India is one of most populous countries in the world. About 5% of this population are infants aged 0-2-years-old, implying a huge customer base for baby and infant toys.
Board games and puzzles are finding a new target audience in adults as they look for newer means of entertainment. As going out has become an expensive and time-consuming affair, the trend of hosting friends at home is picking up, especially in towns and cities, through games nights.
DC, Marvel and Disney have dominated the toys and games licencing space in India. This has been the case mostly because of the exposure to Hollywood movies and TV series which are released at regular intervals.
Mattel Toys (India) overtook Funskool (India) Ltd to grab the number one spot in 2018. It was able to achieve this feat because of exemplary performances by Mattel’s trademark products, Fisher-Price in the baby and infant category, Barbie doll in dolls and accessories, and Hot Wheels in model vehicles.
Traditional toys and games stores were the most preferred medium for buying toys and games. The retail space is dominated by local and regional stores, but now Hamleys is making its presence felt in a big way.
In the past, the unorganised market in toys and games thrived due to the lack of regulations on quality and cheap imports. Major brands like Barbie, Hot Wheels and Monopoly have been impacted by the “me too” movement, and counterfeit products available at a much lower cost.
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This industry report originates from Passport, our Toys and Games market research database.