Germany Toy Market, Size, Forecast 2023-2028, Industry Trends, Growth, Insights, Impact of Inflation, Opportunity Company Analysis
Germany Toy Market is determined to reach US$ 6.76 Billion at a CAGR of 3.51% at the end year 2028. The German toy industry is moving towards an increasing percentage of e-Commerce sales. In 2020, Germany exported US$ 4.6 Billion in Toys, making it the 2nd largest exporter of Toys in the world, according to Oec. World. The accomplishment of the toy sector is dependent on satisfying customer desires. As children’s toy desires change quickly, the industry needs to establish the latest products to meet these changing desires continuously. Therefore, the industry has expanded a massive amount in market analysis of R&D. The toy plays a vital role in the evaluation of the child. It can also improve children’s and even adults, cognition, imagination, creativity, and problem-solving skills.
Population under 15 years is Rising in Germany
The total population under 15 is 10.35 Million, in 2021. The German toy industry will be expanding in the upcoming years due to various factors, such as parents’ increased interest in green toys, the resurgence of traditional toys & video games, awareness of the cognitive benefits of building toys, and the exponential expansion of mobile-based gaming.
Although, the protection of the children who play with toys is of central concern to the toy industry. However, the new legislation brings significant burdens such as increased testing or administrative costs, especially for SMEs, the sector puts great effort into ensuring that safety had incorporated into every stage of the product development process. Substantial work goes into toy design, development, testing, production, and delivery.
Germany toy market has a wide variety of toys for the various age groups of children, depending on their activities like Infant/Preschool, Construction, Doll, Games & Puzzles, Vehicles, Plush, Outdoor & Sports, and Arts & Craft. German Government had already established stricter limit values for a child below the age of 14 years and led in its national regulation on the safety of toys.
Infant/preschool toys are the most popular category on Germany’s market. It helps German children to learn while playing. Also, a doctor treats patients with neurological diseases such as Alzheimer’s and dementia with the help of available toys. The major growth factors propelling the market are launching eco-friendly and advanced-quality toys, rising e-commerce sales, and increased disposable income.
Infant/Preschool segment will lead in the Forecast Period
Based on Segmentation, the market is classified into Infant/Preschool, Construction, Doll, Game Puzzles, Vehicles, Action Figures, Outdoor Sports, Plush, Arts& Crafts, Youth Electronics, and Other Toys. Infant/Preschool dominates the largest market share during the forecast period due to the massive demand for infant care products among people, increasing science, math technology, and art-based gadgets, which significantly drives the German Toys Market. Furthermore, the rising development of games and puzzles in the market help to constantly launch video games item by different company.
Specialty Sales Channel will generate the majority of Revenue in Upcoming Years
The toy market is segmented into Specialty, Department Stores, Discounters, E-commerce, and Others. Specialty captured the largest market share due to maintaining different categories of soft toys at their shops. In addition, growing infrastructure facilities related to specialty and brand stores drives the market growth. Furthermore, E-Commerce holds the second largest market share during the forecast period as these days’ online shopping trends among people worldwide is likely to drive the market.
In June 2022, The LEGO Group brings 2-player action to the LEGO® Super Mario™ universe with LEGO® Mario™ and LEGO® Luigi.
In May 2022, VTech Announces New Bluey Toys in the Latest Expansion of Its Pre-school Line.
The report titled “German Toy Market & Forecast, By Segmentation (Infant/Preschool, Construction, Doll, Game Puzzles, Vehicles, Action Figures, Outdoor Sports, Plush, Arts& Crafts, Youth Electronics, and Other Toys), by Sales (Specialty, Department Stores, Discounters, Ecommerce and Others),by Companies (Mattel, Hasbro ,LEGO Group,Ravensburger, Spin Master Corp and vtech)” provides a complete analysis of German Toy’s Market.
By Segmentation: - German Toy Market will be broken up into eleven types:-
4. Game Puzzles
6. Action Figures
7. Outdoor Sports
9. Arts& Crafts
10. Youth Electronics
11. Other Toys
By Sales Channel: - German Toy Market will be broken up into five types:-
2. Department Stores
All company have been covered from 3 viewpoints
• Recent Developments
1. Mattel, Hasbro
2. LEGO Group
4. Spin Master Corp