The Chinese toys and games market saw growth slow significantly in 2018, largely as a result of the suspension of approval for new video games due to a restructuring of government departments and regulatory concerns relating to violence and gambling related content in some games. The suspension of approval affected online, mobile and console games and led to a marked deceleration of growth in video games software.
The end of the review period saw a growing demand for toys and games that provide a more immersive, interactive experience. Video games saw the successful launch of new stand alone AR/VR headsets in 2018.
Domestic tech company, Tencent Holdings Ltd, extended its lead in overall toys and games in 2018. The company is working to strengthen its position in the market through partnerships with both foreign multinationals and local players.
Internet retailing increased its domination of overall toys and games distribution in the final year of the review period. Consumers are drawn to online retailing because of the wide range of products on offer, the availability of novel toys and games, and access to large promotional discounts, as well as the convenience of online ordering and home delivery.
Toys and games is forecast to see strong value growth over 2018-2023. While volume growth will be constrained by the contraction of the population aged between 0- and 17-years-old, value will be boosted by an upmarket shift in demand.
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This industry report originates from Passport, our Toys and Games market research database.