Wooden Toys Market
Transparency Market Research delivers key insights on the global wooden toys market. In terms of revenue, the global wooden toys market is estimated to expand at a CAGR of 3.4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global wooden toys market.
Companies are investing in R&D to launch an exclusive collection of wooden toys. Manufacturers are expanding their product lines to meet the increasing demand for wooden toys. Moreover, growing popularity of wooden toys due to the harmful effects of chemicals used in plastic toys is expected to boost the market during the forecast period.
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Wooden Toys Market: Key Segments
In terms of product type, construction toys and educational toys are expected to lead the global market. The toy industry as a whole experienced substantial growth during COVID-19 due to need for entertainment at home. Educational toys bring joy, comfort, and teaches to cope with challenges, while construction toys help in the development of motor skills, problem solving, hand eye coordination, etc. All these factors are increasing the demand for construction toys and educational toys.
Based on wood type, hardwood is projected to lead the global market in terms of value & volume during the forecast period and is likely to maintain its dominance during the forecast period. Hardwood, when compared with softwood possesses more strength, durability, texture, patterns, and colors, and hence, better quality toys are cut out from hardwood. Thus, the market for hardwood toys is expected to expand at a higher growth rate during the forecast period.
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In terms of age segment, age group 1 to 10 is the largest consumer of wooden toys, as there are multiple options available in different products types. Learning through play is crucial in a child’s development. Children start benefiting from toys at an early age; hence, demand for toys for all age groups is increasing and is expected to increase during the forecast period.
In terms of distribution channel, the offline segment is anticipated to dominate the wooden toys market, while the online segment is expected to expand at a higher CAGR. The 2020 saw a boost in online sales due to restrictions imposed by governments around the world. Convenience and availability of products through online channels is likely to drive the segment during the forecast period.
Wooden Toys Market: Prominent Regions
Asia Pacific dominated the wooden toys market and in terms of country, the U.S. holds the dominating position. The expenditure on toys by parents increased 6% since 2015 in North America and Asia Pacific, which are the top regions in the wooden toys market. The Toy Fair 2020 had more wooden toys than ever. This indicates that demand for wooden toys is increasing globally. Europe is a prominent region for wooden toys due to consumer inclination toward sustainable and environment-friendly products. MEA and South America are expected to observe growth in the market as these regions have increased their spending on toys recently.
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Wooden Toys Market: Key Players
Key players operating in the global wooden toys market are Le Toy Van, Inc., Classic World, GENI, Hape
Wood Trick, Legler, Goki-Gollnest & Kiesel GmbH & Co. KG, Yunhe Kidmerry Toys Co., Ltd., HABA USA, Plan Toys, Wooden Story, Janod, Vilac, Melissa & Doug, Dusyma, Joguines GRAPAT, Aero-Motion, Inc., Auldon toys, Papa Don's Toys, Moon Picnic, ANDREU Toys, FactAndFictionToys, and Erzi.
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers Market Analysis Reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
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