Published Date: 30-Sep-2022
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According to a new report, published by KBV research, The Global Construction Toys Market size is expected to reach $18.1 billion by 2028, rising at a market growth of 6.5% CAGR during the forecast period.
The Polymer market is leading the Global Construction Toys Market by Material in 2021; thereby, achieving a market value of $7.0 billion by 2028. Due to its exceptional flexibility and hardness, Polypropylene (PP), a type of polymer, is one of those that are being used more and more in the market for building toys. Different thermoplastics are projected to gain popularity as construction toys become more popular due to their lightweight nature, vibrant colors, and high strength.
The Online market is poised to grow at a CAGR of 6.8% during (2022 - 2028). This can be linked to the increasing worldwide use and popularity of e-commerce platforms. Additionally, many shops provide significant Christmas and New Year discounts, which reduce the cost of making purchases online. Furthermore, because of the increased accessibility of goods among customers, working-class parents find it more convenient to shop online than in person.
The Bricks & Blocks market has acquired maximum revenue in the Global Construction Toys Market by Product in 2021; thereby, achieving a market value of $10.3 billion by 2028. The segment's consistent rise can be due to consumers' growing preference for toys that keep kids entertained for extended periods of time. Additionally, the makers have been updating the toy sets with updated designs, simulating actual events, and raising awareness among children which is attracting the parents to buy such toys for their child.
The North America market dominated the Global Construction Toys Market by Region in 2021; thereby, achieving a market value of $6.3 billion by 2028. The Europe market is experiencing a CAGR of 6% during (2022 - 2028). Additionally, The Asia Pacific market is exhibiting a CAGR of 6.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hasbro, Inc., Mattel, Inc., Spin Master Corp., LEGO Group (KIRKBI A/S), Ravensburger AG, Magformers LLC, PlayMonster LLC, Bandai Namco Holdings, Inc., Rockaway Records Ltd., Basic Fun, Inc.
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