(MENAFN- PR Newswire) NEW YORK, May 29, 2023 /PRNewswire/ --
The global inflatable toys market size is estimated to grow by USD 2,043.78 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.02% ,
however, the growth momentum will progress during the forecast period. APAC is estimated to account for
39% of the global market growth during the forecast period.
Another region that offers significant growth opportunities to vendors in North America. The US is the largest market for inflatable toys in North America, followed by Canada with mid-priced toys witnessing restrained market sales and growth, which leads to discounted sales. But
the growing discounted sales of mid-priced toys led to a rise in sales volume growth in the market. Furthermore, the demand for licensed toys that replicate any popular animated series or movie theme is high in Canada, driving the popularity of the toy market in the country. Therefore,
such factors are anticipated to lead to market growth in the region.
For more insights on the historic period (2017 to 2021) and forecast market size (2023
to 2027)
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Technavio has announced its latest market research report titled Global Inflatable Toys Market 2023-2027
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Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
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Inflatable Toys Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on sector (commercial and residential), geography (North America, APAC, Europe, South America, and Middle East and Africa), and distribution channel (offline and online).
The market share growth by the
commercial segment
will be significant for overall market growth during the forecast period. Depending on the available area, inflatable
toys can be easily installed in small to medium spaces. They also
require very less care or maintenance and hence, they are widely used in commercial spaces. Attractive features such as innovative designs and colors in their products incorporated by manufacturers
further drive inflatable toys' popularity among consumers. Thus, the growing popularity of inflatable toys will drive the demand from the commercial sector, which is expected to boost the growth of the segment in the global inflatable toys market during the forecast period.
Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023
to 2027)
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Inflatable Toys Market
– Market Dynamics
Key factor driving market growth
A major factor driving the market growth for inflatable toys is the growing use of inflatable toys for outdoor activities. This demand can be attributed to the
portability and ability to be deflated and transported. This makes them an excellent alternative for outdoor vacations. Furthermore, parents place a greater emphasis on outdoor play in recent years because it helps kids develop their exploratory skills. Hence, families of working parents frequently take weekend vacations to reconnect.
Additionally,
ground, aerial, and water recreation activities gain in popularity and participation rates across all age groups, driving the demand for inflatable toys. Thus,
factors such as the development of the tourism industry, rising urban populations, and the popularity of outdoor activities, among others drive the market demand for inflatable toys during the forecast period.
Leading trends influencing the market
A leading trend fueling the growth of the market is the increasing marketing initiatives. The global vendors deploy
the integrated marketing communication strategy by leveraging communication channels such as newspapers, magazines, and social media to sell their products.
And, as a part of the same strategy,
vendors create TV advertisement campaigns followed by marketing campaigns, which
include internet pre-roll, a wide-reaching social media and blogging program, and an interactive website. Hence, such trends influence the growth of the inflatable toys market during the forecast period.
Major challenges hindering the market growth
A significant challenge impeding the growth of the inflatable toys market is the growing popularity of digital games and e-games.
The growing global popularity of
digital games and e-games replaces
traditional toys and games such as inflatable toys.
Furthermore, factors including low consumer loyalty toward traditional toys,
inflatable toys, and the introduction of different popular motion-sensing games on digital gaming platforms. Thus, such
growing popularity of digital games and e-games is expected to pose a significant threat to the growth of the global inflatable toys market during the forecast period.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)-
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What are the key data covered in this Inflatable Toys Market report?
CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the inflatable toys market between 2023 and 2027 Precise estimation of the size of the inflatable toys market and its contribution to the market with a focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the inflatable toys market across North America, APAC, Europe, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of inflatable toys market vendors
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Inflatable Toys Market Scope |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 6.02% |
Market growth 2023-2027 | USD 2,043.78 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 5.48 |
Regional analysis | North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution | APAC at 39% |
Key countries | US, China, India, UK, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Bestway Inflatables and Material Corp., BigMouth inc., Blast Zone, FUNBOY, General Inflatables, Guangzhou Aeor Inflatable Co. Ltd., HearthSong, HOLLEYWEB, i2kCo, Intex Corp., Jet Creations Inc., Joyin Inc., Jump Orange, LIttle Tikes, Longbehn and Co Inc., Omega Inflatables Factory, Sunshine Amusement Games, Waddle and Friends Inc., YOLLOY OUTDOOR PRODUCT CO. LTD., and Happy Inflatable Co. Ltd. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |