Indian Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Indian Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The Indian toys market size 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 miniature playthings that help shape the thought process and decision-making ability of infants and young children. They are made from various materials, including cloth, clay, plastic, metals, and wood. They include dolls, puzzles, cards, action figurines, board games, rattles, construction and building toys, kitchen sets, and mechanical cars. They help improve intelligence quotient (IQ), concentration and creativity and promote logical and spatial reasoning skills. Besides this, they assist children in improving social interaction and communication. At present, toys are available in various shapes, colors, and sizes and are extensively used in homes and play schools to facilitate overall child development across India.

Indian Toys Market Trends:
The increasing population of India represents one of the key factors catalyzing the demand for toys. In addition, inflating income levels and the rising awareness among individuals about the benefits of toys in improving the cognitive capabilities of children are positively influencing the market in the country. Apart from this, a shifting preference from conventional toys towards modern and hi-tech electronic toys is strengthening the market growth. In line with this, the escalating demand for sensory toys for kids with special needs is driving the market in India. Furthermore, the advent of advanced technology and machinery is encouraging manufacturers to produce innovative toys, which, in turn, is creating a positive market outlook. Moreover, the expansion of organized distribution channels, along with the proliferation of the e-commerce industry that provides doorstep delivery, exciting offers, and secured payment methods, is offering a favorable market outlook in the country. Additionally, the rising sales of smartphones, laptops, and personal computers (PCs), along with the increasing influence of social media, are propelling market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Indian toys market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on toy type, gender and distribution channel.

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

Infant/pre-school toys currently dominate the market as they help develop problem-solving and motor skills and hand-eye coordination among children.

Breakup by Gender:

Unisex Toys
Toys for Boys
Toys for Girls

Unisex toys account for the majority of the market share as they can be enjoyed by siblings, playmates, and family members.

Breakup by Distribution Channel:

Specialty Stores
Supermarkets and Hypermarkets
Online
Others

On the basis of the distribution channel, the market has been segmented into specialty stores, supermarkets and hypermarkets, online, and others.

Regional Insights:

Maharashtra
Tamil Nadu
Karnataka
Gujarat
Delhi
Others

Maharashtra enjoys the leading position in the market due to the presence of various toy manufacturers in the state.

Competitive Landscape:
Some of the leading key players in the Indian toys industry are:

Funskool
Lego
Mattel
Hasbro

This report provides a deep insight into the Indian toys market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the toys market in any manner.

Key Questions Answered in This Report

1. What was the size of the Indian toys market in 2022?
2. What is the expected growth rate of the Indian toys market during 2023-2028?
3. What are the key factors driving the Indian toys market?
4. What has been the impact of COVID-19 on the Indian toys market?
5. What is the breakup of the Indian toys market based on the toy type?
6. What is the breakup of the Indian toys market based on the gender?
7. What are the key regions in the Indian toys market?
8. Who are the key players/companies in the Indian toys market?