The Asia Pacific STEM toys market is anticipated to grow at the fastest CAGR of 8.0% during the forecast period. While China, Australia, Japan, and South Korea are the major markets for educational toys in the Asia Pacific region, countries such as India, Malaysia, and Indonesia are expected to witness growth in demand due to the improving quality of life in these countries and the strong demand created during the pandemic. The consumption of STEM toys in the Asia Pacific region is on the rise owing to the enormous population and increasing disposable incomes. The developed markets in Europe and North America are unable to keep pace with the growth of emerging markets in Asia Pacific, as markets in countries such as China and India are growing both in terms of consumption and purchasing power. For instance, China is expected to add 400 million consumers, whose annual income is more than $8,000. Similarly, India is expected to add 60 million households with an annual income of more than $6,000 by 2021. Higher disposable incomes mean not only an increased consumption but also imply a growing preference for differentiated and value-added products

The STEM toys market is segmented based on age group, category, and distribution channel. Based on the age group, the STEM toys market is segmented into 0-3 years, 3-8 years, 8-12 years, 12+ years. On the basis of category, the market is segmented into science, technology, engineering, and mathematics. On the basis of distribution channel, the market is fragmented into online and offline. Girls are the major end-users of toys in Indonesia, where the age group of 7-12 are significant revenue drivers. Electronics, construction blocks like LEGO is highly popular, along with a preference for Korean characters like Pororo and Tayo. The Indonesian parents prefer toys that are best in quality and safety, which is also driving the momentum for offline distribution channels.

Country-wise, the market is segmented into China, Japan, India, and the Rest of Asia Pacific. China is estimated to be the largest market for STEM toys in Asia Pacific, and is also one of the fastest markets. It is also regarded as one of the major suppliers and manufacturing hub for the educational toys market across the globe with its affordable production lines, employees and working environment. The toy market in the country is also shifting towards educational, scientific, electronic and remote control (RC) toys from decorative toys. The relaxation of the one-child policy in the country is eventually expanding the target group for the toys in the market where the two-child policy has resulted in adding approximately 2.39 million newborns in China every year. Further, factors such as urbanization, rising disposable income, growing middleclass population are supporting the toys and games market.

Research Methodology

The market study of the Asia Pacific STEM toys market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia Pacific STEM Toys Market Research and Analysis by Age Group 
2. Asia Pacific STEM Toys Market Research and Analysis by Category
3. Asia Pacific STEM Toys Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the Asia Pacific STEM toys market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia Pacific STEM toys market.
• Insights about market determinants which are stimulating the Asia Pacific STEM toys market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.