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The educational toys market size is forecast to increase by USD 21.44 billion, at a CAGR of 10.44% between 2023 and 2028. The increasing demand for smart toys is driven by factors such as technological advancements, which enable more interactive and engaging toys, as well as changing consumer preferences towards educational and interactive toys. The increased emphasis on STEM (Science, Technology, Engineering, and Mathematics) toys is driven by the growing recognition of the importance of these skills in education and future careers, leading to higher demand for toys that can help develop these skills. The increasing number of investments in the market is also driving growth as companies and investors see the potential for innovation and growth in the smart toy market.
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The market share growth by the 0-4 years segment will be significant during the forecast period. Children in this age group are still at a young age and are beginning to understand the environment. As a result, they are generally kept under the supervision of an adult, daycares, or babysitters. In addition, children in this age group start developing their motor skills. As a result, parents generally opt for educational playthings consisting of cognitive and motor skills, along with constructional playthings that enhance motor skills as well as emotional and social skills.
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The 0-4 years segment was valued at USD 14.95 billion in 2018. Manufacturers must delicately work on the manufacturing to avoid any structural imbalances on the surface of the toy, such as sharp edges, as children of this age are prone to chewing on objects, thereby physically hurting themselves. Manufacturers should also take care that they offer are non-breakable and washable.
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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is expected to record rapid growth during the forecast period. Countries such as China, India, Malaysia, and Australia significantly contribute to the growth of the market. An improved demographic environment and a significant rise in the purchasing power of parents are the major factors driving the market. The younger, middle-class population, along with a cultural parenting shift from traditional education to educational playtime, is growing in the region.
The market is evolving with a focus on durability and eco-friendly learning. Manufacturers are adapting to lockdown restrictions by enhancing online channels for product sales, while navigating challenges like import duty and reducing disposability through materials like sugarcane and cardboard. These innovations promote cognitive development, interactivity, and hand-eye coordination, crucial for spatial skills and imaginative growth in preschools. Emphasizing green learning and avoiding harmful chemicals such as Bisphenol A, new players in the market emphasize appeal and cultural sensitivity. As the market expands, educational toys play a pivotal role in nurturing cognitive skills and fostering sustainable practices, aligning with parental preferences for safe, eco-friendly options.
Science, Technology, Engineering, and Mathematics (STEM) toys drive the market, benefiting companies, schools, and parents seeking hands-on learning for students. With the rise in STEM jobs and student interest, the demand for STEM grows. These can be mass-market, such as Lego, or specialty, like interactive STEM kits. They enhance cognitive skills, logic, collaboration, and problem-solving. Games such as Rush Hour and Robot Turtles develop pattern recognition and programming abilities. Construction kits, such as Snap Circuits and littleBits, cater to imagination and motor skills. Innovative teaching methods increase the need for STEM toys, especially for ages 4-8 and above, driving the global market.
Further, the increasing demand is also driven by educators and early childhood education. These toys are designed to be interactive and engaging, serving as smart educational toys for kids. There is a growing focus on sustainable educational playthings that are eco-friendly and socially responsible. This includes using recycled and recyclable materials, as well as bio-based plastic and plastic packaging. They not only aid in intellectual development but also in motor development, as they often imitate adult-use activities. They are purposeful, sparking curiosity and offering various forms of play, from open-ended toys to electronic and app-enabled. Building, sports, sensory, and other toys that mimic various vocations are also popular, encouraging pretend play and role-play.
The use of 3D printing in toy manufacturing is a significant trend in the market. With 3D printers, students, parents, and educators can create unique ones, fostering design creativity and simplifying the manufacturing process. This leads to cost reductions in producing educational playthings, allowing for multiple versions with improved materials and features.
Additionally, 3D printing reduces prototyping time and offers cost savings on molds for design iterations. Established companies, like Mattel, have introduced entry-level 3D printers for educational purposes, indicating a potential drive in the global market during the forecast period.
The primary obstacle hindering the growth of the learning and market is the substantial manufacturing cost. The industry involves various intermediaries in the supply chain, from raw material procurement to distributors and retailers. Safety considerations significantly impact consumer choices, leading to increased production costs for these meeting safety standards. This situation allows locally produced, lower-quality ones to be more affordable.
Moreover, fluctuations in raw material prices and disruptions contribute to high inventory costs, prompting companies to set higher product prices for a better return on investment. Furthermore, the integration of advanced technologies like augmented and virtual reality in educational playthings further raises their prices, impeding market growth.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CocoMoco Kids - The company offers educational toys such as Animals in a tin boxes as its key offering under educational toys.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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The market is thriving, with education manufacturers focusing on diverse distribution channels, including online channels, supermarkets, specialty stores, and ecommerce platforms. Embracing sustainability, materials like bamboo and plant-based plastic are used, ensuring non-toxic, lead-free compositions to meet product safety and quality standards. Toys feature embedded sensors and onboard electronics to enhance intelligence development through activities like arts, crafts, role play, and puzzles. Musical toys stimulate imaginative skills while promoting physical activity among toddlers. Addressing safety concerns, they are flame-resistant and Phthalate-free, ensuring choking hazards are minimized. With a comprehensive approach to STEM-focused and digital learning tools, caregivers and end-users find age-appropriate content that encourages exploration and experimentation. Supported by associations like the Toy Association, these toys foster consumer confidence and are widely available in retail stores and online retailers, including outlets like Whole Foods Market across regions such as Sao Paulo, Minas Gerais, and Santa Catarina.
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Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.44% |
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Market growth 2024-2028 |
USD 21.44 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.64 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, Japan, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
All Star Learning Inc., CocoMoco Kids, Engino.net Ltd., Fat Brain Toys LLC., HABA USA, Johnco, Learning Resources Ltd., LEGO System AS, Little Genius Toys Pvt. Ltd., Mattel Inc., Melissa and Doug, Mishka AI, My Luxeve Pty Ltd., Oriental Trading Co., Ozo EDU Inc., Pegasus for kids, Ravensburger AG, Sphero Inc., Technybirds, and VTech Holdings Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Age Group
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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