The global toy industry isn’t showing any signs of slowing down, with the newest report from market research firm The NPD Group indicating a worldwide increase of nearly 5% in 2010 driven primarily by strong performance in Asia.
According to Global Toy Market Estimates: 2011 Edition, global toy sales grew by 4.7% in 2010 to US$83.3 billion.
While Asia saw a growth rate that roughly doubled the average (9.2%), the US remains the largest market with sales reaching US$22 billion, followed by Japan, China, the UK and France. The toy market remains concentrated within these top five countries, which captured more than 50% of global sales. These countries have experienced consistent economic growth and contain large populations of children – both the primary drivers for the global toy market.
NPD also continues to see strong growth in emerging markets, with Brazil, Russia, India and China showing a growth of 13%. Due in part to exchange rate fluctuations, 2010 sales in Europe were down slightly. In 2007, sales in Europe accounted for 32% of the global market; in 2010, they accounted for 28%.
Given the global uptick, NPD is optimistic that the 2011 toy market will continue to grow. A European rebound is also expected.