Indian Toys Market 2023-2028, Industry Report and Forecast

According to the latest report by IMARC Group, titled “Indian Toys Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028,” the toy market size in India 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 objects or miniature playthings widely used by children and infants for playing or amusement purposes. They are produced from various materials, including clay, metals, wood, cloth, and plastic and are considered a significant part of children's lives, as they provide fun, teach numerous life skills, and help with the overall brain development. Additionally, they are also designed to help to learn physical skills, such as learning to walk and grab objects, aid in developing hand-eye coordination, teach cause and effect, and enhance problem-solving, imagination and creativity skills. Some of the popular toys available in the market include rattles, teethers, soft blocks sorters and stacking blocks, and dolls and action figures. 

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Competitive Landscape with Key Players:

• Funskool
• Lego
• Mattel
• Hasbro

Also, Read the Full Blog toy manufacturing companies in India: 

Industry Growth:

The market in India is majorly driven by the growing awareness regarding the benefits of toys among parents. Coupled with the rising consciousness regarding the improvement of concentration and creativity skills, intelligence quotient (IQ) and logical and spatial reasoning powers are also significantly supporting the sales of toys across the country. Due to the wide availability of toys in numerous colors, shapes, and sizes, and their adoption across play schools and homes to enable overall child development, is impacting the market. Moreover, the rapid expansion of organized distribution channels and the emerging e-commerce industry that offer doorstep delivery, discounts, and secured payment methods, are contributing to the market favorably.

Apart from this, the penetration of high-speed internet connectivity and the growing usage of social media among individuals are positively influencing the market. With the advent of modern and hi-tech electronic toys, such as interactive robots, augmented reality games, and interactive devices, the demand for toys is increasing among the masses. In line with this, the rising demand for sensory toys for kids with special needs, coupled with the introduction of sustainable and eco-friendly toys, is acting as another growth-inducing factor. Furthermore, the development of aggressive marketing strategies, celebrity endorsements and innovative packaging solutions, is creating a positive market outlook. Some of the other factors driving the market include rapid urbanization and inflating disposable income levels of individuals. 

Key Market Segmentation:

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 

Breakup by Gender:

• Unisex Toys 
• Toys for Boys 
• Toys for Girls 

Breakup by Distribution Channel:

• Specialty Stores
• Supermarkets and Hypermarkets
• Online
• Others

Breakup by Distribution Channel:

• Specialty Stores 
• Supermarkets and Hypermarkets 
• Online 
• Others  

Breakup by Regional Insights:

• Maharashtra 
• Tamil Nadu 
• Karnataka 
• Gujarat 
• Delhi 
• Others

Key highlights of the Report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.