Research Support Specialist, USA
The global dolls and stuffed toys market size is expected to reach USD 32.87 billion by 2028, registering a CAGR of 3.1% over the forecast period, according to a new report by Million Insights. Growing penetration of stuffed toys and dolls and rising demand from targeted consumers will drive the market growth 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.
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.
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.
The report “Dolls And Stuffed Toys Market Size, Share & Trend Analysis Report By Type (Cartoon Toys, Stuffed Animals), By Distribution Channel (Offline, Online), By Region (North America, APAC), And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global dolls and stuffed toys market on the basis of type, distribution channel, and region:
List of Key Players of Dolls and Stuffed Toys Market