In 2023, U.S. retail sales of toys in the United States amounted to an estimated 28 billion U.S. dollars, a drop compared to the previous year. The toys and games market consists of total revenues generated through the sale of action figures, dolls, games and puzzles, plush toys, vehicles, and other toys.

Toy Industry

Play is a child's "work" and toys are the tools children use in play. Toys do more than entertain and keep children occupied. Properly chosen, they should aid a child's physical, mental, social, and emotional development. Play is universally recognized as a vital part of learning and growing and, because toys are such an important ingredient of play, they are invaluable to a child's development into a mature, confident adult.No less today than through the history of civilization, toys reflect the times and cultures and provide children with the tools that help them relate to the world in which they live. Today's toy manufacturers keep pace with the rapidly changing world and provide youngsters with correspondingly appropriate playthings for their enjoyment and to challenge their creativity and imagination.

Video games Toy and game market growth is being fueled by video, console, and computer games, with the industry also benefiting from a growing adult consumer base as this group takes a greater interest in games as a popular leisure pursuit. Video game industry leaders are focusing their marketing efforts on teenagers and adults, with young children no longer being considered the industry’s main target demographic.

In 2024, the Portuguese toy market decreased by -12.3% to $208M for the first time since 2020, thus ending a three-year rising trend. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2024: its value increased at an average annual rate of +4.3% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

The value of Australia's toy market grew by almost one fifth between June 2019 and June 2020, making it the fastest-growing market worldwide. The U.S. ranked in second place with growth of 16 percent, while the value of Brazil's toy market decreased by over one third.

The Turkish toy market contracted modestly to $743M in 2024, which is down by -3% against the previous year. Overall, consumption, however, posted a temperate increase. Over the period under review, the market reached the peak level at $1.2B in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

In 2024, the global toy market decreased by -4.7% to $109.4B, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +1.8% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $121.4B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

In 2020, the sales revenue generated by the toy market in Brazil amounted to 3.8 billion Brazilian reals. This represents a decline in relation to the previous year, when this Brazilian market's revenue surpassed four billion reals.

Sales revenue on the German toy market amounted to 4.4 billion euros in 2024. After a slump from 2006 to 2008, figures picked up annually during the next years. A noticeable increase was visible in 2020, most likely due to the COVID-19 pandemic and children remaining at home more. With the onset of digital devices and technology, the toy market has had to face its own set of challenges in retaining appeal for parents and children. Child’s play Plastic Toys and construction sets and models generated the largest revenue shares in the children's toys and game department in 2024. As in many other industries, the rapid rise of e-commerce and online shopping has influenced where consumers buy toys. While the internet does play a leading role, physical toy shops are still sought out by consumers. Spending on toys for babies and toddlers has fluctuated over the years, amounting to 630 million euros in 2023. Fun and games Mattel is one of the most renowned toy brands for children and toddlers worldwide. Best known as the creators of the iconic Barbie doll, introduced in 1959, the company ranks among the largest toy manufacturers worldwide, trailing only LEGO, Bandai Namco, and Hasbro. Barbie quickly became a cultural phenomenon, symbolizing fashion, aspiration, and creativity for generations of children.

In 2023, the market size of Chinese art toys amounted to around 61 billion yuan, representing a CAGR of 35 percent between 2020 and 2023. According to the forecast, the size of the market would reach 110 billion yuan in 2026.

After twelve years of growth, the Romanian toy market decreased by -30.8% to $273M in 2024. In general, consumption, however, showed resilient growth. Over the period under review, the market attained the peak level at $395M in 2023, and then declined notably in the following year.

In 2023, retail sales of outdoor and sports toys in the United States amounted to approximately four and a half billion U.S. dollars. During this year, as well as previous years, outdoor and sports was the largest segment within the U.S. toy industry.

The revenue in the toys & hobby e-commerce market in the United States was forecast to continuously increase between 2024 and 2029 by in total 14.3 billion U.S. dollars (+42.08 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 48.31 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the toys & hobby e-commerce market was continuously increasing over the past years.Find more in-depth information regarding the revenue concerning the fashion segment of the e-commerce market in North America and the revenue concerning the e-commerce market in the Nordics. The Statista Market Insights cover a broad range of additional markets.

The Polish toy market surged to $869M in 2024, rising by 26% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2024: its value increased at an average annual rate of +5.3% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2024 and is likely to see steady growth in the immediate term.

The global toy market size was valued USD 305.81 billion in 2022 and is expected to increase to USD 391.62 billion by 2030 at a CAGR of 3.14%.

In 2024, the French toy market decreased by -21.1% to $1.4B, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a mild contraction. Over the period under review, the market reached the maximum level at $2.1B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

According to Cognitive Market Research, The Global ride-on toys market size is USD 142.5 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.80% from 2023 to 2030.

The demand for ride-on toys is rising due to the numerous strategies adopted by key participants.
Demand for electric ride-on toys remains higher in the ride-on toys market.
The online category held the highest ride-on toys market revenue share in 2023.
North America will continue to lead, whereas the European ride-on toys market will experience the most substantial growth until 2030.

Advancement in Technology to Provide Viable Market Output

Ride-on toys, like miniature cars and scooters, are children's play vehicles designed for manual or motorized movement. In recent years, technological advancements have transformed these toys. Battery-powered ride-ons now feature realistic sound effects, lights, and even remote controls for parents. Additionally, smartphone app connectivity allows for interactive play. These innovations enhance the overall experience, making ride-on toys not only fun but also educational, promoting hand-eye coordination and motor skills while ensuring safe and engaging playtime for kids.

For instance, in July 2021, McLaren introduced the GT ride-on toy model, its fourth car in the range of children's toys. It is modeled on the company's light and fast-accelerating McLaren GT supercar. Other ride-on models in the range include McLaren P1, McLaren 720$, and McLaren Senna ride-on cars.

Increase in Demand for Ride-on Toys among Paralyzed Children to Propel Market Growth

There has been a notable surge in demand for ride-on toys among paralyzed children. These toys provide an inclusive and empowering experience, fostering mobility, independence, and social interaction. With adaptive features and specialized models, ride-on toys enable children with disabilities to enjoy active playtime, promoting physical and emotional well-being while ensuring a more inclusive play environment.

For instance, in March 2020, Lexus, the automaker, partnered with the Cerebral Palsy Foundation (CPF) to create a unique ride-on car for a young cerebral palsy (CP) patient. Ride-on is a toy category aimed at girls and boys that includes cars, trucks, and other vehicles.

Market Dynamics of Ride on Toys

High Cost of Rod-On Toys to Restrict Market Growth

Ride-on toys, like miniature cars and scooters, are child-friendly vehicles designed for play. They encourage physical activity and outdoor fun, appealing to parents seeking safe, entertaining options for their children. However, their market growth can be hindered by high costs. Premium, motorized models can strain family budgets, limiting accessibility. Manufacturers should focus on affordability and sustainable materials to overcome this challenge and promote wider adoption of ride-on toys, ensuring they benefit more children.

Impact of COVID–19 on the Ride on Toys Market

Ride-on toys are children's play vehicles that kids can ride, enhancing physical activity and outdoor fun. These toys include cars, bikes, and more. The COVID-19 pandemic profoundly impacted the ride-on toy market. Lockdowns and social distancing measures led to increased demand for home entertainment, and ride-on toys became a popular choice for indoor and outdoor play. Parents sought safe and engaging options to keep children occupied during quarantine. This surge in demand encouraged manufacturers to innovate and adapt their products, focusing on safety and durability to meet changing consumer preferences. Introduction of Ride on Toys

The ride-on toys market is flourishing due to a growing emphasis on children's physical activity, safety, and innovation. Parents seek safe and technology-enhanced options, with branding and licensing deals also driving demand. Demographic shifts, disposable income, and online retail have a significant impact. Environmental concerns are pushing for more sustainable options. Effective marketing, competition, and evolving consumer preferences are vital in the industry's growth and evolution.

For instance, in July 2023, ViNi T.O.Y.S announced the debut of an exciting range of products featuring Kick Scooters and ride-ons. These captivating additions to ViNi T.O.Y.S' retail lineup are meticulously crafted to offer children in India countless hours of fun while promoting active p...

The worldwide retail value of pop toys reached around 19.8 billion U.S. dollars in 2019. The market size was estimated to increase by over 100 percent between 2020 and 2024.

The Lithuanian toy market shrank modestly to $36M in 2024, which is down by -4.9% against the previous year. Over the period under review, consumption, however, posted a resilient increase. Toy consumption peaked at $47M in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

The Slovene toy market was finally on the rise to reach $55M in 2024, after two years of decline. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2024: its value increased at an average annual rate of +3.4% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $68M.

In 2024, the Irish toy market decreased by -44% to $598M for the first time since 2021, thus ending a two-year rising trend. In general, consumption, however, recorded resilient growth. As a result, consumption attained the peak level of $1.1B, and then contracted notably in the following year.

The Luxembourg toy market skyrocketed to $31M in 2024, growing by 34% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a perceptible expansion from 2012 to 2024: its value increased at an average annual rate of +2.0% over the last twelve years.