APEJ is Expected to Capture Large Chunk of Demand Pie in Cartoon Toys Market During Forecast Period 2022-2032
Stuffed and plush toy shelves in retail stores have been dominated by character toys from leading comic houses such as Marvel, DC, and Disney. As a result, the growth of global stuffed and plush toys market was reported to be over 5% between 2014 and 2018. These blockbuster characters were a raging hit among target customer groups, and comic houses enjoyed copyright, royalty and licensing charges.
However, a gradual shift in trend has been observed, and such licenses will be available for the open market. Owing to these changes and easy licensing agreements, stuffed and plush toys market is expected to present an absolute $ opportunity of more than US$ 6 Bn during forecast period.
Key Takeaways of Stuffed and Plush Toys Market
- APEJ accounts for more than one third share in stuffed and plush toys market, and is expected to grow 2.1X by 2029 over 2019.
- Stuffed and plush toys based on action figures and models are expected to experience significant growth, generating a revenue of nearly US$ 1 Bn during the forecast period.
- While organic toy stuffing has been used minimally in manufacturing of stuffed and plush toys, it is expected to experience high growth rate during the forecast period.
- Hyper/super markets and toys stores remain the most preferred sales channels for stuffed and plush toys, and are expected to grow 1.7X collectively during the forecast period.
“Investments in franchises and licensing agreements are expected to be lucrative in long term. Traditional stuffed and plush toys are risky investments, but present quicker returns in short term”, says the Fact.MR analyst
Innovations and Vintage Product Launches to Augment Growth of Stuffed and Plush Toys Market
Stuffed and plush toys market has seen multiple product launches in recent past. Majority of the product launches in stuffed and plush toys market were focused on vintage characters and series like ‘Heidi’, ‘Finding Nemo’ and ‘Pokémon’ among others. These product launches have been aimed to meet the demand of millennials and Generation Y for vintage collectibles and toys. Other product launches in stuffed and plush toys market have been focused on innovative products. In 2019, TOMY Company, Ltd. launched ‘Dakkosite Nerun (Cozy Dozy)’, a caring plush toy to facilitate parents in putting children to sleep. With stuffed and plush toys manufacturers leveraging vintage products to generate new revenue streams and innovative product launches to cater to a steady demand, the market is expected to show significant growth during forecast period.
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