Sustainable Toys Market Size is set to Grow at a Remarkable Pace in the Coming Years

Increasingly using smartphones for education and playing purposes is likely to hinder the growth of the sustainable toys market during the forecast period

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, December 8, 2023 /EINPresswire.com/ -- Increased awareness regarding hazardous effects of toxic chemicals used in the toys and increasing concern about climate and environment are majorly driving the growth of the sustainable toys market during the forecast period

According to a new report published by Allied Market Research, titled, “Sustainable Toys Market by Product Type, Age Group and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The sustainable toys market size is expected to reach $59,643.9 million by 2030, registering a CAGR of 8.2% from 2021 to 2030. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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Sustainable toys, also known as green toys or recycled toys are majorly made up of organic cotton, wool, beeswax, cork, bamboo and water based inks. Rise in environmental consciousness among the customers and rapid expansion of the retail sector is likely to propel the sustainable toys market growth during the forecast period. Plastic is known to be one of the most non-degradable substances used in the toy manufacturing.

To prevent the environmental issue, the rising concern about global warming and government regulation regarding the use of plastic has been contributing for the growth of the sustainable toys market. Furthermore, government regulations regarding the use chemicals in toys and development of an eco-label certification program for toys are supporting for the growth of market.

Sustainable toys market analysis, the sustainable toys market segmented into type, product type, distribution channel, age group and region.

By product type, the market is categorized into action figures, building sets, dolls, games/puzzles, sports and outdoor toys and others. On the basis of age group, the market is segmented into, up to 5 years, 5 to 10 years and above 10 years.

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By distribution channel, market is categorized into, hypermarket/supermarket, specialty stores, departmental stores, online channels and other.

By Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa and Rest of LAMEA).

According to the sustainable toys market trends, on the basis of distribution channel, the online channels segment is growing at highest CAGR growth rate and is estimated to reach $7,863.2 million by 2030. The online sale of sustainable toys is likely to gain significant traction in the upcoming years. Consumers can obtain access to products manufactured in a different country through online retail. Consumers who demand a product from a specific brand but do have access to the physical store can easily purchase it from online portals. Therefore, online stores enable attaining a larger consumer base across the world. It is regarded as the fastest growing sales channel in the global market.

The key players profiled in this report include;-
co Kids
Le Toy Van
Green Toys
Legler
Tegu
Plan Toys
LEGO
Hasbro
GOLIATH GAMES
CLEMENTONI.

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Key Findings Of The Study

The sustainable toys market size was valued at $18,940.0 million in 2020, and is estimated to reach $59,645.1 million by 2030, registering a CAGR of 12.5% from 2021 to 2030.
By type, the action figures segment is estimated to witness the significant growth, registering a CAGR of 15.2% during the forecast period.
By age group, the Up to 5 years segment is estimated to witness the significant growth, registering a CAGR of 11.7% during the forecast period.
In 2020, depending on distribution channel, the hypermarket/supermarket segment was valued at $5,423.50 million, accounting for 28.6% of the global sustainable toys market share.
In 2020, the US was the most prominent market in North America, and is projected to reach $14,738.50 million by 2030, growing at a CAGR of 11.7% during the forecast period.

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David Correa
Allied Market Research
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