Toys And Games in Singapore
Euromonitor International's Toys And Games in Singapore report offers a comprehensive guide to the size and shape of the traditional toys and games and the video games market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market- be they new product developments, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Tables: 32 | Publication date: Nov 2008
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- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Executive summary
Very Strong Market Growth
Strong domestic economic growth made 2007 a very good year for Singapore’s toys and games market. The toys and games industry grew by 19.2% in 2007 compared to an overall growth of 6.7% in 2006. This growth was largely driven by the video games sector, which is expected to achieve a constant annual growth rate of 14.6% from 2008 to 2013, for a total growth of 97.8% during the same period.
Console Wars and Mass Recall of Unsafe Toys
Two important developments occurred in the video games sector in 2007. Firstly, all three “next-generation” video games consoles — Microsoft Xbox 360, Sony PlayStation 3 and Nintendo Wii — were finally available for retail in Singapore. At the same time, Singapore’s media regulation agency adopted a new age-based classification for video games, which lead to the availability of a wider range of video games. The traditional toys sector, on the other hand, was badly affected by the global recall of toys made in China in 2007. The costs of toy production are expected to rise sharply as China struggles to implement expensive quality control measures in its toy factories. This will further reduce the already razor-thin margins for many traditional toys companies.
Video Games Start Overtaking Traditional Toys
Video games continued to grow well in Singapore, achieving an annual average growth rate of 27% from 2003 to 2008. More significantly, the video games sector, valued at S$139.2 million, has nearly caught up with the traditional toys sector, which is worth S$145.5 million in retail sales value. At its current momentum, the video games sector is set to overtake the traditional toys sector by early 2008. This is partly driven by the fall in prices of high-definition televisions (HDTVs) in Singapore, which has made them more accessible to mainstream consumers. Within the traditional toys sector, activity/construction, dolls/figures and “other traditional toys and games” registered the highest growth from 2002 to 2007. Toy companies are exploring new ways to increase demand from consumers, including launching brands that are specifically tailored for an Asian market.
Future Growth In Untapped Market Segments
Across the entire market, there is an increasing emphasis on improving the designs of traditional toys and video games. There is also an increasing awareness of the need to build a competitive niche in the Singapore market based on unique toy designs, particularly in the dolls/figurines subsector, which is trying to cater to mature toy collectors who want to buy limited edition “designer” toys. This trend could be observed in the launch of the inaugural Singapore Toys and Comics Convention in June 2008, which aimed to allow toy manufacturers and designers to get a first-hand feel of what the market wanted. Meanwhile, toys and games inspired by Japanese animation and comic book characters are slowly gaining a higher profile in the local market due to increased media exposure to the popular niche segment. In the video games sector there was a large interest in developing and publishing games targeted at the “casual gaming” market, which includes women and families.
Traditional Toys Face Bleak Future
Singapore’s toys and games industry is expected to grow steadily from 2008 to 2013 but the majority of the growth will come from the video games sector, especially in 2008 and 2009, as video games grow increasingly popular with mainstream consumers. The traditional toys sector, on the other hand, is likely to slow down in 2008 and weaken in 2009, as the impact of rising inflation and a declining consumer sentiment makes itself felt. After 2009, Singapore is expected to rebound with a recovering global economy. Even so, traditional toys face the long-term problem of an ageing population. While there will continue to be moderate growth in the dolls/figures and activity/construction segments, as a whole, the traditional toys sector is likely to experience very sluggish growth rates from 2009 to 2013. Furthermore, children in Singapore are increasingly turning to electronic entertainment, which is likely to reduce the popularity of traditional toys over this period.
Table of contents
TOYS AND GAMES IN SINGAPORE : MARKET INSIGHT
EXECUTIVE SUMMARY
Very Strong Market Growth
Console Wars and Mass Recall of Unsafe Toys
Video Games Start Overtaking Traditional Toys
Future Growth In Untapped Market Segments
Traditional Toys Face Bleak Future
KEY TRENDS AND DEVELOPMENTS
Strong Economic Recovery Spurs Market Growth
Toys Safety Becomes Major Concern
Casual Video Games Will Be “The Next Big Thing”
Designer and Collector Toys Grow Popular
Toy Industry Remains Fragmented, But Less So
MARKET DATA
Table 1 Sales of Toys and Games by Sector: Value 2003-2008
Table 2 Sales of Toys and Games by Sector: % Value Growth 2003-2008
Table 3 Sales of Toys and Games by Distribution Format: % Analysis 2003-2008
Table 4 Toys and Games Company Shares by Value 2004-2007
Table 5 Forecast Sales of Toys and Games by Sector: Value 2008-2013
Table 6 Forecast Sales of Toys and Games by Sector: % Value Growth 2008-2013
DEFINITIONS
Summary 1 Research Sources
LOCAL COMPANY PROFILES - SINGAPORE
COMICS CONNECTION PTE LTD - TOYS AND GAMES - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Comics Connection Pte Ltd: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
MAXSOFT PTE LTD - TOYS AND GAMES - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 3 Maxsoft Pte Ltd: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 4 Maxsoft Pte Ltd: Competitive Position 2007
MIKOISHI PTE LTD - TOYS AND GAMES - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Mikoishi Pte Ltd: Key Facts
Summary 6 Mikoishi Pte Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 7 Mikoishi Pte Ltd: Production Statistics 2007
COMPETITIVE POSITIONING
Summary 8 Mikoishi Pte Ltd: Competitive Position 2007
PLAY IMAGINATIVE PTE LTD - TOYS AND GAMES - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 9 Play Imaginative Pte Ltd: Key Facts
Summary 10 Play Imaginative Pte Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 11 Play Imaginative Pte Ltd: Competitive Position 2007
SHENG TAI TOYS PTE LTD - TOYS AND GAMES - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 12 Sheng Tai Toys Pte Ltd: Key Facts
Summary 13 Sheng Tai Toys Pte Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 14 Sheng Tai Toys Pte Ltd: Competitive Position 2007
TRADITIONAL TOYS AND GAMES IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 7 Sales of Traditional Toys and Games by Subsector: Value 2003-2008
Table 8 Sales of Traditional Toys and Games by Subsector: % Value Growth 2003-2008
Table 9 Sales of Traditional Toys and Games by Distribution Format: % Analysis 2003-2008
Table 10 Traditional Toys and Games Company Shares by Value 2004-2007
Table 11 Forecast Sales of Traditional Toys and Games by Subsector: Value 2008-2013
Table 12 Forecast Sales of Traditional Toys and Games by Subsector: % Value Growth 2008-2013
VIDEO GAMES IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 13 Sales of Video Games by Subsector: Value 2003-2008
Table 14 Sales of Video Games by Subsector: % Value Growth 2003-2008
Table 15 Sales of Video Games by Distribution Format: % Analysis 2003-2008
Table 16 Video Games Company Shares by Value 2004-2007
Table 17 Forecast Sales of Video Games by Subsector: Value 2008-2013
Table 18 Forecast Sales of Video Games by Subsector: % Value Growth 2008-2013