A toy is an object which is specially designed to train and amuse children. Wooden toys are traditional and classic form of toys that do not contain plastic, batteries, and can run hundred percentage on imagination. Diverse manufacturers use various materials such as paper, wood, plastic, and clay in order to make these toys. The wooden toys market has been undergoing rapid changes and has been witnessing consistent innovations in these products. Wooden toys are considered to be safe, as compared to other toys, as they do not possess sharp edges. These toys last long without suffering major breakages. Additionally, traditional wooden toys are manufactured from natural resources, which are mostly non-toxic and are often recycled, which makes them eco-friendly.
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A major factor driving the global wooden toys market is the rising population of kids across the world. Increasing urbanization and rising awareness about the benefits of wooden toys are also fuelling the wooden toys market. Furthermore, there has been a major shift in the buying behavior for traditional toys, globally. Gradually, a significant shift toward educational toys and art & craft has been witnessed, as parents are focusing more on providing education through fun activities. However, the market is witnessing high volatility in the price of wooden toys. Which is restraining the wooden toys market.
The global wooden toys market can be classified based on product type, end-user, distribution channel, age group, and geography. Based on product type, the wooden toys market can be segregated into construction sets, dolls, miniatures, vehicles, collectibles, physical activity, puzzles, and others. In terms of age group, the market can be segmented into 0-12 month, 1-3 years, 3-5 years, 5-12 years, and more than 12 years. Based on end-user, the global wooden toys market can be classified into residential and commercial. Based on distribution channel, the wooden toys can be split into online and offline. The offline segment of the global wooden toys market can be further sub-segmented into supermarkets and hypermarkets, convenience stores, and others. Hypermarkets and supermarkets have a strong presence in the current market.
In terms of geography, the global wooden toys can be segmented into Asia Pacific, Europe, North America, South America, and Middle East & Africa. North America is expected to hold a prominent share of the global wooden toys market. The market in Asia Pacific is anticipated to expand during the forecast period due to the increasing population in emerging economies such as India and China. Europe is a key region for the wooden toys market. Most wooden toys are exported from the countries in Asia such as China and Thailand. The market in South America and Middle East & Africa is also anticipated to expand at a steady growth rate during the forecasted period.
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The global wooden toys is highly fragmented with a majority of the local manufacturers accounting for a considerable share of the market. Some competitors in the value chain of the wooden toy market the key players are ABAfactory, SHENZHEN Eagle Creation Toys Co., Ltd, Aero-motion Inc., a wood expressions Inc., Challenge & fun, Inc., Fame (USA) products Inc., Woodland magic imports, Westwork Designs, plan toy, BAJO, Pepperell Braiding Company, Maple Landmark, Real Wooden Toys, Maxim Enterprise, Inc., Mattel Inc., Giochi Preziosi SpA, Hasbro Inc., Takara Tomy Co Ltd., ABAfactory, Eco Toys, China Xinyou Wooden Toys, RoyToy.com U.S.A, Melissa & Doug, The Wooden Wagon, Inc., Bella Luna Toys., Bigjigs Toys Ltd, and Mentari Group. These market players are focused on business strategies such as mergers & acquisition and geographical expansion in order to strengthen their position in the market
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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