Sustainable Toys Market

The sustainable toys market size was valued at $18,939.1 million in 2020 and is estimated to reach $59,643.9 million by 2030, registering a CAGR of 12.5% from 2021 to 2030.          

Biodegradable natural materials such as linen, renewable wood, cotton, bamboo, and water based inks are majorly used in the manufacturing of the sustainable toys. It has been manufactured in a nonpolluting way. A way without releasing carbon, greenhouse gases, or chemical toxins. Sustainable toys has been gaining considerable popularity among parents and is expected to sustain its popularity during the forecast period. This is majorly attributed to rising in awareness regarding health effects of toxic chemicals and material used in the toys. Furthermore, the growth is attributed to advancements in the sustainable space, along with material processing technology and functionality. Increasing interest of the parent in biodegradable toys is one of the factor promoting manufactures to innovate their product offerings. The use of digital devices instead of toys and boards games is expected to hamper the sustainable toys market growth. 

The outbreak of the pandemic has positively affected the global sustainable toys market. Various companies in the toys industry witnessed significant growth in lockdown period. For instance, Lego A/S’s first half-profit more than doubled as consumers turned to its well-known building blocks to entertain stuck-at-home children. 

According to the sustainable 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 action figures, building sets, dolls, games/puzzles, sports and outdoor toys 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, the sports and outdoor toys segment was the highest contributor to the market, with $3,911.1 million in 2020, and is estimated to reach $12,465.6 million by 2030, at a CAGR of 12.6% during the forecast period. The market for sports and outdoor sustainable toys is driven by growing popularity of sports among children and adults. These toys play an important role in inculcating team play among small children and teenagers, which is the reason why such toys are being increasingly bought by parents to help their children build desirable behavioral traits. Furthermore, people are getting aware of hazardous effects of conventional toys on environment and kids, which further promotes growth of the sustainable sports and outdoor toys market during the forecast period.  

On the basis of age group, above 10 years segment is expected to witness significant CAGRs of 12.5% during the forecast period.  Children above 10 years of age are often inclined toward collectable action figure toys and dolls. The advent of brand promotion & marketing using licensed products, 3D printing, along with the increasing demand for franchise movies and shows are the trends that positively impact the collectible toys market across this age group.

According to the sustainable toys market trends, on the basis of distribution channel, the specialty stores segment was the highest contributor to the market, with $6,227.6 million in 2020, and is estimated to reach $17,600.9 million by 2030, at a CAGR of 11.3% during the forecast period.  Specialty stores provide high-quality service and detailed product specification & expert guidance to customers. Moreover, these stores promote the sales of international as well as private label brands. The continuously evolving retail industry, changes in consumer behavior, and improvements in overall lifestyle across the world have led to the introduction of new retail formats.

According to the sustainable toys market opportunities. Region wise, North America garnered a major share in sustainable toys market in 2020, and is expected to maintain its dominance throughout the sustainable toys market forecast period.  Operating players in the market are strengthening their retail presence across the region. Amazon, Walmart, and Target have increased their toy assortments and ramped up their marketing in 2019. Walmart, which coined itself as “America’s Best Toy Shop,” introduced a digital playground and relaunched its interactive toy lab while Amazon released its second annual paper toy catalog for holiday 2019. Furthermore, Surge in birth rate, increased spending on preschool education of the children and growing adoption of the eco-friendly products has altogether driven the sustainable toys market in the region.

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 Sustainable 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 sustainable toys industry.

 Sustainable Toys Market Report Highlights