys, Dolls, Vehicles Toys, Plush Toys, Others (Action Figures, Construction Toys, Games & Puzzles, etc.)), By Sales Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, Others (Stationery Stores, Gift Shops, Kiosks, etc.), By Region, Competition, Forecast and Opportunities, 2018-2028F”, has evaluated the future growth potential of United States toys market and provides statistics and information on market structure, size, share, and future 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 United States toys market.

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