According to a new report published by Allied Market Research, titled, “Fabric toys Market by Product Type, Age Group and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
The fabric toys market size is expected to reach $14,291.90 million by 2030, registering a CAGR of 3.3% from 2021 to 2030.
Fabric doll play significant role in childhood and it can be children’s companion while the children grows. Doraemon, tom and jerry, chota bhim are some of the cartoon shows have gained major popularity among the children, so children gets influenced by these shows and they wish to buy character fabric toys. Furthermore, rise in demand for customizable fabric toys is further accelerate the growth of the market. Toys including fabric toys keeps children occupied is one of the reason why parents purchase toys for their kids. Furthermore, fabric toys are made from sustainable materials such as wool, cotton and organic fabric, which does affect the health of the children. Use of such biodegradable materials in fabric toys does not pollute the environment, which turn garner the fabric toys market growth during the forecast period. Use of fabric toys does not affect the health of children.
The outbreak of the pandemic has positively impacted the global Fabric toys market. During lockdown period everyone, including children, stuck in their homes. So parents brought toys and games for their kids for entertainment. Furthermore, shortage of raw materials might pose challenges for stakeholders in the industry. Players who are sourcing materials locally are at a much better position.
According to the fabric toys market analysis, the market segmented into type, product type, distribution channel, age group and region. On the basis of product type, the market is categorized into character soft toys, plush animals, dolls and others. On the basis of age group, the market is segmented into, upto 5 years, 5 to 10 years and above 10 years. By distribution channel, market is categorized into, hypermarket/supermarket, specialty stores, departmental stores, online channels and Other. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (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, dolls segment has been gaining significant share in global fabric toys market and is estimated to reach $2,166.50 million by 2030 at a CAGR of 4.3%. Engaged players in the industry are introducing new product lines in the doll segment. For instance, Jada Toys, a leading global toy manufacturer, announced today the launch of their newest line, B-Kind, an eco-friendly doll line that promotes positive messages of kindness and inspires kids to be creative and compassionate. The line features five, 12.25-inch dolls - Brianna, Koral, Ivy, Nora, and Daisy - all of which are eco-friendly, from the recycled materials with which they are made.
According to the fabric toys market forecast, on the basis of age group, the above 10 years segment accounted for around 14.0% market share in 2020, with and is expected to grow at CAGR of 4.3% during the forecast period. Cartons such as Doraemon, Spiderman, Mickey Mouse, and Mr. Bean have been gaining considerable popularity among the children above 10 years age group. Thus, fabric toys manufactures are majorly focusing on introducing carton character depicting fabric toys. Growing viewership for carton movies and shows are expected to generate more demand for fabric dolls and character soft toys, thus, contribute for the growth of fabric toys market during the forecast period
According to the fabric toys market trends, on the basis of distribution channel, the specialty stores segment was the highest contributor to the market, with $3,449.30 million in 2020, and is estimated to reach $4,267.44 million by 2030, at a CAGR of 2.2% during the forecast period. Some of manufacturers set up their franchisee stores, which are also considered in the specialty stores segment. Manufacturers carry out different types of promotional events in the view of generating sales through such stores such as discount offers, seasonal pricing strategies, customer loyalty programs, and others. Thus, some of key marketing as well as pricing strategies adopted by specialty stores management, help drive the growth of the segment in terms of value sales.
According to the fabric toys market opportunities, region wise, Asia-Pacific market is expected to witness significant growth at a CAGR of 4.0% during the forecast period. Asia-Pacific is the fastest growing and developing region with numerous emerging economies, including but not limited to India, China, Vietnam, and Indonesia. With rapid urbanization, digitalization, and emergence of modern retail channels, the Asia-Pacific region is expected to offer lucrative opportunities to the engaged stakeholders. Furthermore, growing parents awareness child safety while playing with toys and rise in expenditure on child pre-education are expected to garner the growth of the Asia Pacific fabric toys market during the forecast period.
The players operating in the fabric toys industry have adopted product launch and business expansion as their key developmental strategies to expand their market, 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 Findings Of The Study
- 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.
- By type, the plush animals segment is estimated to witness the significant growth, registering a CAGR of 3.8% during the forecast period.
- By age group, the 5 to 10 years segment is estimated to witness the significant growth, registering a CAGR of 3.7% during the forecast period.
- In 2020, depending on distribution channel, the departmental stores segment was valued at $2,138.00 million, accounting for 20.5% of the global fabric toys market share.
- In 2020, the US was the most prominent market in North America, and is projected to reach $3,564.81 million by 2030, growing at a CAGR of 2.9% during the forecast period.