(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Tabletop Games market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Tabletop Games Market was valued at USD 27.27 billion in 2023, and is expected to reach USD 49.17 billion by 2029, rising at a CAGR of 10.32%. The global tabletop games market reports consist of exclusive data on 40 vendors. The global tabletop games market's competitive scenario is intensifying, with global and domestic players offering diverse products. A few of the major players are currently dominating the market in terms of market share, and some companies are currently dominating the market, such as Asmodee, Hasbro, Mattel, and Ravensburger.
Key strategies include product innovation, mergers and acquisitions, and partnerships to enhance market presence and expand geographical reach. Many tabletop game companies use crowdfunding platforms to gauge interest and secure funding before full-scale production.
North America dominates with the largest share of over 28% of the global tabletop market, followed by APAC. Families with children, millennials, and Zoomers are major drivers of the tabletop games market in North America. As more Americans prioritize quality family time, the demand for tabletop games has surged. North American gamers have preferred lighter, luck-based games like collectible cards and board games, avoiding those requiring cooperative strategy and critical thinking. However, in the past years, there's been a noticeable demand for more complex board games and card & dice games among adults and teenagers.
The Asia-Pacific (APAC) region shows a significant growth rate during the forecast period due to an expanding middle-class population looking to spend quality time. Due to its large population, APAC is a crucial market for consumer goods, including tabletop games. Major economies like China and India play vital roles in this sector's growth. APAC is considered a highly promising market for tabletop games, with fresh demand expected during the forecast period. Furthermore, China is projected to remain the world's largest retail market in scale and influence. Rising disposable incomes have also fueled the increasing sales of tabletop games across the region.
MARKET TRENDS & DRIVERS
Rising Shift Towards Sustainable and Eco-Friendly Practices
Consumers increasingly seek tabletop games that reflect their values as environmental concerns like climate change, deforestation, and plastic pollution become more prominent. This has led to growing demand for games produced in environmentally friendly ways, emphasizing reducing ecological footprints. A key component of eco-friendly tabletop games is the use of sustainable materials, and many companies are shifting to recycled paper, cardboard, and biodegradable plastics for game components, which helps reduce reliance on virgin resources and minimizes waste.
HABA Familygroup, a leading player in the tabletop games and toys sector, is recognized for its strong commitment to sustainability, particularly through its use of natural materials. The company sources wood from sustainable forests certified by the PEFC (Programme for the Endorsement of Forest Certification). Increasingly, companies are pursuing certifications like FSC (Forest Stewardship Council) for wood and paper products and other eco-labels to validate their sustainable practices. These certifications help build trust with environmentally conscious consumers. Crowdfunding platforms like Kickstarter have seen a rise in eco-friendly tabletop game projects.
Strategic Product Innovations
A major trend in tabletop game innovation is the incorporation of digital components. Vendors are increasingly integrating apps, augmented reality (AR), and other digital tools into their games to enhance the gaming experience. This hybrid approach blends the tactile enjoyment of traditional tabletop games with the interactive and dynamic elements of digital gaming. In addition to this, vendors are focusing on introducing new and diverse themes that break away from traditional tabletop game settings. By exploring unique themes, game developers can attract a wider range of audiences and create distinctive experiences that resonate with players.
Legacy and campaign-style games have also introduced a new way of engaging players by offering evolving storylines and game elements that change over multiple sessions. This type of innovation encourages long-term engagement and deeper investment in the game. "Risk Legacy," the first legacy-style game introduced by Hasbro, is a prime example of this trend. By bringing new themes and mechanics, vendors can diversify their product portfolios and appeal to a broader audience.
This is crucial in a market where consumers often switch between different products. Innovations that enhance replayability, such as modular game boards, dynamic rule sets, and evolving storylines, help extend the lifespan of a game, an important factor in a market where consumers are constantly seeking new experiences.
Rise In Demand for Analog Experience
In an age dominated by digital devices, many individuals experience digital fatigue due to constant exposure to screens for work, communication, and entertainment. This has sparked a desire to unplug and seek out activities that don't involve screens. Tabletop games offer a tactile, face-to-face experience that starkly contrasts with the digital world, providing a form of relaxation and connection that digital games and online interactions often fail to replicate.
Tabletop games evoke a sense of nostalgia, reminding players of simpler times spent with family and friends. This connection to the past resonates particularly with older generations who grew up playing these games and now seek to pass these cherished traditions on to younger family members. Gathering around a table to play a tabletop game can evoke fond memories and foster a sense of continuity and tradition within families. In addition, tabletop games offer a multisensory experience that digital games lack.
The physical components of these games, such as cards, dice, boards, and pieces, engage players' senses of touch and sight in a way that digital interfaces cannot. The act of physically moving pieces, shuffling cards, or rolling dice adds a tangible and engaging dimension to the experience that many find satisfying and immersive. As families look for alternatives to screen-based activities, tabletop games provide a screen-free option that encourages face-to-face interaction.
INDUSTRY RESTRAINTS
High Competition from Alternative Gaming Options
The tabletop games market is currently saturated with various games spanning numerous genres and themes. This abundance of options can overwhelm consumers, making it challenging for individual games to gain visibility. Additionally, the popularity of digital games, including mobile apps, online games, and video games, poses a significant alternative to traditional tabletop games.
Digital formats often provide convenience, lower costs, and immediate access, appealing to consumers who might otherwise engage in tabletop gaming. As these digital games continue to develop and offer innovative experiences, they may attract potential players away from the tabletop market, further intensifying competition for leisure time and affecting sales.
Moreover, the extensive range of tabletop games caters to diverse interests and preferences, resulting in a fragmented market. Consumer trends in this space can shift rapidly; what is popular today may not hold the same appeal shortly. The many alternatives complicate predicting and responding to these changes effectively. Furthermore, the sheer volume of available games can lead to decision fatigue, making it harder for buyers to make informed choices. This indecision or hesitation can ultimately hinder the growth of individual games and influence the overall dynamics of the tabletop games market.
SEGMENTATION INSIGHTS
INSIGHTS BY GAME TYPE
The global tabletop games market by product is segmented into board games, dexterity games, tile-based games, and paper & pencil games. The board games segment holds the largest market share in 2023. Board games are a significant category within the broader tabletop games market, encompassing various game types that appeal to different audiences and age groups. The push for more diverse themes, characters, and settings in board games has made the hobby more inclusive.
INSIGHTS BY THEME
The global tabletop games market by theme is categorized into educational tabletop games, strategy & war tabletop games, fantasy tabletop games, sports tabletop games, historical tabletop games, and other tabletop games. The strategy & war tabletop games market shows significant growth with the fastest-growing CAGR during the forecast period. Strategy and war tabletop games have gained popularity due to their engaging and interesting gameplay. These games require players to employ strategic thinking and meticulous planning, fostering a competitive spirit and enhancing decision-making skills. Some well-known strategy and war tabletop games include Risk, Memoir'44, Avalon Hill Axis & Allies, and Twilight Imperium. Strategy and war tabletop games offer several advantages for children of different ages.
INSIGHTS BY DISTRIBUTION CHANNEL
Based on the distribution channel, the online segment shows significant growth, with the highest growth occurring during the forecast period. Online sales channels are a crucial component of the value chain in the tabletop games market. As digitalization continues to dominate a large portion of the market, many vendors are focusing on leveraging this opportunity to reach customers directly through online websites and other digital platforms.
INSIGHTS BY USER GROUP
Based on the user group, the adult segment accounted for the largest global tabletop games market share. Adult tabletop games are explicitly designed for adults, often featuring more complex gameplay and mature themes. These games are typically aimed at players aged 18 and older and may include elements such as explicit language, sexual content, or violence. Adults are drawn to these games to alleviate boredom and stress. To meet this demand, vendors are focusing on creating tabletop games that are strategic and tactical.
VENDOR LANDSCAPE
Key Vendors
Asmodee Hasbro Mattel Ravensburger
Other Prominent Vendors
Buffalo Games Goliath Masters Traditional Games Gibson Rebellion CMON Simba Dickie Group North Star Games Spin Master Games Workshop Reggie IELLO HABA Familygroup Indie Boards and Cards PlayMonster Schmidt Spiele Usaopoly University Games Czech Games Edition Disney Bezier Games Clementoni Funko Grey Fox Games Panda Game Manufacturing Thames & Kosmos Asmadi Games INI Epoch Everlasting Play Imago Group Ludo Fact Learning Resources Looney Labs Melissa & Doug MindWare
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