Educational Toy Market – Global and United States
Educational Toy Market Introduction
Educational toys and activities for children assist to boost their minds. Learning and development toys have been demonstrated to improve a child’s IQ via enhancing memory, coordination, and reading skills.
Playing with educational toys can help children enhance their sensory-motor abilities. It’s a good idea to boost a child’s sense of sight by using bright colours and music. When older children interact with or produce crafts, their fine motor abilities improve. As a consequence, children’s personalities and communication skills will develop.
Global Market Size
The global educational toys market was valued at $64.9 billion in 2020. The market is expected to reach $132.6 billion by the end of 2028, growing at a CAGR of 9.34% during 2021-2028.
COVID-19 Impact
With COVID-19’s unprecedented and staggering global impact, educational toys have witnessed a surge in demand across the board throughout the pandemic.
COVID-19 has had an impact on both the physical and online distribution of educational toys, although online sales have increased significantly.
US Educational Toy Market
US Market Overview
In 2020, the North American educational toys market was valued at $24.98 billion. Out of the total North American educational toys market, the United States held the largest market share of around 58.46%.
In 2020, the US educational toys market was valued at $14.60 billion. The US educational toys market is estimated to grow at a CAGR of 6.01% during the forecasted period 2020-2028 and will reach $23.3 billion in 2028.
The global market is governed by a variety of laws and regulations focused on toy safety. For instance, producers in the United States are obliged to follow a set of standards and regulations outlined in ASTM F963- Standard Consumer Safety Specification for Toy Safety.
US Kids Educational Toys Market Overview
On the basis of type, the US educational toys market is segmented into Arts and Crafts, Role Play, Game & Puzzles, Motor Skills, Musical toys, and others. In 2020, Motor skills hold a dominant market share of approximately 28%, followed by role-playing with 19%. Art & craft with 18.5% and games & puzzle with 13.5%.
The mind games for kids include Legos, Puzzles, Art Toys, Books, Mystery toys, Board, and Card games. A survey conducted regarding the educational toys market in the US highlighted that mind games for kids held approximately 25% of the overall US educational toys market. Therefore, It is extrapolated that the kids’ mind games market is worth $3.65 billion in 2020.
Data Sources: Fortune Business Insights, Statista, Transparency Market Research
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