LONDON--(BUSINESS WIRE)--Technavio analysts forecast the toys market in Europe to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.
The adoption of STEAM toys for children’s skills enhancement is one of the major trends being witnessed in the toys market in Europe 2018-2022. The STEAM toys are one of the fastest-growing categories in both the global toys market and the toys market in Europe. These toys are designed to teach coding, logical skills, analytical skills, language, and advanced scientific and mathematical concepts. With such advantages associated with these toys, the market is expected to showcase a positive outlook during the forecast period.
According to Technavio analysts, one of the key factors contributing to the growth of the toys market in Europe is the increasing frequency of product launches with innovative features:
Toys Market in Europe: Increasing Frequency of Product Launches with Innovative Features
The market competitors are catering to the growing demand for toys by launching different variants that incorporate modern technologies and are interactive and educational. For instance, competitors like Hasbro, Mattel, and The LEGO Group are designing toys that encourage STEAM skills. These are technologically advanced toys with interactive features. Market players are also upgrading conventional toys with improved features. Therefore, all these factors are expected to boost market growth during the forecast period.
According to a senior analyst at Technavio for research on leisure products, “The increase in a number of pre-schools is one other factor that is expected to boost the market growth. Apart from engaging the children in studying and physical activities, children also get to learn to recognize animals, fruits, and sing rhymes through different types of toys. Hence, the increase in number of pre-schools will lead to volume growth of toys, thus driving market growth in Europe.”
Toys Market in Europe: Segmentation Analysis
The global toys market in Europe market research report provides market segmentation by product (games and puzzle toys, infant and preschool toys, construction or activity toys, soft or plush toys, dolls and accessories, outdoor and sports toys, and other toys) and region (France, Germany, Italy, the UK, and ROE). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Geographically, the UK held the largest share of 19% in 2017, followed by France, Germany, Italy, and ROE. Although Italy held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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