Growing Middle Class Families Coupled with Expansion of International Brands to Run the India STEM Toys Market

The India STEM toys market is expected to exhibit a rapid CAGR of 8.5% during the forecast period (2021-2027). The growing middle class, importance of education, and growing economy make India a lucrative market for STEM toys. Brands like LEGO, Mattel, Hamleys, and more have been expanding their business in India, in turn benefiting the toy market in the country. Despite the high rentals associated with organized stores and floor space in shopping malls, the major retail chains are indulging in the strategy of opening more outlets to outplay the competition posed by a huge network of unorganized retailers in the country. Standalone stores are considered more effective in reaching out to the audience. For instance, over the past few years, major players like Funskool has launched around 16 brand outlets in tier-II cities for pursuing expansion activities. The highly educated parents are involved in purchasing qualified and certified STEM toys of higher price points, thereby contributing to the growth of organized retail formats. Similarly, with more than 120 stores, Hamleys is a major chain in the country, followed by Toys “R” Us. However, the growth in online sites like Amazon and Flipkart has helped a long way in reaching smaller towns and cities where the online segment is also expected to pose an absolute growth of over 60% during the forecast period.

Browse the full report description India STEM Toys Market Size, Share & Trends Analysis Report by Age Group (0-3 Years, 3-8 Years, 8-12 Years, 12+ Years), by Category (Science, Technology, Engineering, and Mathematics), and by Distribution Channel (Online and Offline) Forecast Period (2021-2027) at https://www.omrglobal.com/industry-reports/india-stem-toys-market

Market Coverage

• Market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- by Age Group, Category, and Distribution Channel
• Country Covered- India
• Competitive Landscape- Hasbro, Inc.; LEGO System A/S; Mattel; Melissa & Doug; and Spin Master

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in base year?
• Which segment will project fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

India STEM Toys Market Report Segment

By Age Group 

• 0-3 Years
• 3-8 Years
• 8-12 Years
• 12+ Years

By Category

• Science
• Technology
• Engineering
• Mathematics

By Distribution Channel

• Online
• Offline