US Toys Market to Grow with Technological Advancement at the CAGR of 4.13%

Attractive packaging of the products offered is driving the growth of the United States toys market in the forecast period, 2023–2027.

According to TechSci Research report on, “United States Toys Market - By Region, Competition Forecast & Opportunities, 2027”, the United States toys market was valued at around USD22 billion in 2021 and is projected to grow at a CAGR of over 4.13% during the forecast period 2022–2027 owing to factors such as the rise in technology, which led to an increase in demand for educational toys and digital toys in the market.

The increasing adoption of connected devices in the educational sector has led to the advancement of smart toys. These toys aid in the development of children's cognitive and communication skills, which has increased their popularity and demand among customers.

Players in the market are introducing a wide range of smart toys to meet the growing demand for such toys in the United States, which improves students' cognitive skills and their academic and motor skills. Furthermore, the growing demand for smart toys is forcing traditional toy manufacturers to introduce products at significantly lower prices to stay competitive, resulting in market growth.

Browse over 21 market data Figures spread through 70 Pages and an in-depth TOC on "United States Toys Market"

https://www.techsciresearch.com/report/united-states-toys-market/8290.html

The United States toys market is segmented based on product type, distribution channel, region, top 10 leading states, and competitional landscape. In terms of product type, the market is further fragmented into outdoor and sport toys, dolls, vehicles, plush, and others which includes (action figures, construction toys, games & puzzles, etc.).

The Outdoor and Sports Toys segment is further sub-segmented into skates/scooters and skateboards, sports ball, and others which includes water toys, and pool floats, toy sports products, etc. Fashion dolls, baby dolls, and others which include miniature dolls, China dolls are segmented into dolls category.

Electronic and non-electronic vehicle toys come under the vehicle toys category. The plush segment includes stuffed animal toys, cartoon toys, and others which includes customizable stuffed toys, special soft doll, etc. Among these, Outdoor and Sports Toys accounted for the majority of the market share of around 22% in the United States toys market. The sports ball product category is projected to grow at a faster rate in the coming years.

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Based on distribution channels, the market is bifurcated into supermarkets/hypermarkets, specialty stores, online, and others (stationery stores, gift shops, kiosks, etc.). Among these, the online segment is the fastest-growing segment and will continue to be so in the forecast period. Some of the main factors driving the growth of online sales are an increase in the number of internet users, ease of access, availability 24 hours a day, seven days a week, and a variety of options.

Key market players in the United States Toys market include:

  • Mattel, Inc.,
  • The Lego Group
  • Hasbro, Inc.
  • Spin Master, Inc.
  • Funko, Inc.
  • Jakks Pacific, Inc.
  • VTech Holdings
  • Tomy Company, Ltd,
  • Manhattan Group, LLC
  • U.S. TOY Co., Inc.

The companies are expanding their portfolio through various mergers and acquisitions with different companies. Hasbro is a leading play and entertainment company committed to creating the world's best play and entertainment experiences. From toys, games, and consumer products to television, movies, digital gaming, live-action, music, and virtual reality experiences, Hasbro connects to audiences by bringing to life great innovations, stories, and brands across established and inventive platforms.

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“The United States is well known for offering a wide range of toys across the globe after China. Some of the most popular toy brands in American households include LEGO, Hot Wheels, and Fisher-Price, which are widely known for their toy categories. The rising popularity of the United States toy market is expected to gain large momentum in the forecast years with the rising demand at the global level.,” said Mr. Karan Chechi, Research Director with Tehsci Research, a research-based global management consulting firm.

“United States Toys Market By Product Type (Outdoor and Sports Toys, Dolls, Vehicles Toys, Plush Toys, Others (Action Figures, Construction Toys, Games & Puzzles, etc.)), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, Others (Stationery Stores, Gift Shops, Kiosks, etc.) By Region, By Leading States, Competition, Forecast & Opportunities, 2027”, has evaluated the future growth potential of the United States Toys Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States Toys market.

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