The global dolls and stuffed toys market size was valued at USD 25.77 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.1% from 2021 to 2028. The growing penetration of dolls & stuffed toys and rising demand from targeted consumers will drive the market. Furthermore, rising disposable income coupled with increased spending by parents on kids’ toys propels the market growth. The touch and comfort of soft toys tend to be very interesting for children, which leads to the growing demand for stuffed toys. Social media’s growing penetration is also among the major factors driving the market growth. Popular characters from animated movies, serials, and YouTube channels have surged the demand for action figures and stuffed toys. Furthermore, action heroes and superheroes are popular among children and thus, a replica of these into stuffed toys further boosts the sales.
Collaborations of popular action movie makers like Marvel Studios, DC Comics, and Disney Studios with toys manufacturers further open new growth opportunities. However, changing demand over popular characters may hamper the market growth to some extent. Expansion of previously popular products, as well as new product developments with current trend from top companies, will provide a wide variety of options to the consumers. Sustainable and eco-friendly toys have a high demand in the global market. Barbie, teddy bears, dogs, elephants, and dears are some of the popular stuffed toys. FunKo Inc., a Washington-based toys company, launched pop culture celebrity toys, which have a high demand.
The global COVID-19 pandemic had a positive impact on some markets including the dolls & stuffed toys market as many countries were under lockdown resulting in closed schools & sporting activities at grounds and canceled family tours & picnics. Thus, to keep kids busy and occupied while parents working from home, stuffed toys and dolls witnessed a surge in demand at the global level. Product sales through retail stores were decreased while online demand was high during the pandemic. As things get normal, it is expected that the market will witness steady growth with a slight reduction in demand in the global market.
The offline channel dominated the global market in 2020 with more than 59% revenue share. It is estimated to expand further at a steady CAGR over the forecast period. The global market is highly unorganized and sales of toys through these channels hold a larger market share. Investments from top manufacturing companies in dedicated retail stores fuel the segment growth. Consumer preference for the look and feel of the actual product before buying further boost sales through offline channels.
The online segment is forecast to register the fastest CAGR of more than 3% from 2021 to 2028. Growing digitization positively influences the segment growth. Factors, such as the availability of the majority of top brands on e-commerce platforms, consumers’ inclination for online shopping, and benefits like discounts on product prices, home delivery, etc. offered by online platforms, will further propel the segment growth.
The dolls segment accounted for the largest revenue share of more than 43.5% in 2020 and is estimated to grow further at a substantial growth rate during the forecast period. The introduction of new products by manufacturers is also driving the market growth. Playing with toys and dolls helps improve children’s imagination, social skills, and sense of responsibility.
Cartoon toys are expected to be the fastest-growing type segment from 2021 to 2028. Growing digitization and increased social media penetration are offering growth opportunities in the cartoon toys market. Cartoon characters are highly popular among children. Tie-ups of cartoon makers with toy manufacturers further propels the segment growth.
North America accounted for the largest revenue share of more than 35% in 2020 and is estimated to expand further at a substantial growth rate during the forecast period. A large target population base, the presence of top manufacturers, and the high purchasing power of consumers in this region are expected to drive the market during the forecast years. Increased influence of movies, cartoons, and animated characters, as well as pop culture characters, has also augmented the product demand in this region.
Asia Pacific is estimated to be the fastest-growing regional market from 2021 to 2028. China and India have the largest target population and thus, highly contribute to the regional market share. Rising disposable income levels, increased spending on toys, the presence of top brands, and growing investments from key manufactures are also projected to augment the market growth in APAC.
The market is highly fragmented with the presence of several local and global companies. Key companies are adopting various marketing strategies to capture a higher market share. New product developments with technological advancements, mergers & acquisitions, expansion of distribution channels, new launches at festive seasons, and discount offerings are the key strategies adopted by industry participants. Some of the key players operating in the global dolls and stuffed toys market include:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 26.49 billion |
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Revenue forecast in 2028 |
USD 32.87 billion |
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Growth rate |
CAGR of 3.1% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, distribution channel, and region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Canada; Germany; U.K.; France; Russia; Italy; China; Japan; India; Brazil; Argentina; South Africa; Saudi Arabia |
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Key companies profiled |
Lego; Bandai Namco Holdings; Hasbro, Inc.; Mattel, Inc.; Spin Master; Tomy Company; Rastar Group; Simba-Dickie Group; Melissa & Doug, LLC; Funko, Inc.; Steiff; MGA Entertainment; Jakks Pacific, Inc.; Just Play Products |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global dolls and stuffed toys market report on the basis of type, distribution channel, and region:
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