Toys and Hobby Stores Market

The toys and hobby stores market includes various goods that people usually buy for their leisure activities. They include several traditional games and toys for children and adults, musical instruments, video games, indoor & outdoor sports equipment, fishing equipment, dolls, games, and puzzles, etc. Multifunctional and interactive toys and games are gaining popularity among children as well as parents, thereby positively impacting the global market for toys and hobby stores. Toys and hobby products are mostly designed for entertainment, learning, and cognitive development. Technology has played a significant role in the development and growth of the global market for toys and hobby stores. Earlier, the toys like balls, hoops, puzzles, spinning tops, construction set, dolls, vehicles, soft toys, frisbee, and others were demanded widely. But, with the technological advancements, digital toys like drones, smart robots, remote-controlled cars, touch & learn activity desk, and others are becoming popular day by day. 

China is the leading producer, as well as exporter of toys and hobby stores market, while North America holds the largest share in the global revenue generated by the toys and hobby stores market. In addition, offline retail stores dominate the sales of these products, with the highest demand from the Asia-Pacific region.

COVID-19 Scenario Analysis: 

• Due to the COVID-19 outbreak, the toys and hobby store market is expected to experience a decline because of the stay-at-home order in many countries. 
• As people are seeking at-home entertainment options, the toys and hobby products industry is expected to experience a surge in online orders amid the corona virus outbreak. 
• The export-import activities have been put on a halt by almost all countries causing supply chain disruption. 

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rise in consumer spending, increase in demand for goods for leisure activities, surge in disposable income, improvement in living standards, and increase in awareness related to positive effects of such goods on the mental and physical development of a child, rise birth rate, reduced time for parenting, and changing lifestyle drive the global market for toys and hobby stores. In addition, the prevailing trend among millennial parents to invest in educational toys for the cognitive development of the child also fuels the market for these products. The toys and games based on cartoon characters, TV shows, and movies have a great influence on children's minds, and these toys based on fictional characters are thus, further escalating the growth of the market. The advancement in technology, digitalization, and artificial intelligence are other factors that boost the demand for the toys and hobby stores market globally. 

However, price of the toys, suitability of raw material, safety measures related to the use of toys and hobby products, heavy tariffs rates, import duty hike, and increased competition are few factors that hamper the market growth.

Key Benefits of the Report:

• This study presents the analytical depiction of the global toys and hobby stores industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global toys and hobby stores market share.
• The current market is quantitatively analyzed to highlight the global toys and hobby stores market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global toys and hobby stores market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Toys and Hobby Stores Market Research Report:

• What are the leading market players active in the toys and hobby stores market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?

 Toys and Hobby Stores Market Report Highlights