Educational toys are instructive toys used for social, intellectual, and emotional development of infants, preschoolers, and students belonging to elementary and middle schools. These toys include activity sets, DIY craft kits, construction sets, play doughs, and math and science kits among others. It helps in developing certain skills in children or teaching them about a particular subject.
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Rising Consciousness Regarding Child Cognitive Development to Drive Demand among Individual Customers
Key end users of educational toys are individual customers and wholesale purchasers. Their sales are high among wholesale purchasers. Rising demand for educational toys in schools is promoting their wholesale purchases. Increasing implementation of Science, Technology, Engineering and Mathematics (STEM) learning in K-12 schools is contributing to the growth of the segment. Schools are using educational toys and dummies to provide a hands-on learning experience to students. Increasing emphasis of market players on product innovation is also likely to supplement the growth of the segment. For instance, in January 2018, Sony Global Education developed a new educational toy, Koov, for teaching coding to children and it was launched in China. The product has been introduced at elementary, junior high schools, and cram schools in cities such as Shanghai and Beijing.
Sales of educational toys for individual use is expected to rise at a phenomenal pace through 2025. Increasing consciousness among parents regarding cognitive development of their children is widening the base of individual customers. Rising disposable income is also supporting the growth of the segment.
According to a report added by Radiant Insights, Inc.; increasing inclination toward online sales channel is anticipated to provide a significant push to the educational toys market. Consumers, especially parents, use online platforms to compare prices, specifications, and other features, which affect their purchasing decisions. Market players are boosting their presence on social media as the platform acts as a better mode of communication and advertising features of their products. Growing investments in the development of educational toys based on eco-friendly raw materials are estimated to bode well for the market in coming years.
Countries such as China and Japan are poised to emerge as promising destinations for key players during the forecast period (2017 to 2025). Some of the key companies in the market are MGA Entertainment, Goldlok Toys, Melissa & Doug, Simba-Dickie Group, and Lego.
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