A key factor driving the growth of the market is the increased focus of parents on overall childhood development. Children, nowadays, are getting addicted to computers, TVs, and cell phones. Therefore, parents are looking for ways to engage them in different physical activities. This has led to an increase in demand for toys, including construction toys that can help in the mental, physical, and intellectual development of children. Construction toys help the children engage in physical and mental activities, thereby improving their imagination and social skills. Construction toys help the child in nurturing their creativity and developing positive self-esteem. Vendors are introducing many innovative construction toys for kids such as building blocks, construction vehicle model toys, and city building toys, thereby driving the growth of the market.
As per Technavio, the introduction of eco-friendly toys will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global construction toys market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global construction toys market: Introduction of eco-friendly toys
The growing demand for toys has also raised various safety and health issues associated with the raw materials used in construction toys. Therefore, parents and educators are opting for toys made of eco-friendly materials, which are generally called green toys. Vendors are increasingly focusing on the development of sustainable products. The continuous shift in consumers’ preference for green toys is one of the major factors prompting the vendors to introduce eco-friendly toys. Therefore, vendors across the globe are gradually shifting from traditional toys manufacturing to eco-friendly toys manufacturing process, thereby driving the demand during the forecast period.
“Apart from the introduction of eco-friendly toys, the increasing popularity of toys as gifts, especially during festivals and occasions is another major aspect that is driving the growth of the market. To cater to the growing demand, vendors are offering products that are specific to festivals and occasions in various regions. This is attributed to design improvements, efficient ordering processes, and smooth delivery processes. Such practices will fuel the up-selling and cross-selling of toys among retailers,” says a senior analyst at Technavio.
Global construction toys market: Segmentation analysis
This market research report segments the global construction toys market by distribution channel (online and offline) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, the APAC region is expected to continue dominating the global market as well as register the highest incremental growth due to the rising demand for premium and branded construction toys in the region.
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Five Forces Analysis
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