Global traditional toys and games market is anticipated to grow at a CAGR of 4.2% during the forecast period (2024–2031). The market growth is attributed for rising investments in traditional toys and games manufacturing to fulfill demand, especially in regions expected to create higher demand in the future such as North America, and Asia-Pacific. For instance, The LEGO Group announced a 33,850 m2 expansion at its Monterrey factory. The $500.0 million investment will enhance production capacity to suit long-term demand in the US and abroad. The extension includes a fully automated high-bay warehouse and a facility specialized in assembling and decorating LEGO goods, which will be finished in 2022. The multi-year project will also feature a new molding building, which is expected to open in late 2024 and contribute to a 50.0% increase in manufacturing capacity.
Browse the full report description of “Traditional Toys and Games Market Size, Share & Trends Analysis Report by Product Type (Outdoor and Sports Toys, Construction Sets, Dolls and Plush Toys, Vehicles, Stem Educational Toys, Action Figures, and Others). by Material (Plastic, Metal, Textile, and Wood). by Distribution Channel (Hypermarkets/Supermarkets, Specialty Retail Stores, and Online Marketplaces). and by Age Group (0-1 year, 2-4 year, 5-8 years, and 9-14 Years). Forecast Period (2024-2031).” at https://www.omrglobal.com/industry-reports/traditional-toys-and-games-market
Moreover, the investments are majorly focused towards developing regions, wherein the income and customer base are steadily increasing, and stimulating manufacturers to increase capacity. For instance, in December 2022, Mattel Malaysia Sdn. Bhd. announced its plant expansion to be completed by 2023. MMSB, the world's largest Hot Wheels production company, is also the exclusive manufacturer of Hot Wheels singles, the best-selling toy worldwide in 2021. The plant's current average output capacity is around 9.0 million automobiles per week. This targeted, strategic investment aligns with Mattel's Capital Light strategy, which aims to boost manufacturing capacity, productivity, and technical capabilities while lowering costs and improving operating efficiencies. The plant extension will help Hot Wheels grow, with a projected 20.0% increase in production capacity by 2025.
Market Coverage
• The market number available for 2023-2031
• Base year: 2023
• Forecast period: 2024-2031
• Segment Covered-
o By Product type
o By Material
o By Distribution Channel
o By Age Group
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- LEGO System A/S, Woodfield Baby Products Co. Ltd, Mattel, Inc., Hasbro, Inc., and MGA Entertainment, Inc., among others.
Key questions addressed by the report
Global Traditional Toys and Games Market Report Segment
By Product type
By Material
By Distribution Chanel
By Age Group
Global Traditional Toys and Games Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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