The Latin America, Middle East and Africa Toys and Games Market would witness market growth of 8.4% CAGR during the forecast period (2021-2027).
Developmental and educational toys are popular for boosting the child’s IQ level as they help in providing better coordination, memory retention, and increased literacy. These learning toys and games challenge the mind of kids, which assist in improving their fine motor skills. For example, an infant child tries to pile up blocks but due to imbalance, they fall next time he again tries to arrange the blocks and succeeds by properly managing the balance. These toys not only help in increasing learning but also allows children to think in a creative manner.
Toys and games enhance children’s as well as adult’s imagination, creativity, problem-solving, and cognition skills. Thus, the toys and games market is witnessing an increase, owing to rapidly changing customer preferences, rising demand for high-quality & eco-friendly toys, powerful price competition among key players like Mattel & LEGO, and a growing number of online sales.
In LAMEA, Brazil has acquired significant growth in the demand for toys and games. The increase in disposable income and new product launches are some factors that are helping the market to develop and expand their occurrence among consumers in Latin America. In addition, classroom toys are helpful in promoting learning in a playful manner that has a positive impact on the development of children. Educational toys and games help in developing several skills like cognition, fine motor, recognition, social, and emotional in children.
Additionally, mechanical tools, doctor sets, kitchen sets, and others are all-time popular games and are fueling the demand for toys and games in this region. Moreover, games such as cryptograms, scrabble, chess, and blocks help in enhancing the knowledge base and IQ level of children. Further, the growing awareness among educators and parents associated with the importance of fast and innovative minds is thus, propelling the demand for toys and games. Therefore, these determinants are accountable to escalate the growth of the regional toys and games market.
The Offline market dominated the South Africa Toys and Games Market by Distribution Channel 2020, thereby, achieving a market value of $4,212 million by 2027. The Online market is expected to witness a CAGR of 9.8% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Product Type, the market is segmented into Electronic Games, Outdoor & Sports, Games and Puzzles, Dolls, Preschool Toys and Others. Based on End User, the market is segmented into 0-8 Age, 9-15 Age and 15 Age & above. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Toys and Games Market is Predict to reach $469 Billion by 2027, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Sony Corporation (Sony Interactive Entertainment LLC), VTech Holdings Limited, NetEase, Inc., LEGO Group (KIRKBI A/S), Dream International Limited, Nintendo Co., Ltd., Mattel, Inc., JAKKS Pacific, Inc. and Playmates Toys Limited (Playmates Holdings Ltd.).
By Distribution Channel
By Product Type
By End User
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