Global Construction Toys Market 2019-2023 | Introduction of Eco-Friendly Toys to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 12, 2019--
The global construction toys market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global construction toys market 2019-2023. (Graphic: Business Wire)
Popularity of computers, TVs, and cell phones among kids is compelling parents to look for ways to engage them in other physical activities. This has increased the demand for toys such as construction toys that can help in the mental, physical, and intellectual development of children. These toys also help nurture creativity and develop positive self-esteem among children. The growing focus of parents on overall child development is expected to boost the growth of the market during the forecast period.
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As per Technavio, the introduction of eco-friendly toys will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Construction Toys Market: Introduction of Eco-Friendly Toys
The growing demand for toys has increased the concerns over the safety of the raw materials used in construction toys. Parents and educators are increasingly opting for green toys made of eco-friendly raw materials. To capitalize on this trend, many established players and startups are introducing eco-friendly construction toys in the market. These factors are expected to boost the growth of the global construction toys market during the forecast period.
“Increased adoption of multi-channel marketing and promotional strategies and the rising popularity of construction toys inspired from comic characters are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Construction Toys Market: Segmentation Analysis
This market report segments the global construction toys market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the rising middle-class population in the region.
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Five Forces Analysis
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PUB: 11/12/2019 07:30 AM/DISC: 11/12/2019 07:30 AM