Traditional Toys and Games in Asia Pacific

January 2020

Asia Pacific is the second largest market for traditional toys and games, and remains one of the fastest growing regions. While Asia Pacific has a falling birth rate and had the second lowest per household expenditure on traditional toys and games in 2018, the region is still expected to enjoy good value growth, due to rising disposable incomes, smaller average household sizes, the premiumisation trend and product innovation.

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Key findings

Manufacturers adapt to changing demographics

While birth rates remain low in Asia Pacific, manufacturers are still confident that the overall market will grow. Manufacturers have extended the target age range of traditional toys and games to include consumers from older demographics. In addition, with the decline in the average household size, families can now afford more premium products. These factors will enable manufacturers to achieve positive sales growth, despite the unfavourable demographics.

Physical retail outlets remain crucial in driving sales

Despite the growing share of sales contributed by internet retailing, offline retailers remain competitive by engaging consumers in ways that internet retailing does not. These retailers offer an experiential shopping journey beyond displays of their products, such as by organising meet-and-greet sessions with iconic characters like Hello Kitty and Pikachu. Interactive zones and larger-than-life displays are also used in stores to appeal to children.

Counterfeit products continue to be a cause of concern for manufacturers

The boom of internet retailing has given rise to good opportunities for counterfeit traditional toys and games to be distributed and sold widely to consumers who are looking for affordable products. The e-commerce marketplace for third party sellers has bred an extensive ecosystem of counterfeiters and knockoffs that pose a threat to existing players, competing for their share of the market.

Licensed toys and blind collectibles expected to drive growth in the forecast period

Licensed toys continue to be popular amongst the young and old, and consumers increasingly buy these licensed toys with the intention of collecting the series. This rising trend boosts value sales as consumers are willing to spend on limited editions and sophisticated designs to have these toys as part of their collection. Meanwhile, blind collectibles are also spurring growth as they are popular amongst girls, and this trend is expected to continue over the forecast period.

Introduction

Scope
Key findings

Regional Overview

Putting Asia Pacific in context
China will dominate growth over the forecast period
China and Japan lead in traditional toys and games
Licensed toys represent a strong force in driving value growth
Blind collectibles continue to gain popularity in different categories
Construction sees strongest growth in Asia Pacific
Innovation in product categories drives growth
Leisure and personal goods specialist retailers remains the top channel
Offline retailers thrive despite the rise of online shopping

Leading Companies and Brands

Asia Pacific is relatively consolidated
Multinational companies dominate the industry
Companies have wide geographic coverage
Counterfeit toys are a cause of concern for manufacturers

Forecast Projections

Most markets predicted to grow positively but at varying rates
Manufacturers capture sales from both young and old

Country Snapshots

China: market context
China: competitive and retail landscape
Hong Kong: market context
Hong Kong: competitive and retail landscape
India: market context
India: competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
Japan: market context
Japan: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Philippines: market context
Philippines: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape

Appendix: Competitor Analytics

Competitor Analytics tool
Overview
Competitors
Market overlap
Treemap
Overlap matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models

Appendix: Via Pricing

About Via Pricing from Euromonitor International

Toys and Games

This is the aggregation of traditional toys and games and video games.

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