Market Reports on China Provides the Trending Market Research Report on “China Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” under Consumer Goods category. The report offers a collection of china market Trends, china market analysis, cihna business trends and china market size and growth.
The China Toys Market was worth US$ 12.0 Billion in 2017. The market is further projected to reach a value of US$ 22.5 Billion by 2023, exhibiting a CAGR of 11% during 2017-2023. China is one of the leading toy markets in the world and its potential growth has created a huge opportunity for domestic and international toy manufacturers. The demand for toys in China is changing from traditional and decorative toys to electronic or remote-controlled toys. With inflating income levels of urban dwellers and rising standards of living, a shift has been witnessed from conventional toys to innovative electronic and plush toys. Moreover, the recent relaxation of the one-child policy in China has also added a large number of new-borns to the population, thereby expanding the consumer base of the toys market.
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China Toys Market Drivers/Constraints:
The increasing domestic demand for toys in China is currently being catalysed by the country’s economic growth and rising disposable incomes. China has exhibited strong GDP growth rates for the last several decades and now represents the world’s second largest economy. Owing to this fact, the middle-class population is increasing in the region. People have more disposable incomes and their spending patterns have also changed. This has resulted in a transition from traditional, low-end battery-operated toys, towards innovative electronic toys, intelligent toys as well as high-end plush toys and decorative cloth toys.
The relaxation of the one-child policy in 2013 in favor of a two-child plan has brought an influx of newborns in China. In 2016, China implemented the two-child policy completely under the 13th Five-Year Plan (2016-2020). According to the Hong Kong Trade and Development Council, the two-child policy has resulted in adding 2.4 million newborns in China each year. This is expected to expand the consumer base for toys creating a positive impact on the market.
There are large variety of toys currently available in the toys market in China. The diverse product category ranges from traditional plush toys, construction and building toys, dolls, board games and puzzles to high-end electronic toys, educational toys, ride-ons, up-market plush toys and dolls. There are toys which are domestically produced by small, medium and large manufactures and also there are products from renowned international brands. Each toy category has inexpensive and high-end versions. This large product portfolio along with their varied price ranges are able to cater to the consumers from different incomes groups, thereby bolstering the market growth.
Online sales channels have recently witnessed a boom in China with the evolution of smartphones and other digital media. As the quality and features of products can be discussed among shoppers, and prices can be compared on various platforms, the online sales channels represents one of the fastest growing distribution channels for toys in China. Few of the major e-commerce platforms for toys are T-Mall, Taobao, jd.com etc. These online platforms provide an opportunity to international brands to open exclusive online stores and directly sell products to Chinese consumers without being physically present in the country. Evolution of these online sales channels has made various categories of products and brands easily accessible to consumers and catalyzed the growth of the market.
Product Type Insights:
On the basis of product type, plush toys are the most popular type of toys in China. Other major product types include infant/pre-school toys, activity toys, dolls, games and puzzles, construction and building toys, electronic/remote control toys, sports and outdoor play toys, ride-ons and others.
Based on the end-user, the report finds that unisex toys dominated the market. Unisex toys were followed by the girls’ and boys’ segments.
Distribution Channel Insights:
On the basis of distribution channel, the market has been segmented into specialty toy chain stores, supermarkets and hypermarkets, departmental stores and online. Currently, specialty toy chain stores represent the largest distribution channel as these stores have well established networks and offer a wide range of products.
Based on the province, Guangdong enjoys the leading position in the market. Other major provinces are Jiangsu, Shandong, Zhejiang and Henan.
The toy market in China consists of both local and international manufacturers. The report provides a list of the key manufacturers across all major product types.
This report provides a deep insight into the China toys market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the toys market in any manner.
Key Questions Answered in This Report:
How has the China toys market performed so far and how will it perform in the coming years?
Which are the popular product types in the China toys market?
What are the major distribution channels in the China toys market?
What are the major end-users in the China toys market?
What is the share of various provinces in the China toys market?
What are the various stages in the value chain of the China toys market?
What are the key driving factors and challenges in the China toys market?
What is the structure of the China toys market and who are the key players?
What is the degree of competition in the China toys market?
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