Toys and games in India witnessed strong positive current value growth in 2023. After three years of decline, traditional toys and games experienced a strong rebound as the supply situation improved, and major players such as Mattel and Hasbro resumed imports of toys into the country.
The educational value that toys provide remains of particular importance to parents when purchasing traditional toys and games for their children. Toys that enhance analytical, cognitive, and creative and problem-solving skills have become increasingly popular.
Hasbro India Toys Private Ltd retained the top spot in traditional toys and games in value terms in 2023, followed by Mattel Toys (India) Pvt Ltd and Funskool (India) Ltd, with all three experiencing retail value growth in this year. The resumption of imports benefited Mattel and Hasbro hugely, as they could once again bring stock into the market after a gap of almost a year.
In 2023, traditional toys and games stores retained the majority share of distribution in traditional toys and games in India. Purchasing products in stores allows consumers to check the product quality and authenticity, and also provides them with instant gratification.
Overall toys and games in India is expected to experience a dynamic double-digit current value CAGR in the forecast period, driven by macroeconomic factors, the traction towards mobile gaming, and the improving domestic manufacturing scene in the country.
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Toys and Games
This is the aggregation of traditional toys and games and video games.
See All of Our DefinitionsThis report originates from Passport, our Toys and Games research and analysis database.
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