Global Construction Toys Market- Industry Analysis and Forecast (2020-2027)
- POSTED ON Thursday, April 8, 2021
Global Construction Toys Market was valued US$ 11.5 Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during the forecast period.
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Construction toys are most popular for boy’s categories. It has educational, teaching basic mechanical principles like levers and gearing. Toys, like construction toys, help in inculcating problem-solving and productive skills in children. Construction toys help in the mental, physical, and intellectual development of children. The creativity and social skills of children also progress by playing with construction toys. Also, vendors are offering innovative construction toys, for example, city-building toys, building blocks, and construction vehicle model toys for both boys and girls. These useful effects of construction toys on overall childhood development will boost its demand.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.Global Construction Toys Market Dynamics:
The demand for toys has increased concerns over the safety of the raw materials used in construction toys. Parents and educators are gradually choosing green toys made of eco-friendly raw materials. To capitalize on this trend, many established players are introducing eco-friendly construction toys in the market. These are the key factors expected to boost the growth of the global construction toy market in the current year. This introduction of environmentally-friendly toys will be one of the key trends that will positively influence the growth of the construction toys market throughout the estimated period.
On the other hand, the increased popularity of digital and e-games is one of the key challenges in the growth of the global construction toys market. The majority of toymakers advocate plastics to be completely safe for kids based because of its water resistance and low level of toxicity. Toys containing Bisphenol A, PVC, and plasticizers with adipates and phthalates as constituents are not appropriate for kids and can have a serious adverse effect on their health. As well, regulatory authorities in many countries including India, Germany, and Sweden have a compulsory ban on the use of these materials in toys. Growing consciousness among parents and education authorities is forcing the toy manufacturers to avoid the above-mentioned plastic materials.Global Construction Toys Market Segmentation:
The global Construction Toys market is segmented by product, raw material, distribution channel, and region.
According to product, bricks, and blocks expected to hold the market share of above 55% in terms of revenue in 2018 and remain steady dominance during the estimated period, thanks to the growing consumer inclination for the toy that keeps the kids busy for long durations. Additionally, the manufacturers have been inventing the toy sets to include newer designs and copying real-life scenarios. For example, in Feb 2019, LEGO launched new product sets replicating 50 years of NASA’s achievements.Moreover, tinker toys are expected to hold the highest CAGR of the global market. These products are more challenging and they offer a wider scope of construction. The presence of components, like wheels, caps, couplings, pulleys, and sticks stimulate creativity and logical thinking.
Region-wise, North America held the market share of over 30% in 2018 and expected to remains steady dominance in the estimated period which is attributable to increasing application of blocks and construction sets in playschools from U.S. and Canada, for instance, researchers and child psychologists from many universities in the U.S. use construction toys for studying the cognitive skills of kids.
Furthermore, Asia Pacific is expected to grow at the fastest CAGR during the forecast period. With parents becoming aware of the role of construction toys in holistic growth and education, the demand for these products is expected to witness a significant rise in developing economies, such as China and India.Global Construction Toys Market Recent Development:
In October 2018 Walmart joined with ZURU to launch a new toy brick brand, MAX BUILD MORE, a premium quality, value-priced toy brick line.
The objective of the report is to present a comprehensive analysis of the Global Construction Toys Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Construction Toys Market dynamics, structure by analyzing the market segments and project the Global Construction Toys Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Construction Toys Market make the report investor’s guide.Scope of the Global Construction Toys Market: Inquire before buying
Global Construction Toys Market , By Product
• Bricks & Blocks• Tinker Toy• OthersGlobal Construction Toys Market , By Raw Material
• Wood• Polymer• Metal• OthersGlobal Construction Toys Market , By Distribution Channel
• Online• OfflineGlobal Construction Toys Market , By Region
• North America• Europe• Asia Pacific• Middle East & Africa• South AmericaKey players operating in the Global Construction Toys Market
• K’NEX (Basic Fun, Inc.)• Tegu• Mattel• Spin Master Ltd.• The LEGO Group.• PlayMonster LLC.• KnuckleStrutz• Magformers• Schylling Inc.• Nanoblock• Polydron (UK) Limited• Hasbro• Learning Resources• VTech Holdings Limited
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