Global Construction Toys Market 2024-2031

Global Construction Toys Market 2024-2031

Construction Toys Market Size, Share & Trends Analysis by Product (Bricks & Blocks, Tinker Toy, and Others), by Material (Wood, Polymer, Metal, and Others), by Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online, and Others) Forecast Period (2024-2031)

Construction toys market is anticipated to grow at a CAGR of 12.2% during the forecast period (2024-2031). Construction toys are a creative and educational platform that encourages open-ended play, allowing children to use their imagination and creativity to build structures using various components. These toys often inspire imaginative play scenarios, such as building castles, spaceships, or racetracks. The process of building and creating with construction toys offers numerous learning opportunities, such as problem-solving, spatial reasoning, fine motor skills, and basic engineering principles.

Market Dynamics

Growing focus on cognitive development

Construction toys promote problem-solving skills, spatial reasoning, and creativity. These toys encourage children to experiment, design, and build, fostering cognitive development. The growing focus of parents on the cognitive development of their child with construction toys is a key factor driving the growth of the global construction toys market.

In March 2023, PlayMonster Group LLC and Hasbro Inc. jointly declared that PlayMonster would be integrating the entire Playskool brand into its diverse portfolio in 2024. This strategic move was a pivotal aspect of PlayMonster's comprehensive global growth strategy, aimed at delivering innovative and reimagined classic play experiences to preschoolers and their families worldwide.

Growing availability on E-commerce platforms

The convenience of online shopping allows parents to easily browse and purchase construction toys from a wide range of brands and retailers. This online accessibility contributes to market growth. According to the YouGov survey conducted in 2022, nearly two in five parents from the Asia-Pacific region, comprising 45%, indicate that they are more likely to purchase toys and games online.

Market Segmentation

Our in-depth analysis of the global construction toys market includes the following segments by product, material, and distribution channel:

Based on product, the market is segmented into bricks & blocks, tinker toys, and others including vehicle toys, and puzzles.

Based on material, the market is segmented into wood, polymer, metal, and others including foam.

Based on the distribution channel, the market is segmented into hypermarkets & supermarkets, specialty stores, online, and other include retailers.

Bricks and Blocks is Projected to Emerge as the Largest Segment

The Bricks and Blocks sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment includes a versatile and open-ended play format that fosters creativity, problem-solving, and independent thinking. They cater to a wide age range, with simple sets suitable for toddlers and complex sets for older children.

Online Sub-segment to Exhibit the Highest CAGR

Online platform sales have increased due to its convenience, accessibility, and wider product range. The online sales channel has the strongest potential for the fastest growth in the construction toy market, driven by the increasing adoption of online shopping and omnichannel retail.

Regional Outlook

The global construction toys market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Anticipated to Exhibit the Highest CAGR

The growing emphasis of parents on early childhood education, STEM education initiatives, and cultural factors are driving the regional market growth. China is one of the major manufacturers of construction toys. The presence of several manufacturers across the region with the growing popularity of licensed products is further aiding the regional market growth. The region's growing disposable income allows families to allocate more budget towards non-essential items like construction toys.

Market Players Outlook

The major companies serving the global construction toys market include The LEGO Group, Mattel, Inc., Spin Master Ltd., Hasbro Inc., and Learning Resources, Inc. among others. The market players are increasingly focusing on business expansion and DEPLOYMENT development by applying strategies such as collaborations, mergers and acquisitions, and product launches to stay competitive in the marketplace. For instance, in July 2022, Mattel partnered with SpaceX to develop a line of toys and collectibles aimed at sparking children's interest in space exploration. The product line featured figures, plush toys, and building sets. This collaboration is built on Mattel's past work with Elon Musk on remote-controlled cars.