The Asia Pacific Construction Toys Market would witness market growth of 6.9% CAGR during the forecast period (2022-2028).
Concerns about the safety of the raw materials utilized in building toys have grown as a result of the rising demand for toys. Green toys created from eco-friendly raw materials are becoming more and more popular among parents and educators. Many established businesses are launching eco-friendly construction toys on the market in an effort to profit from this trend. These are the main elements that are anticipated to propel the growth of the market for construction toys in the coming year. One of the major trends that will favorably impact the expansion of the construction toy market throughout the anticipated period is the introduction of environmentally friendly toys.
On the other hand, one of the major obstacles to the expansion of the market for building toys is the rising popularity of digital and e-games. Because of its water resistance and low degree of toxicity, the majority of toy manufacturers support plastic as being fully safe for children. Toys with PVC, Bisphenol A, and plasticizers that contain adipates and phthalates are not suitable for children and can have a detrimental impact on their health. The toy industry is being compelled to avoid the aforementioned plastic materials due to growing awareness among parents and educational authorities.
China's budget for the nation's education system is constantly growing. China's government invested 4% of its 520 billion USD GDP, or total national income, in education in 2018. Additionally, compared to 2017, spending increased by 8.15 percent in 2018. The expansion of toy demand throughout this region would be facilitated by the rising government spending on various nations' education departments.
The China market dominated the Asia Pacific Construction Toys Market by Country in 2021; thereby, achieving a market value of $1.4 billion by 2028. The Japan market is poised to grow at a CAGR of 6.2% during (2022 - 2028). Additionally, The India market would experience a CAGR of 7.5% during (2022 - 2028).
Based on Material, the market is segmented into Polymer, Wood, Metal and Others. Based on Product, the market is segmented into Bricks & Blocks, Tinker Toy and Others. Based on Distribution Channel, the market is segmented into Hypermarkets & Supermarkets, Specialty Stores, Online and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Construction Toys Market is Projected to reach USD 18.1 Billion by 2028, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hasbro, Inc., Mattel, Inc., Spin Master Corp., LEGO Group (KIRKBI A/S), Ravensburger AG, Magformers LLC, PlayMonster LLC, Bandai Namco Holdings, Inc., Rockaway Records Ltd., Basic Fun, Inc.
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