Toys & Hobby Report 2020

Statista Consumer Market Outlook - Market Report


The Toys and Hobby market includes traditional toys and games for children and adults, video games consoles, various musical instruments and their accessories, equipment for indoor and outdoor sports activities, as well as equipment for fishing. The increase in disposable income as well as the growing awareness of a balanced work and private life, encourages consumers to spend more money on their hobbies.

Overall, Toys and Hobby products generated US$456 billion in revenue worldwide in 2019, and by 2023, this is forecast to rise to US$545 billion. The Toys and Games segment accounts for the largest share of the Toys and Hobby market, representing more than half of the market’s revenue. It includes a wide variety of products intended mainly, but not exclusively, for the entertainment of children. The Toys and Games segment is predicted to amount to US$357 billion by 2023, up from US$297 billion in 2019. The segment is driven by an increase in online sales, a rise in demand for eco-friendly and high-quality toys, a fierce price competition and rapidly changing consumer preferences.

The constant growth of the Sports Equipment segment is fueled by an overall trend toward an active lifestyle, increasing awareness of health and fitness issues, growing participation in sports activities. In 2023, the Sports Equipment segment revenue is forecast to reach approximately US$148 billion, a steady increase from about US$126 billion in 2019. In this same year, the segment accounted for 28% of the worldwide Toys and Hobby market revenue.

The global musical instruments industry is heavily influenced by different cultural tastes in music. The Musical Instruments segment is the smallest segment of the Toys and Hobby market. Worldwide revenue accruing from this segment is forecast to increase by approximately US$8 billion between 2019 and 2023.

The toys and hobby industry is dominated by a few key players such as LEGO, Mattel, Amer Sports and Yamaha Corporation. With more than US$5.6 billion in 2018, LEGO had the highest toy sales among the companies, followed by Mattel with US$4.5 billion.

The following trends currently shape the market and are the industry’s answer to a changing consumer interest:

  • STEM toys, aimed at teaching kids tech skills and math in an amusing way
  • Games which leverage on virtual and augmented reality

  • Language: English
  • Released: January 2021
More than 7,500

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