Fabric Toys Market

The fabric toys market size was valued at $10,417.20 million in 2020, and is estimated to reach $14,291.90 million by 2030, registering a CAGR of 3.3% from 2021 to 2030.          

Fabric toys are also used for display, decoration of bedrooms, and given as gifts for birthdays and parties. Furthermore, they used as comfort objects in halls and bedrooms. Rise in demand for soft and comfortable toys and concern about children safety while playing drives demand for fabric toys. Growth in population, especially children and rise in disposable income are expected propel growth of the market. Manufacturing companies are increasingly focused on product development and innovations in sync with imposed regulations to gain a competitive edge over other market players.

Children are increasingly influenced by various popular cartoon shows and children movies such as spiderman, iron man, Doraemon, and Mr. Bean, which is further expected to increase demand for character depicting fabric toys.

The outbreak of the pandemic has positively affected the global fabric toys market. Various companies in the toys industry witnessed significant growth during the lockdown. People including children were restricted to stay at their homes during the pandemic so parents engaged them with fabric toys.

The fabric toys market is segmented into type, product type, distribution channel, age group, and region. On the basis of product type, it is categorized into character soft toys, plush animals, dolls, and others. On the basis of age group, it is segmented into up to 5 years, 5 to 10 years, and above 10 years. By distribution channel, it is categorized into hypermarkets/supermarkets, specialty stores, departmental stores, online channels, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

On the basis of product type, the plush animal segment was the significant contributor to the market, with $2,876.50 million in 2020, and is estimated to reach $ 4,130.00 million by 2030 at a CAGR of 3.8% during the forecast period. Plush animal toys have high demand as they are often one of the most sought-after gift items. These toys are not exclusive to certain group of people, but are usually bought for both kids as well as adults. Furthermore, customization in plush animal toys has been introduced, which propels the global market growth. In addition, eco-friendly raw materials are now being incorporated in plush animal toys by leading players engaged in this target segment.

On the basis of age group, the up to 5 years segment was the highest contributor to the market, with $4,780.15 million in 2020, and is estimated to reach $6,136.02 million by 2030, at a CAGR of 2.6% during the forecast period. The segment consists of toys designed for the age group of up to 5 years. Action character soft toys and dolls are some of the major toys for this segment. Toys play an important role in the initial years of a child’s development. Furthermore, various innovative products are now being introduced for this age group. Increase in retail penetration, proliferation of specialty stores catering to this particular age segment, and emergence of online channels have augmented growth of the fabric toys market.

According to the fabric toys market trends, on the basis of distribution channel, the online channels segment is estimated to reach $1,860.76 million by 2030, at a CAGR of 4.8%. Online sales of fabric toys is expected to gain significant traction in the coming years. Consumers can obtain access to products manufactured in different countries through online retail. Consumers who demand a product from a specific brand but do not have access to the physical store can easily purchase it from online portals. Therefore, online stores enable attracting a larger consumer base across the world. It is regarded as the fastest-growing sales channel in the global market.

Region wise, Europe was the significant revenue contributor, accounting for $2,750.09 million in 2020, and is estimated to reach $3,444.35 million by 2030, with a CAGR of 2.3%. In developed economies of Europe, packaging is becoming more environmentally friendly as some toymakers use earth-friendly inks and biodegradable boxes while others simply use less packaging overall. Eastern Europe is flooded with inexpensive made-in-China imports while domestic manufacturers of traditional toys took a pounding. However, lack of quality and durability of these imports has disappointed consumers and repeat purchases of these toys have declined.

Players operating in the global fabric toys market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include HASBRO, Safari Ltd., Mattel, Inc., Build-A-Bear Workshop, Inc., Lego System A/S, Sanrio Co., Ltd, RAVENSBURGER AG, Goliath Games, CLEMENTONI and Tomy company, ltd.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020–2030 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the Fabric toys market share. 
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the Fabric toys industry.  

 Fabric Toys Market Report Highlights