Are Toy Products Still a Good Business?
Market Demand for Toys
Toys remain a staple in households around the world. The demand for high-quality, engaging, and educational toys is ever-present, suggesting that the toy market is still thriving and offers ample business opportunities.
Toys business is sustainable. As long as there are people, there are toys. Toys play an important role in childhood, allowing children to experience comfort and joy, and the promise of a life fulfilled through play.
Even adults, sometimes also need a toy for stress relief, and get comfort when they’re feeling nervous or stressed, or anxious. A Gadget toy would be great to accompany them during traveling.
Moreover, toys are not only important to people, but also to pets. For dogs and other pets, toys are not a luxury, but a necessity. Toys help fight boredom when you have to leave your dog at home or when you’re working, Toys can even help prevent your dog from developing certain problem behaviors.
You know what, pet toy business size in 2023 is US$2.89 billion, and the forecast market size in 2033 is US$5.90 billion. (referred from Future Market Insights)
In 2021, the toy industry was valued at approximately $140.8 billion and is expected to reach $230.4 billion by 2028 at a compound annual growth rate (CAGR) of 7% from 2021 to 2028. The global toy industry has shown resilience and growth in recent years, despite changing consumer preferences and challenges from the digital world.
Toy categories
Toys products is a very big industry, have many categories.
If divided by raw materials, there’re mainly plastic toy, plush toy, wooden toy and metal toy; if by functions, there’re educational toy, stress relief toy, vehicle toy, light-up toy, sports toy, interactive toy, etc.
It’s critical to figure out which category suits your target audience and elevate a toy business.
