FELTON, Calif., Oct. 6, 2020
FELTON, Calif., Oct. 6, 2020 /PRNewswire/ -- The global toys and games market size is projected to touch USD 139.2 billion by 2025 growing at 4.6% CAGR, as per a new report by Million Insights. The increasing number of online gaming competitions all over the world is a major factor propelling the growth of the market in the forecast period. Over the last few years, rising demand for in-licensing activities is proliferating the market growth.
Increasing demand for environment-friendly toys and games is also expected to propel the product demand in the coming years. Wood, organic cotton and cardboard are the major raw materials for manufacturing environmentally products. For example, recycled plastic milk bottles are used to make Green Toys. The company teamed up with Walmart for distribution of its products.
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The rising number of participants of e-sports is a major factor propelling the toys & games market. Innovative games like PUBG, Fortnight, FIFA and Counterstrike are gaining traction amongst youngsters and adults. These games are not only popular in children but adults as well.
Asia Pacific is anticipated to grow at a CAGR of 5.1% in the forecast period. Growing e-commerce channels coupled with the rising number of retail outlets is propelling the product demand and market growth in this region. North America seconded in terms of revenue, followed by Europe in 2018.
Further key findings from the report suggest:
Browse 80 page research report with TOC on "Global Toys and Games Market" at: https://www.millioninsights.com/industry-reports/global-toys-games-market
Million Insights has segmented the global toys and games market on the basis of product, application, distribution channel and region:
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