Educational Toy Market Size, Unveiling the Potential

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The Learning And Education Toys Global Market Report 2023 by The Business Research Company, provides learning and education toys market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Learning And Education Toys Global Market Report 2023, the market size is expected to grow from $50 billion in 2022 to $53.7 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global learning and education toys is expected to grow to $66.54 billion in 2027 at a CAGR of 5.5%.

The rise in demand for strategy-based and educational-based toys among children is driving the growth of the learning and education toys market. Educational toys are the objects of play and they are generally designed for children, which stimulates learning. They are intended to meet an educational purpose, such as teaching a child about a particular subject or helping a child develop a particular skill. Strategy-based toys also improve the skills of the child.

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The learning and education toys market is segmented:

1) By Product Type: Building Sets, Games And Puzzles, Sports And Outdoor Toys

2) By Age Group: Up to 5 years, 5 to 10 years, Above 10 years

3) By Distribution Channel: Hypermarket/Supermarket, Specialty Stores, Departmental Stores, Online Channels

The smart technology embedded learning and educational toys are gaining popularity in the learning and education toys market. Smart toys, have some level of artificial intelligence, which means they can learn, change how they communicate with the user, respond to external stimuli, and follow pre-programmed patterns. These toys give kids the ability to create their own play experience and act as a valuable educational tool. Major companies in the learning and education toys market are focusing on developing smart toys to grab the market share. For instance, in May 2021, Makeblock, a private Chinese technology company, has launched Codeybot, an educational robot that teaches children with basic programming through through a variety of intuitive features. Further in May 2021, the American multinational toy manufacturer, Mattel has launched Hot Wheels AI Street Shaker smart car and gaming controller which helps in adding more players to the set and extend the race. With the help of AI starter kit, players can follow the smart track or race independently in ai mode, as well as off-track in RC mode.

The learning and education toys market report table of contents includes: