In 2023, the import of toys, games, and sports requisites to Viet Nam stood at 329.77 million US dollars. Over the past two years, the market experienced modest growth with a year-on-year variation of 4.96% in 2022 and 4.63% in 2023. Looking at a broader horizon, the average CAGR over the last five years was 5.38%. This demonstrates a stable, but declining growth trend since the double-digit growth of earlier years. For the forecast period from 2024 to 2028, the import market is projected to grow at an average rate of 3%, indicating a steady but slower pace compared to historical data.
Future trends to watch for include:
- Shifts in consumer preferences towards digital and interactive toys
- Potential market saturation affecting growth rates
- Economic factors impacting disposable income and spending on non-essential goods
- The influence of global supply chain issues on import volumes and costs