India Toys Market Size and Forecast (2018-2028) - Analysis By Player Type, Toy Category, Product Segmentation and Distribution Channel

Overview

India Toy Market Size

The Indian toys market, deeply rooted in Indian culture and heritage, has evolved significantly. Driven by technological advancements and shifting market demands, the nature and methods of play have transformed. The COVID-19 pandemic posed a major supply chain disruption in 2020, yet also acted as a turning point for the sector. With governmental support, the industry managed to reduce imports by 70%, giving the Indian toy market a boost.

In recent years, the market has witnessed notable innovations, including the introduction of new toy categories and improved designs. As a result, the India toys market has grown consistently at an annual rate of 10-15%, reflecting a steady expansion. Key drivers of this growth include a rising consumer base, an increasing focus on educational toys, evolving parenting styles, and India’s protective trade policies.

Market Segmentation Performance

Type of Players: The India toys market, historically fragmented and regionally diverse, remains largely unorganized due to the industry's relatively modest size compared to population and income levels. However, with heightened government focus, more organized players are entering the scene. Even smaller companies are scaling their operations, gradually transitioning to an organized framework.

Type of Toys: The Indian toy market is dominated by wheeled toys, video games, electronic toys, plush, and plastic toys. Wheeled toys hold a significant market share. Major toy exports from India include recreational toys, doll carriages, puzzles, and wheeled toys, reflecting India's growing presence in the global toy market.

Product Segmentation: Plush toys and dolls account for the largest market share, followed by electronic and activity toys. There is a noticeable shift in consumer spending towards battery-operated and innovative electronic toys, highlighting a departure from traditional preferences.

Distribution Channels: Specialty toy stores constitute the primary sales channel, followed by general merchandise and discount stores, online retail stores, hypermarkets, and supermarkets. In India, smaller toy shops meet the needs of the general population, while branded outlets like Fisher-Price, Hamleys, Funskool, and FunCorp cater to higher-income groups.

This steady growth reflects the resilience and adaptability of the Indian toy industry, as it continues to make strides in the domestic and international markets, balancing traditional values with modern consumer expectations.

India Toys Market Future Outlook

In the coming years, toys are set to become a significant contributor to India’s export sector. With strong demand from regions like Europe and North America, India is well-positioned to become one of the leading exporters in the global toys market.

Driving Factors

The expansion of the India toys market is largely fueled by the growth of the middle class, which plays a major role in consumer trends. With the retail sector booming and the middle class increasingly viewing toys as both entertainment and educational tools, the Indian toy industry is expected to grow at a steady rate of 11-15% annually.

Internet retailing is emerging as a crucial distribution channel within the India toy market. Online shopping offers consumers greater access to variety, new launches, and branded toys. While online sales currently account for just 8% of the toys market in India, this segment is growing quickly and is anticipated to drive a significant portion of demand in the coming years.

In 2023, the India toys market is expected to experience moderate growth, spurred by a young and expanding population, rising disposable incomes, and a continuous flow of innovations aimed at younger demographics. Every major toy category, from electronic toys and puzzles to construction toys, dolls, ride-ons, sports, outdoor play toys, infant and preschool toys, and activity toys, is projected to benefit from these growth opportunities.

Makreo Research has published a study on Toy Market titled, “India Toys Market Size and Forecast (2018-2028) ”. Market assessment has been carried out using qualitative and quantitative methods which suggests our well-rounded approach to analysis. This provides readers with a more complete understanding of the Toy Market in India, including its past and present performance, as well as potential growth opportunities in the future.

The study's assessment of the pre and post-COVID scenarios is also particularly noteworthy, as the pandemic has had a significant impact on the Toy industry as a whole, the industry turned on its head as it grew to become a net foreign exchange earner. Covid-19 became a blessing in disguise in combination with rising governmental support for the dwindling toy industry. The future outlook has been assessed while keeping various influencing factors into consideration and also to assess the expected opportunities in the market. Overall, this study could be a valuable resource for anyone interested in understanding the Toy market in India and its potential for growth in the future.

Segmentation Covered:-

• By Type of Player: Organized & Unorganized.
• By Type of Product: Wheeled Toys, Video Games & Other Electronic Toys, and Plush & Plastic Toys.
• By Product Segmentation: Plush Toys & Dolls, Electronic Toys, Board Games & Puzzles, Construction Games, Activity Toys, Ride-on Toys, Outdoor Toys, Others.
• By Distribution Channel: Toys Specialty Stores, General Merchandise & Discount Stores, Hypermarkets & Supermarkets, Online Retail Stores and Others.
   

Companies Discussed in the Report:-

• Funskool
• Brainsmith
• Buddyz
• Clever Cubes
• Shinsei
• FunCorp.in
• The Story Merchants 
• Win Magic Toys
• Masoom Playmates
• Triple Ess Toys
• Khanna Toys
• Aditi Toys
• FunRide Toys
• Peacock Toys
• Skoodle
• Hamleys
   

Key Questions Answered:-

1. What is the present performance of India Toy Market and at what rate it is growing?
2. What is the average expenditure on Toys and what is the average price of toys in India?
3. What are the key factors driving the India Toy Market?
4. How Indian government is supporting the toys industry?
5. What is the breakup of India Toy Market based on the type of players?
6. What are the major distribution channels in the India Toy Market?
7. What is the breakup of India Toy Market based on the type of toys?
8. Who are the major players in the India Toy Market?