With the increasing number of events, sales of the stuffed toys is projected to remain high. Surge in demand for the soft and comfort creature stuffed toys is projected to impact the global market growth of stuffed & plush toys positively. Persistence Market Research states that the global market of stuffed & plush toys is projected to reflect a CAGR of 6.2% over the forecast period, 2017-2026.
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Factors Fuelling Growth of the Global Market
Growth of the global stuffed & plush toys market is mainly bound to various macro-economic and macro-economic factors. As the need to purchase gifts for various occasions continue to increase, sales of the stuffed and plush toys continue to remain high in the global market. Occasions such as valentine’s day, birthdays, new year and Christmas are few occasions that are expected to boost the global market growth of stuffed & plush toys during the forecast period. As demand to give gifts on various occasions continue to increase, manufacturers are significantly focusing on developing festive gifts. With surge in the puppetry shows, sales of the stuffed toys is projected to remain high throughout the forecast period.
Prevalence of various diseases and illness is also projected to impact the global market growth of stuffed & plush toys. Stuffed toys enable the neurological patients to feel happy and relaxed as the patients regain their childlike qualities. With the growing prevalence of Alzheimer’s disease, demand for the stuffed toys are likely to increase in the global market during the forecast period. Manufacturers are increasingly offering stuffed toys that are bright in colors and have varied, which offers the patients sensory stimulation. Bound to these factors, sales of the stuffed and plush toys is expected to remain high in the global market during the forecast period.
The manufacturing companies operating in the global market of stuffed & plush toys are increasingly entering into various collaborations. Manufacturers are significantly concentrating on development and innovation of the products in order to incorporate advanced features such as sensors and GPS. Incorporation of advanced features in the stuffed toys will enable the end users to track the infants and children. Increasing number of collaborations among the manufacturing companies will further enable the companies to gain a competitive edge over other the players in the global market.
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Growing need to comply with the government regulation is projected to impact the global market growth of stuffed & plush toys. State and federal regulations that have been imposed by the regulating authorities has led to testing the products before launching them in the global market. These factors is projected to impact the global market growth of stuffed & plush significantly during the forecast period. With the increasing number of products that comply with the regulations imposed by Federal Trade Commission, the global market growth of stuffed & plush toys is projected to remain high throughout the forecast period.
Sales of Dolls & Playsets Products to Remain High
Growing preference for gifting stuffed toys at various occasions has led to surge in demand for dolls & playsets globally. In terms of revenue, the dolls & playsets product type segment is projected to generate significant revenues, recording more than US$ 900 Mn by 2026-end. In contrary to this, the special feature plush and puppets product type segment is projected to witness robust CAGR through 2026-end.
By 2026-end, the other sales channel (electronic and video stores, gift shops) segment is projected to represent a significant CAGR. However, the hyper/super market sales channel segment is projected to witness the highest growth in terms of revenue, accounting for more than US$ 500 Mn by 2017-end.
Based on stuffing materials, the organic toy stuffing segment is projected to reflect the highest CAGR over the forecast period. On the other hand, the synthetic toy filling stuffing materials segment is projected to represent robust growth in terms of revenue, recording more than US$ 1,100 Mn by 2026-end.
Major players in the global market of stuffed & plush toys are Bandai, Mattel, Hasbro, Lego, Spin Master Ltd, Simba-Dickie Group, GIANTmicrobes, Budsies, Ty Inc. and Build-A-Bear Workshop, Inc.
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