Toys & Games Market To Witness A Significant Growth Of USD 139.2 Billion By 2025
Posted by neha24 on August 20th, 2020
San Francisco, 20 Aug 2020: The Report Toys & Games Market Size, Share & Trends Analysis Report By Application, By Product (Outdoor/Sports, Video Games), By Distribution Channel, And Segment Forecasts, 2019 - 2025
The global toys and games market size is expected to reach USD 139.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% over the forecast period. Rising number of online gaming tournaments across the globe is the key factor for the market growth over the forecast period. Over the past few years, increasing demand for in-licensing activities is booting the growth of market.
Growing demand for eco-friendly toys is also anticipated to increase the demand for the product in the upcoming years. Cardboard, organic cotton, and wood are the popular raw materials for the production of eco-friendly products. For instance, Green Toys are made from the recycled plastic milk bottles. The company has collaborated with Walmart, one of the largest retail chains of the world, for the distribution of the products.
Increasing participants of e-sports has also been a factor driving the market. For instance, in September 2018, Sony has launchedPlayStation Classic, an updated version of original Play station that comes with 20 preloaded games. This is expected to expand the consumer base of the market. Furthermore, innovative games such as PUBG and FIFA are gaining significant popularity among the adult players.
Asia Pacific is expected to witness expand at a CAGR of 5.1% from 2019 to 2025. Rapid expansion of ecommerce, along with increasing brand retail outlets, has been fueling the sales of the product in this region. North America held the largest market share in 2018, followed by Europe.
Access Research Report of Toys & Games Market @ https://www.grandviewresearch.com/industry-analysis/toys-games-market
Toys & Games Market Report Highlights
Also See: Games Market, Forecast Period, Video Games, Usd 139, Market, Games, Toys
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