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Polyester Soft Toys Market Overview
Polyester Soft Toys Market size
is estimated to grow at a CAGR of 7.6% during the forecast period 2023-2030.
Polyester Soft Toys are toys made from polyester fiber like polyethylene
terephthalate which is derived from purified terephthalic acid and monoethylene
glycol. The rich properties of polyester fiber such as soft cushioning,
insulation, less shrinkage and mildew resistance are driving its market demand
to be used in soft toys. Furthermore, factors such as the rapid increase in the
children population, a growing number of kindergarten & nursery schools and
bolstering growth in government investments in childcare are driving the growth
of the Polyester Soft Toys industry. However, the government regulations related
to the safety of children's toys are anticipated to pose a challenge in the
growth of the Polyester Soft Toys industry. The disruptions caused by the COVID-19
pandemic affected the Polyester Soft Toys industry outlook as the lockdown
restrictions reduced the demand for toys in the market resulting in less usage
of polyester fiber for making soft toys.
Polyester Soft Toys Market Report Coverage
The “Polyester
Soft Toys Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an
in-depth analysis of the following segments in the Polyester Soft Toys
Industry.
Key Takeaways
- North America dominates the Polyester Soft Toys industry due to significant growth witnessed by children populations over the years which is influencing the demand for Polyester Soft Toys in the region.
- Setting up of kindergarten and childcare institutions for child development has accelerated the demand for Polyester Soft Toys which has positively impacted the Polyester Soft Toys industry outlook.
- Various regulations relating to toy quality control can limit the usage of polyester in making soft toys thereby negatively impacting the Polyester Soft Toys Market size during the forecast period.
Figure: North America Polyester Soft Toys Market Revenue, 2021-2027 (US$ Million)
Polyester Soft Toys Market Segment Analysis – By Toys Type
The traditional stuffed animals
held the largest share in the Polyester Soft Toys Market share in 2021 and is
forecasted to grow at a CAGR of 7.8% during the forecast period 2022-2027. Traditional
stuffed animal toys such as teddy bears, mammalian pets and other recognizable
animals such as elephants and zebras provide a sense of safety, predictability
and comfort to children during their growing stage. Also, traditional stuffed
animal toys unlike action figures and dolls playset improve the socialization
and language skills of children especially one’s age between 3-5 years thereby
providing them with perfect companionship. Thus, owing to their advantageous
features over action figures and doll playsets, the traditional stuffed animal
toys demand is anticipated to show a significant increase, thereby positively
impacting the usage of polyester fiber such as polyethylene terephthalate.
Polyester Soft Toys Market Segment Analysis – By Distribution Channel
The offline channel held the largest
share in the Polyester Soft Toys Market share in 2021 and is forecasted to grow
at a CAGR of 8.1% during the forecast period 2022-2027. Offline distribution
channel including gift shops and toy stores provides a wider range of soft toys
made from polyester fiber such as polyethylene terephthalate. Moreover, unlike the
online distribution channel, the offline channel provides the options of
physical toy inspection, store assistance, various discount rates & offers
and instant return of the toy if found defective. Thus, such advantageous
features of the offline distribution channel over online will increase its
preference over the online distribution channel, thereby contributing to the
segment growth of the offline distribution channel during the forecasted
period.
Polyester Soft Toys Market Segment Analysis – By Geography
North America held the largest share in the Polyester Soft Toys Market share in 2021 up to 42%. The demand for Polyester Soft Toys in the region is significantly influenced by the rapid increase in the children population in the major countries such as the US, Canada and Mexico. For instance, according to US Census Bureau, in 2021, the population of children aging between 0-5 years stood at 24.6 million showing a 5% increase from 2020’s population number. Furthermore, according to Statistics Canada, in 2021, the population of children aging between 0-14 years stood at 6.01 million showing a 3.5% increase in comparison with 2016’s population number. Such growing strength of children has increased the demand for stuffed and plush toys, thereby increasing the usage of polyester fiber such as polyethylene terephthalate driven from purified terephthalic acid and monoethylene glycol, resulting in a positive market growth in the North American region during the forecasted period.
Polyester Soft Toys Market Drivers
Rapid Increase in Children Population
The global
children population has shown a significant increase over the years on account
of the decrease in death rate, high fertility rates, rapid urbanization and
accelerating immigration. For instance, according to the World Bank, in 2021,
the global children population stood at 1.98 billion showing an increase of 3%
in comparison 2015 population. Such an increase in the population of children
has accelerated the demand for soft and plush toys consisting of stuffed
animals, action figures and dolls, especially for toddlers. Thus, this has
simultaneously increased the usage of polyester fiber made from purified
terephthalic acid and monoethylene glycol for making such toys, thereby
positively impacting the growth of the Polyester Soft Toys industry during the
forecast period.
Growing Number of Kindergarten and Nursery Schools
Places
like kindergarten and nursery schools play a significant role in child
development as it provides an opportunity for children to develop their social
skills and build a relationship with other children which helps them in
growing. The rapidly growing children population has accelerated demand for
such institutions resulting in an overall increase in their number. According
to the China Ministry of Education, in 2021, the number of pre and nursery
schools stood at 294,832 units showing a 1.1% increase over 2020’s number.
Furthermore, according to US National Centre for Education Statistics, in 2019,
the number of kindergartens, nurseries and elementary schools stood at 70,039
units showing a 1% increase in comparison to 2016’s number of units. Such an increase
in the number of these institutions has boosted the demand for soft toys that
are used for language development and play skills, thereby having a
simultaneous increase in the market demand for polyester fiber which constitute
the major raw material for such toys.
Polyester Soft Toys Market Challenge
Stringent Government Regulation Relating to Toy Quality
Polyester
fiber though forms a major raw material for manufacturing soft toys, however,
the chemicals used in making such fiber make it very sensitive to skin. Stringent
regulations have been imposed by the governments to keep proper quality checks
of toys made from such compounds. For instance, the Toys (Quality Control)
Order 2020 passed by the Indian Government seeks to tighten the quality norms
for toys both manufactured and imported in India to provide safer toys for
children. Also, the December 2021 updated US Consumer Product Safety Commission
provides certain rules and regulations related to the materials used in toy
manufacturing. Such regulations could pose a challenge in the growth of the Polyester Soft Toys industry, thereby negatively impacting the Polyester Soft Toys Market size during the forecasted period.
Polyester Soft Toys Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyester Soft Toys Market. The top 10 companies in Polyester Soft Toys Market are:
- Mattel Inc.
- Bandai Namco
- Hasbro
- Tomy Company
- Simba Dickie Group
- Spin Master Ltd.
- Busies LLC
- Barbie
- Fisher Prince
- Playmobil
Recent Developments
- In April 2022, Mattel Inc collaborated with Lucasfilm to launch Star Wars Galactic Pals plush toys for children consisting of characters such as Wookiees, Ewoks, Jawas and Rodians.
- In February 2022, Tomy Company which is one of the leading manufacturers of soft and plush toys launched “My Fuzzy Friend” a plush toy that clings to children's arms, makes cute gestures and speaks in a cut voice.
- In October 2021, Simba Dickie Group formed a partnership with Xilam Animations where the companies will target to expand the product line of the Xilam Animations famous Oggy and the Cockroaches plush toys among children aging between 3-6 years.
Relevant Reports
Report
Code – CMR 0118
Report
Code – CMR 0498
Report Code – CMR 56848
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