World Market for Toys and Games

May 2024

Sales of toys and games are forecast to rebound from a sharp decline in 2022, with a return to growth over the forecast period, despite ongoing inflationary pressures and economic uncertainty. Video games account for two thirds of total toys and games sales, with growth being fuelled by the surging popularity of e-sports and streaming platforms like Twitch. While video games will continue to dominate, traditional toys are expected to see modest growth over the forecast period.

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This report comes in PPT.

Key Findings

The power of pop culture influences sales

Pop culture is driving toy sales, with films like Barbie and Super Mario boosting sales for Mattel and Nintendo. Toymakers are capitalising on kidults’ nostalgia for childhood characters with new products and collaborations.

Toy companies embarking on new strategies

Companies are trying to maximise profitability by refining their existing product offerings and targeting new consumer segments for revenue growth.

Rise of emerging markets

Toy companies are expanding their focus on high-growth emerging markets like Brazil to offset slow growth or declines in key toys and games markets like the US.

Playing smart

Toy companies are adopting AI to enhance product development, shorten time-to-market, and create more engaging, personalised offerings to drive growth in a challenging market.

Value hackers stretching their money

Rising costs are forcing consumers to seek creative ways economise, and they are becoming more selective in their spending on toys, favouring those that offer greater value.

Key trends impacting sales of toys and games
Toys and games are still an integral part of consumers’ lifestyles
Toys and games recovering and will exceed 2021’s COVID-19-related high by 2026
Digitalisation fuelling the popularity of video games globally
Toy companies are targeting revenue growth and shifting their focus to emerging markets
Local games developers critical to video games growth
Government policies and tariffs will dampen the appeal of high growth markets
Action figures and accessories: New TV shows cause Beyblade shares to double in Japan
Games and puzzles: Familiar classics attracting new and younger fans to sustain interest
Dolls and accessories: Barbie is the queen, while blind collectibles are becoming popular
Baby and infant, and pre-school: Decline in spending to stabilise after 2026
Mobile games and online games and subscription propel video game sales
Physical stores can offer an engaging experience that complements e-commerce
Leading companies have lost market share as consumers seek cheaper toys
Avid gamers help sustain Sony’s growth, while casual gamers seek other entertainment
Genshin Impact was a global success that made miHoYo billions
Hot Wheels driving Mattel forward, while Barbie remains popular
Mattel is the leader in dolls globally, but key Asian markets have their local favourites
Film tie-ins have transformed Hasbro’s fortunes
Beyblade X spinning in the money for Tomy
Key trends impacting sales of toys and games
Pop culture influences driving sales of toys and games
Mechamato powering Malaysia to the global stage
Toy companies improve their product offerings and seek new consumer segmentation
“Fewer, Bigger, Better”, as Hasbro focus on its core assets
AI can leverage the play experience and shorten time-to-market of new products
Pictionary vs AI: Reinventing an old game with existing technology
Emerging markets growing in importance as US falters
Global and local brands are customizing for the Mexican consumers
Value hackers stretching their money and demand value
Muslim Block uses culture and family bonding to attract Muslim buyers in the UAE
Key trends impacting sales of toys and games
Global snapshot of traditional toys and games
Global snapshot of video games
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia

Toys and Games

This is the aggregation of traditional toys and games and video games.

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