Board Games Market Analysis, Demand Growth, Current Trends
Posted by surendra choudhary on February 4th, 2021
Board Games Market - Introduction
Board games refer to games played using a board where small objects, counters, or pieces are moved and placed over the tabletop or board. These games also include dice and card games. Strategy and skills are required to play dice games, cards, chess, backgammon, and other games. Mainly kids and youth play board games for learning and recreational purposes. Board games improve team building skills and facilitate active learning and problem-solving skills.
Board Games Market – Competitive Landscape
Founded in 1995, Asmodee Editions has its headquarters in Roseville, Minnesota, the U.S. The company has established itself in publishing card games, board games, and role-playing games. Asmodee Editions develop its own games publishes and delivers for other smaller game developers. The company has acquired numerous other board game publishers. In 2018, it acquired Polish games publisher Rebel, and European distributor ACD Blackfire Entertainment. Asmodee North America implements a Minimum Advertised Price (MAP) policy for its products on its sales channels.
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Incorporated in 1923, Hasbro is based in Pawtucket, Rhode Island, the U.S. The company specializes in designing and manufacturing all types of toy and board games. Hasbro has a global presence and sells its products under several brands such as Nerf, Transformers, My Little Pony, Play-Doh, Monopoly, Hasbro Gaming, Baby Alive, Marvel, Furreal, Lost Kitties, Lock Stars, Dohvinci, Star Wars, Disney Frozen, Disney Princess, Playskool, Playskool Heroes, Taboo, Game Of Life, and Marvel Spider Man.
Ravensburger AG, with experience of over 136 years and based in Ravensburg, Germany, is a manufacturer and supplier of games and toys. The company has subsidiaries such as Brio, FX Schmid GmbH & Co. KG, Ravensburger North America, Inc., and Ravensburger Spieleverlag Gmbh. It has presence globally in Austria, Belgium, Spain, France, Italy, Netherlands, Switzerland, U.K., U.S., Canada, the Czech Republic, Russian Federation, and many other countries.
Major companies operating in the global board games market include Asmodee Editions, Buffalo Games, Cartamundi Asia Pacific, CMON.COM, Grey Fox Games, Hasbro, IELLO USA LLC, Korea Boardgames, Co., Ltd., NECA/WizKids LLC (WizKids), Ravensburger AG, VFI: Asia Pacific, Lifestyle Boardgames Ltd, Goliath Games, Grand Prix International, and Mattel. The overall market is moderately fragmented. These players are focusing on future capacities, new product launches, financial overview, key mergers & acquisitions, collaborations, partnerships, and innovative product developments. Most vendors sell and promote their board games through their own online sales websites and via e-tailer websites.
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Board Games Market – Dynamics
Rising Popularity of Broad Games
Increasing popularity of board games due to growing number of games bars and cafés all over the world is boosting the market growth. Rising count of teenagers and adults interested in strategy and war based games is expected to stimulate the growth of the board games market in the coming years. Furthermore, rising trend of playschool activities and executing these activities in education institutions are expected to increase the demand for board games.
Board Games Market – Restraint
Threat from Substitute Gaming Platforms
The rising threat from substitute gaming platforms is anticipated to obstruct the growth of the board games market in the coming years. Growing penetration of mobile phones has seen the development of countless mobile based games. Moreover, technological advances empower these applications to offer immersive experiences and superior engagement. On the other hand, rising labor costs, counterfeit board games, and instability of raw materials are projected to hinder the growth of the board games market during the forecast years.
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About the Authorsurendra choudhary
Joined: February 12th, 2019
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