June 17, 2022
According to the report titled ‘United States Toys Market - Growth, Demand, Trends, Opportunity, Forecasts (2020 - 2027)’, available with MarketStudyReport, United States toys market is expected to amass USD 56 billion between the years 2020 and 2027.
Launch of immersive & multi-functional toys that assist in enhancing children's intellectual capabilities, combined with the emergence of online sales channels facilitating instant access to toys are parameters boosting the progress of United States toys market.
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Besides, the use of virtual reality (VR) in experimental games as well as the presence of high-electronic toys are hastening industry development.
Furthermore, the preference for eco-friendly products such as wooden and plastic-free toys that promote sustainability is unveiling financially rewarding opportunities for the enterprises in this field.
In addition to emphasizing on growth catalysts, the report conducts a detailed analysis into the current market situation by identifying the barriers likely to be faced by the entities that can stymie overall development in the forthcoming years.
During the COVID-19 pandemic, a time which was the most challenging phase for most businesses, United States toys industry had witnessed a boom and officially maintained its momentum. The truth of the matter is that families took to toys to keep their kids involved, productive, and delighted in times of adversity which bolstered the expansion of the business sphere.
Based on category, the industry is divided into youth electronics, arts & crafts, dolls, infant/ toddler/ preschool toys, outdoor & sports toys, building sets, vehicles, plush, action figure & accessories games/puzzles, and others.
The segments stated above are carefully evaluated in terms of revenue share and growth rate to ascertain which vertical is poised to obtain substantial yields over the course of the study period. As a result, the report highlights the key opportunities for stakeholders to engage in to boost revenue.
The study also collates relevant information on major deals occurring in the market in the form of collaborations, partnerships, and licensing agreements for keeping a better update on the changes taking place in the business environment.
Taking the analysis further, the competitive landscape of United States toys marketplace is influenced by players like Hasbro, Inc., LEGO Systems, Inc., and Mattel, Inc. The document covers meticulous information about the listed companies along with their industry share and strategies.