Global Action Figures Market - 2022-2029

Global Action Figures Market - 2022-2029

Market Overview

Action figures are toys that represent different characters from movies or other social media. Children often use action figures to act out scenarios in their playtime. It represents well-known characters from science fiction and fantasy films, animation, comic books, and television series to be used for decoration and as an adventure play toy. Action figures are often referred to as dolls. Playing with the Action figures helps kids deal with group dynamics, collaborate and compromise. It also helps to improve creativity, communication, and social skills. The increase in children's inclination towards self-engaging and more interactive toys has fueled the demand for action toys. Also, the popularity of some characters in film, video games, and comic books are expected to boost the demand for the product across the world during the forecast period.

The global action figures markets were valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 5.36% during the forecast period (2022-2029).

Market DynamicsIncreasing consumer awareness about role of action figures in the children’s life drives the market growth

Action figures play an important role in the development and growth of children. Action figures play an important role in the development of children’s brains as toys aid in acquiring logical and reasoning skills and help in gaining spatial reasoning along with logical skills. Playing with the action figures assists children in learning as well as building social and communication skills. The increasing trend of strategy-based & educational-based toys like action figures among children boosts the growth of the action figures market. Children are continuously excited to discover and learn something new. Action figures stimulate a child’s senses, inspire their imaginations, and urge them to socialize. Action figures with contrasting colors are fascinating and stimulate their developing vision. Children can learn a lot of skills from playing with action figures. Action figures are designed to increase the kids’ literacy, hand-eye coordination, memorization, motor skills, and identification skills. Action figures seek to develop the sense of touch, sight, and hearing. Children are born with an incredible sense of curiosity. In their efforts to understand the environment around them, kids curiously explore the surrounding objects. With action figures for kids, there is a safe experience of imaginative play, creative designing and building, experimentation, and exploration.

Market Segmentation: Online segment accounted for the highest share in global action figures market

The increase in consumer demand for the online sales channel is due to the factors such as improved internet connectivity and the advent of online shopping events, such as Black Friday and cyber-Monday. Online shopping is easier, and it takes less time the shopping. There is no need to go outside and search for the shops. The availability of different brands with special discount offers further helps to boost segment growth in the forecast period. Home delivery options are making online shopping more easily. They can select from various delivery alternatives and get a more specialized shopping experience. It can be expected to propel the market growth during the forecast period.

Based on material type action figure market is segmented as plastic, silica rubber, and others. The plastic segment accounted for the largest market share owing to the increasing consumer demand for durable toys made from plastic. Plastic action figures are typically made of ABS plastic, also known as Acrylonitrile Butadiene Styrene. ABS plastic is a thermoplastic material with good impact resistance properties. ABS plastic action figures have more demand in the market due to their durable nature. Toymakers often use them to manufacture toys, including dolls, cars, planes, etc.

Geographical Penetration: North America is the dominating region during the forecast period

North American region held the largest market share in the action figures market due to increased consumer demand for durable and skill booster toys like action figures. The United States and Canada held the largest market share due to the increased consumer disposable income in the region. Changing consumers' preferences for educational toys over traditional toys helps to boost action figures sales in the region. An increase in the disposal income of the consumers in the region resulting in the purchase of more luxury goods is a key factor driving this region's contribution in revenue to the global market. An increase in the working women population allows them to spend more on toys for their children. Growing awareness regarding the benefits of these products creates new potential opportunities for companies in this industry. Some of the major key players in the region launched new products due to increased consumer demand. For instance, in September 2022, Hasbro's launched Selfie Series Action Figures in the United States. There are 14 different action figures available in the market. The company partnered with the 3D-printing company to create a custom action figure with their likeness.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Hasbro, The LEGO Group, Playmates Toys Ltd., JAKKS Pacific, Inc., Mattel, Bandai Namco Holdings Inc., Diamond Select Toys, Good Smile Company, Inc., Spin Master, and McFarlane Toys. Some major key players launched new products to expand their business. For instance, in October 2022, Hasbro launched New Marvel and Star Wars Action Figures during the 2022 Pulse Premium Event. The company launched different action figures, including several figures in the retro-style Marvel Legends series: Luke Cage, Spider-Woman, an entire line of five Fantastic Four figures complete with villain Doctor Doom, and Ghost Rider with his Hell Cycle. In February 2022, Lego and Hasbro launched Love and Thunder Collection. Thor: Love and Thunder collection includes new Mjolnir and Stormbreaker toys and action figures of Thor, Mighty Thor, and Korg in their new suits for the sequel. Also, in July 2022, Jakks Pacific launched New Super Mario Interactive Figure Let’s Go, Yoshi! This figure has several interactive triggers and 13 points of articulation for many posing options. Kids and collectors age three and up will have endless fun with Yoshi to activate his 20+ iconic sounds and music. Push down on Yoshi’s head for a cool, chomping action and sound. Other activation trigger points include Yoshi’s shell and feet, while his top spike activates his instantly recognizable music.

COVID-19 Impact: Positive impact on the global action figures market

Major key players in the market faced challenges with supply chain and closure of the shops, and shifts in consumer demand due to depressed incomes and a shift to digital entertainment; traditional toys are expected to see an overall slower performance globally. China is the major exporter of toys, but due to the Covid pandemic, all the operations in China were closed, which has a negative impact on the action figures. However, several categories that fit in well with the needs of at-home children and adult entertainment and education have seen a surge in early 2020, such as games and puzzles and construction.

However, the trend of online shopping and digitalization helped boost buying action figures in the market. Moreover, stay-at-home mandates have given a further boost to video games and action figures. In April 2020, Mattel recalled and showed respect for the Heroes of the Pandemic with a New Line of Action Figures. Fisher-Price honors delivery drivers, nurses, EMTs, doctors and grocery workers. According to the toy association data, Global sales of toys were $96.0 billion in 2020 compared to $92.4 billion in 2019. That increase in sales shows the boost in the action figure market during the pandemic.

The global action figures market report would provide an access to approximately 69 market data tables, 64 figures and 170 pages