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.

Dollar sales of toys have maintained double digit growth since the outbreak of coronavirus in the United States in March 2020. Year-over-year sales growth peaked in May 2020 at 37 percent and dipped slightly to 19 percent in June.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Between January and May 2020, the sales volume of toys in Mexico declined by 14.5 percent, when compared to the same period of the previous year. In May alone, this decrease reached almost 29 percent. In that same five-month period, the sales value of toys in Mexico went down by seven percent.

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Toy Market Size 2025-2029

The toy market size is forecast to increase by USD 28.3 billion at a CAGR of 4.4% between 2024 and 2029.

The market is experiencing significant growth due to several key factors. The increasing personal disposable income and the rising middle-class population are driving market expansion. Additionally, the popularity of construction toys continues to rise, providing ample opportunities for market growth. Furthermore, the digital age has brought about a rise in the demand for digital games and e-games, which is another major trend In the toy industry. These factors, among others, are shaping the future of the market and making it an attractive investment opportunity. Adapting to changing consumer preferences and leveraging social media platforms for distribution can enhance market resilience. Amidst evolving dynamics, the toy industry remains vibrant, driven by a blend of traditional toy culture and the online gaming revolution. The market analysis report delves deeper into these trends and provides insights into the challenges and future outlook of the industry.

What will be the Size of the Toy Market During the Forecast Period?

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The market is a vibrant and dynamic industry, encompassing a diverse range of products and catering to various demographics. With the proliferation of websites, advertising, blogs, and publications, information about new releases, safety standards, and consumer behavior is readily accessible. Manufacturing processes incorporate design innovation, sustainability, and safety regulations, with certifications and eco-friendly materials gaining popularity. Associations and conventions foster collaboration and knowledge sharing among industry professionals. Demographics span from toddlers to adults, with culturally significant toys and subscription boxes catering to niche markets. Import/export, distribution, and wholesale channels ensure global accessibility. Product safety and licensing agreements are crucial considerations, while awards and buying guides help guide consumer decisions.

How is this Toy Industry segmented and which is the largest segment?

The toy industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Outdoor toys and dolls
  Building sets and puzzles
  Action figures and vehicles
  Others


Distribution Channel

  Offline
  Online


Age Group

  Infants and toddlers
  Kids
  Teenagers


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Product Insights

The outdoor toys and dolls segment is estimated to witness significant growth during the forecast period.

The outdoor and sports toys segment dominates the market, driven by the growing health and fitness consciousness among parents. Outdoor toys, including play tents, pools, and airplanes, foster activities such as camping, hiking, and touring, addressing concerns over childhood obesity and inactivity. Additionally, the rise in sports participation among children fuels the demand for sports toys. Outdoor play offers numerous benefits, such as improved muscle health, lower BMI, and enhanced communication skills, further propelling market growth. Innovative packaging, promotional merchandise, collectibles, and educational board games are other significant segments, while eco-friendly materials, physical activity, and customer service remain key trends. Online purchasing, technological advancements, and increasing disposable income further influence market dynamics.

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The outdoor toys and dolls segment was valued at USD 34.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 37% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is the largest global segment, accounting for significant market share and expected growth during the forecast period. The US dominates the region's toy industry, with Canada following closely. The Canadian market has experienced an uptick in demand for both affordable and premium toys. Mid-priced toys have shown restrained sales, resulting in increased discounts. Despite this, the market has seen a rise in sales volume due to the discounted offerings. Brain training cubes, cork and lockd

Amid lockdown measures due to the COVID-19 pandemic, the demand for toys in Mexico varied across categories. Between January and April 2020, board games and puzzles sales in the country registered an increase of 83 percent, while outdoor games grew by 1.9 percent in sales. In contrast, sales of dolls and stuffed animals dropped by 22 and 32 percent, respectively, when compared to the same period of the previous year.

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.

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.

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 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 EU toy market declined to $10.9B in 2024, with a decrease of -8.7% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $12.2B. From 2022 to 2024, the growth of the market failed to regain momentum.

In 2024, the German toy market decreased by -0.8% to $2.4B, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Toy consumption peaked at $2.6B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The Moroccan toy market was estimated at $293M in 2024, leveling off at the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $328M in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

In 2024, the Middle Eastern toy market was finally on the rise to reach $4.9B after two years of decline. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $5B in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

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Stuffed Animal Plush Toys Market Size 2024-2028

The stuffed animal plush toys market size is forecast to increase by USD 4.81 billion at a CAGR of 7.44% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing popularity of these toys on social media platforms. The digital age has transformed traditional playthings into viral sensations, with kids and adults alike sharing pictures and videos of their collections online. This social media buzz creates a strong demand for these toys, particularly among younger generations. Another key trend shaping the market is the rising preference for eco-friendly plush toys. Consumers are increasingly conscious of their environmental impact and are seeking sustainable alternatives to mass-produced, plastic toys. Eco-friendly plush toys, made from organic cotton, recycled materials, or other sustainable sources, are gaining traction In the market. Additionally, the high popularity of e-games and digital games has not diminished the appeal of physical toys. In fact, plush toys offer a welcome respite from the digital world, providing a tactile and comforting experience for children and adults alike. Companies seeking to capitalize on these trends should focus on offering eco-friendly, socially shareable plush toys to meet the evolving needs and preferences of their customers.

What will be the Size of the Market during the forecast period?

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The plush toys market, encompassing stuffed animals and soft toys, continues to experience strong growth, driven by several key factors. Rising disposable incomes worldwide have fueled increased demand for these comforting and collectible items. Social media platforms have become a significant marketing channel, enabling brands to reach consumers and generate buzz around new product releases. Gen Z individuals, in particular, have shown a strong affinity for plush toys, with occasions and events such as puppet shows, gift-giving, and anime character licensing driving sales. Product development In the market is ongoing, with innovations including sensors and germ-resistant materials.
The ecommerce industry's expansion has also played a role In the market's growth, enabling easy access to a wide range of plush toys, from action-figure versions to vintage cartoon characters. The market's size is substantial, with textile materials such as PP cotton and wool fabric commonly used in production. Regulations governing safety and quality are strict, ensuring that consumers receive high-quality, non-toxic products. The cat toy market represents a significant segment of the plush toys industry, with synthetic materials also gaining popularity due to their durability and ease of production.

How is this Industry segmented?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Cartoon toys
  Stuffed animals
  Action figures


Distribution Channel

  Offline
  Online


Geography

  North America

    US


  APAC

    China
    Japan


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Product Insights

The cartoon toys segment is estimated to witness significant growth during the forecast period. The global market experienced significant growth in 2023, with the cartoon toys segment leading the way. This segment's dominance can be attributed to the production and sale of soft toys modeled after popular cartoon characters from movies, TV shows, and animated series. These toys, typically made from plush materials such as synthetic fibers and textiles like PP cotton, are designed to be cuddly and appealing to children. The rising disposable incomes of consumers, particularly millennials and Generation Z individuals, have fueled demand for these toys as gifts and emotional support items. Additionally, the proliferation of social media platforms has facilitated the sharing of toy collections and created a culture of collectibles.

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The cartoon toys segment was valued at USD 4.3 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The global market experienced significant growth in 2023, with North America leading the way due to increasing disposable incomes and the popularity of these toys among consumers. Stuffed toys, also known as plush toys or so

This statistic shows the leading toy categories in Canada in 2020, by year-over-year sales growth. Sales of outdoor and sports toys grew by 28 percent compared to the previous year.

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 games and puzzles in the United States amounted to approximately three and a half billion U.S. dollars, which was roughly the same as last year's sales figures.

Graph and download economic data for Retail Sales: Hobby, Toy, and Game Stores (MRTSMPCSM45112USN) from Feb 1992 to Jan 2025 about game, hobby, toy, retail trade, sales, retail, and USA.

China Adult Product, Sex Toy: Tmall Online Sales: Market Share data was reported at 0.530 % in Aug 2020. This records an increase from the previous number of 0.510 % for Jul 2020. China Adult Product, Sex Toy: Tmall Online Sales: Market Share data is updated monthly, averaging 0.510 % from Jun 2019 (Median) to Aug 2020, with 15 observations. The data reached an all-time high of 0.610 % in Jul 2019 and a record low of 0.260 % in Nov 2019. China Adult Product, Sex Toy: Tmall Online Sales: Market Share data remains active status in CEIC and is reported by Moojing Market Intelligence. The data is categorized under China Premium Database’s Consumer Goods and Services – Table CN.HTB: Taobao and Tmall Online Sales: Cultural and Entertainment Article.

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.