The turnover of children’s toys in China has shown fluctuating trends over the past decade. After peaking in 2015, there were significant declines in 2016 and 2017. From 2018 onwards, a recovery began, although the year-on-year (YoY) growth remained modest, typically just under 1% per annum from 2019 to 2023. In 2023, the turnover stood at 387.47 hundred million Yuans Renminbi. The computed CAGR for 2023 over the last five years was 0.98%, indicating a relatively stable period with slight positive growth.
Looking forward, the forecast period from 2024 to 2028 projects a continued steady increase in turnover. The forecast 5-year CAGR is anticipated to be 0.67%, with a total growth rate of 3.39% over this period.
Future trends to watch for:
- Technological advancements in toys, such as integration with augmented reality and AI.
- Growing influence of digital and online platforms in toy marketing and sales.
- Impact of demographic changes, particularly the shrinking child population in China.
- Increasing awareness and demand for educational and eco-friendly toys.
