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Philippines Toys Market Report by Product Type (Action Figures, Building Sets, Dolls, Games and Puzzles, Sports and Outdoor Toys, Plush, and Others), Age Group (Up to 5 Years, 5 to 10 Years, Above 10 Years), Sales Channel (Supermarkets and Hypermarkets, Specialty Stores, Department Stores, Online Stores, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A23587
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Philippines Toys Market Overview:
The Philippines toys market is projected to exhibit a growth rate (CAGR) of 5.70% during 2024-2032. The increasing disposable incomes, rising demand for educational toys, advancements in technology, the growing popularity of licensed merchandise, e-commerce expansion, emphasis on child development, and the rising trends in eco-friendly and sustainable toys are some of the key factors contributing to the market growth.
|
Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023 |
|
Forecast Years
|
2024-2032
|
|
Historical Years
|
2018-2023
|
| Market Growth Rate (2024-2032) | 5.70% |
Philippines Toys Market Trends:
Rise of educational and science, technology, engineering, and math (STEM) toys
Parents are increasingly recognizing the importance of toys that not only entertain but also educate and develop critical thinking skills in their children. STEM toy acronyms are becoming increasingly popular because they foster creativity, problem-solving abilities, and intellectual development. These toys range from simple building blocks to advanced robotic kits that teach coding and engineering concepts. The emphasis on early childhood education and the integration of play-based learning in curriculums are propelling the demand for educational toys. Manufacturers are continuously innovating to develop toys that align with educational standards and appeal to both parents and children, strengthening the market growth.
The growing popularity of licensed merchandise
The surge in licensed toys, based on popular movies, TV shows, video games, and comic book characters that are highly popular among children and collectors alike is aiding in market expansion. Brands such as Disney, Marvel, and LEGO capitalize on the immense fan base of their franchises by producing toys that resonate with popular culture. Consequently, the release of blockbuster films and TV series, fueled by the powerful marketing campaigns and media presence of these franchises, which create a strong emotional connection with consumers is boosting the demand for related toys and merchandise. Moreover, the integration of technology in licensed toys, such as interactive action figures and augmented reality (AR) experiences, further enhances their appeal. Additionally, the rise in adult collectors who seek nostalgia and exclusivity is further impelling the market growth.
Increasing demand for sustainable and eco-friendly toys
Environmental awareness and the push for sustainability are influencing consumer preferences, with parents seeking toys that are safe for their children and the planet. Concerns about how plastic toys affect the environment and a desire for non-toxic, renewable materials are driving this trend. Manufacturers are responding by developing toys made from recycled plastics, organic fabrics, and sustainably sourced wood. For instance, toys 'R' Us is pioneering eco-friendly initiatives by becoming the first toy retailer in the Philippines to feature the Barbie Loves the Ocean collection. This product line is predominantly crafted from 90% recycled ocean-bound plastic components, accompanied by the Beach Shack playset and accessories, which are made from over 90% recycled plastic materials. The growing adoption of the circular economy in this industry which emphasizes the design of durable and recyclable toys to produce long-lasting and repairable goods, is aiding the market expansion.
Philippines Toys Market News:
- In September 2023, MR.TOY announced the opening of its store at the lively Sta. Lucia East Grand Mall. This momentous occasion signals the start of an exciting adventure for MR.TOY, as they introduce their dedication to "Always Low Prices, Always Fun" to the Filipino community.
Philippines Toys Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type, age group, and sales channel.
Product Type Insights:
- Action Figures
- Building Sets
- Dolls
- Games and Puzzles
- Sports and Outdoor Toys
- Plush
- Others
The report has provided a detailed breakup and analysis of the market based on the product type. This includes action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush, and others.
Age Group Insights:
- Up to 5 Years
- 5 to 10 Years
- Above 10 Years
A detailed breakup and analysis of the market based on the age group have also been provided in the report. This includes up to 5 years, 5 to 10 years, and above 10 years.
Sales Channel Insights:
- Supermarkets and Hypermarkets
- Specialty Stores
- Department Stores
- Online Stores
- Others
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, specialty stores, department stores, department stores, online stores, and others.
Regional Insights:
- Luzon
- Visayas
- Mindanao
The report has also provided a comprehensive analysis of all the major regional markets, which include Luzon, Visayas, and Mindanao.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Philippines Toys Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Billion US$ |
| Scope of the Report | Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|
| Product Types Covered | Action Figures, Building Sets, Dolls, Games and Puzzles, Sports and Outdoor Toys, Plush, Others |
| Age Groups Covered | Up to 5 Years, 5 to 10 Years, Above 10 Years |
| Sales Channels Covered | Supermarkets and Hypermarkets, Specialty Stores, Department Stores, Online Stores, Others |
| Regions Covered | Luzon, Visayas, Mindanao |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the Philippines toys market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Philippines toys market?
- What is the breakup of the Philippines toys market on the basis of product type?
- What is the breakup of the Philippines toys market on the basis of age group?
- What is the breakup of the Philippines toys market on the basis of sales channel?
- What are the various stages in the value chain of the Philippines toys market?
- What are the key driving factors and challenges in the Philippines toys?
- What is the structure of the Philippines toys market and who are the key players?
- What is the degree of competition in the Philippines toys market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Philippines toys market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the Philippines toys market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Philippines toys industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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