DUBLIN--(BUSINESS WIRE)--The "Indian Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The Indian toys market reached a value of US$ 1.23 Billion in 2020. Looking forward, the Indian toys market to grow at a CAGR of 12.2% during 2021-2026.

The existence of toys in India dates back to the Indus Valley Civilization around five thousand years ago. The earliest toys included whistles shaped like birds, toy monkeys which could slide down a string and small carts which were made from materials found in nature such as sticks, clay and rocks. In recent years, the advent of advanced technology and machinery has encouraged manufacturers to produce modern and innovative toys.

India has one of the largest young population in the world, owing to which, the toy industry in the country has witnessed a rapid growth. The market is brimming with a wide array of both traditional and modern toys.

However, with evolving trends, there has been a shift from conventional toys towards innovative and hi-tech electronic toys. For instance, Lego has replaced wooden building blocks while Barbie dolls have now taken over traditional cloth dolls.

Indian Toys Market Drivers

Driven by a huge consumer base, India represents an important market for toys. With a population of around 1.3 Billion, it is the second largest populated country in the world. Moreover, the country has a very large young population with around half of the total population under the age of 25.

The increasing domestic demand for toys in India is also being catalysed by the country's strong economic growth and rising disposable incomes. India has exhibited strong GDP growth rates for the last several years and now represents amongst the world's largest economies.

Driven by this trend, the middle-class population has experienced strong growth in the region. consumers have more disposable incomes and their spending patterns have also changed. This has resulted in a major shift from traditional, medium- to low-end battery-operated toys, towards innovative electronic toys, intelligent toys as well as upmarket plush toys.

There are a large variety of toys currently available in the market. 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, etc. There are toys which are domestically produced by small, medium and large manufactures and also those that are produced from renowned international brands. Each toy category has inexpensive and high-end versions.

Online sales channels have also recently witnessed a boom in India with the evolution of smartphones and other digital media. As quality and features of products can be discussed among shoppers, and prices can be compared on various platforms, online sales channels have appeared to be one of the fastest growing distribution channels for toys in India.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the Indian toys market report, along with forecasts for growth at the regional and state level from 2021-2026. Our report has categorized the market based on region, toy type, gender, and distribution channel.

Breakup by Toy Type:

On the basis of toy type, plush toys are the most popular segment as they are considered safe and are popular among children of all age groups. Other major toy types include electronic toys, games and puzzles, construction and building toys, dolls, ride-ons, sports and outdoor play toys, infant/pre-school toys and activity toys.

Breakup by Gender:

Based on gender, unisex toys dominate the Indian toys market, accounting for the majority of the overall market share. Unisex toys are followed by girls' and boys' toys.

Breakup by Distribution Channel:

The market has further been segmented on the basis of distribution channel into specialty stores, super and hyper markets, online and others. Currently, specialty stores represent the largest distribution channel.

Regional Insights:

On a geographical front, Maharashtra currently represents the largest market. Maharashtra is followed by Tamil Nadu, Karnataka, Gujarat, Delhi and others.

Competitive Landscape:

Some of the leading players operating in the market are:

• Funskool
• Lego
• Mattel
• Hasbro

For more information about this report visit https://www.researchandmarkets.com/r/l5ogmr

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