- Report ID : MD2987 |
- Pages : 220 |
- Tables : 45 |
- Formats :
The Stuffed and Plush Toys Market is segmented By Product Type (Cartoon Toys, Traditional Stuffed Animals, Battery Operated, Action Figures & Model Play, Dolls & Playsets, Customizable Stuffed Toys, Special Feature Plush Toys, Puppets) By Material Type (Synthetic Material, Natural/Organic Material, Blended Material), By Stuffing Material (Synthetic Toy Filling, Natural Toy Filling, Eco-friendly Toy Filling, Organic Toy Filling, Blended Toy Filling), By Price Range (Low, Medium, High), By Sales Channel (Hypermarkets/Supermarkets, Multi-brand Stores, Exclusive Stores, Hobby and Craft Stores, Online Retailers, Other Sales Channels), and By Geography (North America, Europe, APAC, ROW).
The Stuffed and Plush Toys Market is expected to grow with a CAGR of 6.5% during the forecast period of 2023 to 2033
The growth of this market has sparked over the recent years, not only among the child demographic but also among adults. Increasing disposable incomes, growing influence of social media websites, and a rise in the gifting culture have contributed to the market’s expansion. They are no longer restricted as a children’s toy, as they are being purchased and used by everyone. GenZ people can often be observed using a plush toy as an emotional support toy, or just to get a hi of dopamine. Apart from this, the sudden rise in its popularity can also be attributed to special edition and rare plushies, where collectors come into sight.
Insights on types of Products
By types of Stuffed toys, the market is segmented into cartoon toys, traditional stuffed animals, battery operated toys, action figures & model play, dolls & playsets, customizable stuffed toys, special feature toys, and puppets. Stuffed animals have a broad appeal and are a significant segment in the market due to their popularity. This segment holds a share of more than 40% in the market, and the segment is expected to grow furthermore. Cartoon toys and action figures plushies also hold considerable share in the market. There has also been an observant rise in the demand for customizable plush toys. Some of the companies are also releasing limited-edition stuffed toys to capture the market. cartoon toys by Disney and LEGO are majorly demanded by the children’s demographic. Action-figure plushies and couple stuffed toys find their demand among the adult demographic, and the demand is expected to surge in the forecast period.
People are inclined towards eco-friendly stuffed toys
Organic soft toys and plushies are new into the market, and their demand is steadily growing among the consumers who are environmentally and sustainably conscious. These toys are made with organic fabrics and stuffings, and made with natural materials free from any synthetic stuff. These are majorly demanded by the upper middle class and the upper-class demographic, as they lie in the higher price range. Our Green House, Bears for Humanity, Hamleys, Natural Baby Mama are a few brands that manufacture organic stuffed toys, free from any pesticides, toxic dyes, and allergens. The market is expected to grow as awareness among people grows, and there is a space expected in the R&D department for the same. Companies are expected to come up with innovative designs and characters to cater to diverse consumer preferences.
Why Adults are Spending big on Plushies for Themselves
The demographics in the toys market has changed significantly in the past couple of years. More and more adults are spending on toys for themselves. Primary reasons behind such a stress is people’s constant need of connecting with their lost childhood, getting emotional support, or maybe treating a toy as a coping mechanism for stress. There was a major boost in soft toys and plushies demand specially during the covid period, as people were stuck at home looking for things to do. Squishmallows is one of the brands which has gained popularity in the recent years in the adult fanbase. They have a soft and huggable design, and are filled with plush fillings that make them cuddly. This brand has gained significant visibility and popularity through social media platforms such as Instagram and TikTok. Fans share their collections, trade, or sell rare Squishmallows, and participate in online communities dedicated to the brand. This active online presence has contributed to the growth of the Squishmallows community and increased their overall appeal.
Distribution Channels
The primary division in distribution channels can be done as online channels and offline channels. Online retail platforms such as eBay, Amazon, and other specific toy store websites are a convenient way for consumers to access their favorite brand and kind of plushie toy. Aside their reach to a global consumer base, they also offer customer discounts and schemes based on any festivities/events. The offline channel is still more commonly used for buying stuffed and plush toys, as these toys are bought for their soft texture and comfort, which one first prefers to feel and then buy. Gift shops and souvenir stores are also common distribution channel as they cater to tourists and visitors.
Regional Landscape
Looking at the global market, North America holds the biggest market share for their demand in stuffed and plush toys; primarily in United States and Canada. This trend is being followed in APAC Countries (such as China, Japan, and India) as there has been an improvement in the disposable income levels in these countries. There has also been a wave of boost in demand of kawaii items in Japanese and Indian markets, where certain plush toys have hit the market charts. Themed plush toys and action figure stuffed toys are expected to experience a surge in demand. The ongoing trade war between China and United States since January 2018 has affected the production process of stuffed toys, which has made them to increase investments in other countries like Indonesia, Bangladesh, and Vietnam.
Competitive Landscape
The competitive landscape for stuffed toys and plushies market is vastly diverse and contains all types of producers – licensed stuffed toy producers like Disney, LEGO, Walt Disney, etc.; Exclusive stuffed toy stores like Build-a-Bear Workshop; or Multi-brand Retail stores like Funko, Hamleys, etc. Individuals are also entering this segment with their small business, such as operating a crochet stuffed toy business from an Instagram/Facebook Page. Most of these market players have chains of stores established all over the world, and their distribution channels are solid and well-maintained. They practice partnerships, acquisitions, and mergers as a way of strategic growth and expansion of business. Branded stuffed toys are mostly preferred by a majority of collectors and buyers. There has been a trend of stuffed toy companies on increasing their portfolio and entering into partnerships to get trademark rights on certain catchy themes, like currently with all the craze of Barbie movie and Oppenheimer releasing in July 2023, there is an expected surge in the demand of thematic toys, which will certainly impact the stuffed and plush toys market.
Recent Strategic Developments
Years considered for this report
Stuffed and Plush Toys Market Research Report Analysis Highlights
Stuffed and Plush Toys Market Segments
By Product Type (Revenue, US $Billion, 2023 - 2033)
By Material Type (Revenue, US $Billion, 2023 - 2033)
By Stuffing Material (Revenue, US $Billion, 2023 - 2033)
By Price Range (Revenue, US $Billion, 2023 - 2033)
By Sales Channel (Revenue, US $Billion, 2023 - 2033)
By Geography (Revenue, US $Billion, 2023 - 2033)
Stuffed and Plush Toys Market Players
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