The import of Toys, Games, and Sports Requisites to China has shown a steady growth from 1.3513 Billion USD in 2013 to 2.4906 Billion USD in 2023. The value in 2023 stood at 2.4906 Billion USD. The market experienced an overall increase with notable spikes in 2014 (53.37%) and declines in 2015 (-9.38%). The recent years have seen modest growth, with a slight slow down as seen in 2020 (-1.63%). The year-on-year growth from 2022 to 2023 was 3.03%, while the CAGR over the last 5 years averaged 3.37%.
Future trends indicate a continuing steady increase, with forecasted values reaching 2.8729 Billion USD by 2028. The forecasted 5-year CAGR is 2.25%, projecting an overall 11.74% growth rate over this period. This suggests a stable rise in imports, though at a slightly slower pace compared to previous years.
Future trends to watch for include:
- The impact of evolving consumer preferences on import volumes.
- Economic policies affecting international trade and tariffs.
- Technological advances in the toy and game industry influencing product demand.
- Shifts towards sustainable and eco-friendly products.
- Global supply chain issues and their direct effect on imports.