India Toys Market Outlook 2023-2028: Industry Growth Rate (CAGR) of 12.2%

DELHI, DELHI, INDIA , March 15, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Indian Toys Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028,” the toy market size in India reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028. Toys are objects designed for play, enjoyment, and learning for children and adults. They come in various forms, including dolls, action figures, puzzles, board games, building blocks, and electronic devices. They have been a part of human history for thousands of years, with early toys made from natural materials such as wood, clay, and stone. In the 20th century, the development of plastics and other synthetic materials led to a revolution in toy manufacturing, creating new designs and increasing the affordability of toys. Toys play an important role in childhood development, helping children to learn about the world around them and develop social, cognitive, and motor skills. They can also be used for therapeutic purposes, such as play therapy, where toys help children express their emotions and solve problems. They can provide hours of entertainment and educational value for children and adults alike. Toys such as building blocks, balls, and ride-on toys can help children develop gross motor skills, balance, and coordination. In addition, toys significantly promote children's physical, cognitive, social, and emotional development.

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Competitive Landscape with Key Players:

• Funskool
• Lego
• Mattel
• Hasbro

Also, Read the Full Blog Top Toys Companies in India

Industry Growth:

The market in India is primarily driven by the inflating disposable incomes of consumers. In line with this, the increasing popularity of toys and the rapidly growing population are significantly contributing to the market growth. Furthermore, the rising influence of popular media and entertainment, such as television shows, movies, and video games, is positively influencing the market. Apart from this, the escalating focus on early childhood education is catalyzing the demand for educational and developmental toys. Moreover, the significant growth of the organized retail sector in India and the easy availability of toys are propelling the market. Besides, the key companies are focusing on providing different kinds of gaming items to surprise the children while unboxing the packed items. This is expected to generate interest in playing with such items among the children, favoring market expansion. The emergence of toys made up of eco-friendly materials such as bamboo, clay, cork, and others are anticipated to create a positive outlook for the market.

Key Market Segmentation:

Breakup by Toy Type:

• Plush Toys
• Electronic Toys
• Games and Puzzles
• Construction and Building Toys
• Dolls
• Ride-Ons
• Sports and Outdoor Play Toys
• Infant/Pre-school Toys
• Activity Toys
• Other Toys

Breakup by Gender:

• Unisex Toys
• Toys for Boys
• Toys for Girls

Breakup by Distribution Channel:

• Specialty Stores
• Supermarkets and Hypermarkets
• Online
• Others

Breakup by Distribution Channel:

• Specialty Stores
• Supermarkets and Hypermarkets
• Online
• Others

Breakup by Regional Insights:

• Maharashtra
• Tamil Nadu
• Karnataka
• Gujarat
• Delhi
• Others

Key highlights of the Report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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