Worldwide growth of the toy market

According to Technavio's latest market research, under the title "Global Toys and Games Market," the market for toys and games is expected to grow by $70.12 million from 2022 to 2027. 

One major key factor favoring and driving the growth of the market, according to the report, is the increase in the middle class and the associated disposable income and the increasing children's TV and Internet viewership.  

Another factor, it said, is increasing urbanization, which is contributing to the growth of the toys and games market. 

In addition, changes in consumer lifestyles combined with an increase in purchasing power have led to higher disposable income, especially in developing countries such as India and China. 

In combination, the growth in personal personal income and the trend toward urbanization are leading to an increase in demand for consumer products in the sector toys and games. 

This trend especially applies to organized, multi-brand retail outlets. This is creating higher revenue opportunities for suppliers in the market, which is fueling market growth. 

Technavio points out that merchandising manufacturers and licensors see most of their sales around the release of a movie or TV series. 

This is an ongoing cycle - new characters and intellectual property from newer TV series and movies replace existing ones. 

Licensing agreements and new products around the characters are created in the context of new films and series. 

Prime examples of the hype that can arise around such products include this year's release of "Barbie" and „The Little Mermaid“.

Further key figures, trends and challenges can be found in the study at technavio.com

Source: www.licenseglobal and www.technavio.com