Above-trend demand in 2021 as families stayed home, spent stimulus funds
CLEVELAND, Aug. 3, 2022 /PRNewswire/ -- US demand for toys and games in nominal terms is forecast to see slight annual declines from a high 2021 base through 2026, according to Toys & Games: United States, a report recently released by Freedonia Focus Reports. Suppliers are expected to benefit from slight increases in the number of births and the population under five years old. Growing disposable personal incomes will further stimulate spending. New product introductions will continue to support demand, especially for video game consoles. Ongoing investment in new television series and movies based on well-known media franchises is expected to boost demand for toys and games featuring licensed characters and themes. However, the wide range of entertainment options that compete with toys and games will continue to prevent faster gains. In addition, many parents are interested in providing educational and fun experiences for their kids, rather than purchasing a large number of toys and games.
Sales of toys and games are expected to decline 15% in 2022, representing a dampening of demand following a 40% surge in 2021 that was driven by higher demand for in-home entertainment as adults and kids spent more time at home and fueled by government stimulus payments. Difficulties in procuring semiconductor devices may hurt output of electronic toys and games such as video game consoles and game machines. Supply chain difficulties and the rising price of raw materials such as plastic, due to rising oil and gas prices, will drive inflation in toy and game prices in 2022 and possibly further into the forecast period.
These and other key insights are featured in Toys & Games: United States. This report forecasts to 2022 and 2026 US toys and games demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
- toys and dolls
- video game consoles
- game machines
- board games
- baby carriages and strollers
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2011 to 2021.
Excluded from the scope of this report are video game software; card games; slot machines; and athletic equipment, bicycles, billiard tables, and bowling equipment. Re-exports of toys and games are excluded from demand and trade figures.
More information about the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
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SOURCE The Freedonia Group