The Europe Toys and Games Market would witness market growth of 5.5% CAGR during the forecast period (2021-2027).
The rising interest of parents in green toys, growing awareness of the cognitive benefits of building toys, the rapid expansion of mobile-based gaming, and the revival of traditional toys and video games are aspects that are witnessed to escalate the growth of the market. Furthermore, the toys and games market is projected to be fueled by the rising popularity of conventional recreational activities in younger and infant children. Besides, the growing interest of the younger generation towards old-school games at social gatherings is liable to accelerate the expansion of the market. The growing rate of revived retro games is anticipated to fuel the growth of the toys and games market during the forecasting period.
Organizations are vigorously shifting their product offerings by introducing e-stores and retailing products via e-commerce platforms, like Walmart Online, eBay, and Amazon. These online platforms have become an alternative for physical sales and marketing and are also cost-efficient and feasible.
Europe is witnessing an increase in the growth of the toys and games market, owing to the upsurge in the activity toys and accessories segment. This segment comprises action figures, toys, activity toys, and accessories. The factors having a positive impact on the activity toys and accessories segment in this region are the growing disposable incomes, increasing birth rates, declining child mortality rates, and expansion of the middle-class population.
In addition, the manufacturing of eco-friendly toys is one of the prominent factors fueling the growth of the toys and games market in Europe. Parents are now more concerned about several safety and health issues related to raw materials utilized in the manufacturing of toys. This increasing concern of parents and educators has led to accelerating the popularity of eco-friendly toys. Additionally, market vendors are encouraged to offer sustainable products and slowly change their focus on the manufacturing of traditional toys to eco-friendly toys. For example, 4M Industrial Development Limited is manufacturing eco-friendly toys while avoiding the usage of tapes, glue, and screws.
The Germany market dominated the Europe Games and Puzzles Market by Country 2020, thereby, achieving a market value of $2,872.5 million by 2027. The UK market is exhibiting a CAGR of 6.3% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 9% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Product Type, the market is segmented into Electronic Games, Outdoor & Sports, Games and Puzzles, Dolls, Preschool Toys and Others. Based on End User, the market is segmented into 0-8 Age, 9-15 Age and 15 Age & above. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Toys and Games Market Size will Hit $469 Billion by 2027, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Sony Corporation (Sony Interactive Entertainment LLC), VTech Holdings Limited, NetEase, Inc., LEGO Group (KIRKBI A/S), Dream International Limited, Nintendo Co., Ltd., Mattel, Inc., JAKKS Pacific, Inc. and Playmates Toys Limited (Playmates Holdings Ltd.).
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