The Global Stuffed and Plush Toys Market is estimated to expand at a CAGR of ~6.9% throughout the forecast period of 2022-2032, and it is estimated to be valued at US$ 17689.4 Million by the end of 2032.
Driven by the increasing demand for animated and action movies, the USA is set to emerge as the primary player in the global stuffed and plush toys market. Leading manufacturers in this sector are strategically focusing on partnerships, mergers, and acquisitions with movie makers and animated cartoon creators to diversify their product offerings and effectively promote their merchandise.
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For instance, Mattel, Inc. made a significant move in 2019 by entering into an international licensing agreement with Sanrio Co., Ltd. The collaboration aims to capitalize on the popularity of Hello Kitty and other trademarked characters from Sanrio’s portfolio. Under this agreement, Mattel will design and develop an array of dolls, play sets, as well as stuffed and plush toys inspired by these beloved characters, further expanding their product range in the market. This type of collaboration is an example of how manufacturers are leveraging strong intellectual properties to gain a competitive edge and drive growth in the stuffed and plush toys market.
Rising preference for purchasing stuffed or plush toys for leisure and other purposes due to growing passion for vintage cartoon and anime characters will boost the market. The significant number of children in the globe come from middle-class families, where consumers have significant spending power due to rising surplus incomes.
The growth of the world’s middle-class population is the key driver for the stuffed and plush toys market as demand for durable items and eco-friendly items grows. Discretionary income allows middle-class customers to purchase entertainment items such as stuffed and plush toys, expanding the worldwide stuffed and plush toys market’s customer base.
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Key Takeaways from the Stuffed & Plush Toys Market Study
- Action figures and model play are anticipated to boost the growth of the stuff and plush toys market
- In terms of material, natural/organic segment is expected to lead the growth in the stuffed & plush toys market.
- Based on sales channel, hypermarkets and supermarkets are anticipated to grow at an increasing pace during the forecast period.
- The online retail segment is anticipated to rise at a rapid rate in the stuff toys market over the upcoming decade.
“Stuffed and plush toy manufacturers are developing strategies to expand their product line to gain competitive edge. Some of the key companies are focusing on innovation to increase product durability and features through extensive investments.” Says an FMI analyst.
Who is winning?
Leading manufacturers of stuffed and plush toys are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of stuffed and plush toys market globally.
Major players present in the stuffed and plush toys market are J Sainsbury plc., Hallmark Cards, Inc., Nakajima USA, Inc., Mattel, Inc., Bandai Co., Ltd., Lego System A/S, Hasbro, Inc., Simba-Dickie Group, H. Scharrer & Koch GmbH, Spin Master Ltd., Mary Meyer Corporation, Hamleys Global Holdings Limited., Ganz, Inc., GIANTmicrobes, Nici AG, Build-A-Bear Workshop, Inc., Ty Inc., Steiff Beteiligungsgesellschaft mbH., The Boyds Collection, Ltd., Suki Gifts International Ltd. among others.
Global Stuffed and Plush Toys Market by Category
By Product Type:
- Cartoon Toys
- Traditional Stuffed Animals
- Battery Operated
- Action Figures & Model Play
- Dolls & Playsets
- Customizable Stuffed Animals
- Special Feature Plush toys
- Puppets
By Material Type:
- Synthetic
- Natural/Organic
- Blended Material
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- META
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