Owing to benefits such as development of social skills, building trust, social competence, engineering skills, capacity for creative, divergent thinking, motor skills and hand-eye coordination, construction toys is experiencing rapid adoption as opposed to traditional toys, thus fostering progress in global construction toys market. Construction toys are also helpful in improving visual spatial skills in preschool aged children of both genders.
Covid-19 Impact & Market Status
The coronavirus pandemic restricted toys manufacturing facilities & activities and shut down the shops as well as manufacturing facilities entirely. At the time covid-19 has accelerated the global construction toys market and emerging trends of construction toys for diverting children from using mobile phones and concentrate on building cognitive capability through physical construction toys. The parents are moving toward developing child’s mental capability thus pivoted adoption of construction toys giving rise to global construction toys market.
This report studies the economic performance of the global construction toys market over past few years and examines different aspects of the “keyword” market that are leading to growth of global construction toys market. The research report plays a significant role in presenting crucial insights about the global construction toys market in terms of current market scenarios, impact of Covid-19 on the market, growth constraints, and underlying opportunities.
Blocks Toys Product Type Segment to Emerge as the Most Lucrative Segment
The global construction toys market is classified into bricks, blocks, and tinker toy based on product types. Among these, the blocks segment is poised to incur the highest revenue streams owing to several advantages such as construction toys develop social competence, engineering skills, capacity for creative, divergent thinking, motor skills, and hand-eye coordination.
Wood Construction Toys to Remain Atop
The global construction toys market is classified into wood, metal, polymer, stone, iron, wool, silk based on Raw Material. Among these, the wood construction toys type accounted for maximum revenue growth in 2020 and is expected to see remarkable growth in forecast years 2021-2028. Wood construction toys are environment friendly, safe, eco-friendly, durable, build motor skills, and environmentally safe. Also they help improving numeracy, motor skills and problem solving. These are the key benefits that have increased the demand of wooden construction toys driving the global construction toys market.
Retail Distribution Channel to Ensure Revenue Maximization
The global construction toys market is classified into wholesale, retail, direct-to-consumer sales channel based on Distribution Channel. Among these, the Retail Distribution Channel held the largest market revenue and is projected to grow substantially due to consumers approaching retail stores for construction toys realizing their benefits.
North American Region to Render Ample Investment Avenues
Based on regional performance and segmentation, the North American region is likely to garner the lion's share of revenues in the forecast years in global construction toys market. This is evident from the rapid development of toy industry especially in countries such as the US and Canada.
Additionally, technological developments owing to dominance of several research initiatives, commercial mergers of research institutes with leading companies, besides corporate M&A agreements are clearly improving growth feasibility in the region. Following suit the European market is also emerging as a lucrative region based on similar market dynamics for global construction toys market. Moreover, in the forecast years, the Asia Pacific region is also likely to emerge as a significant region for global construction toys market development backed by intense developments across emerging countries such as China and India.
The need for cognitive & behavioural development and critical thinking for problem solving and developing creative important in education has improved the reliance on construction toys thereby driving the global construction toys market.
Advantages such as multiple education benefits improved creativity, problem solving skills, fine motor skills, cooperative play, hand-eye coordination are encouraging further adoption of construction toys. These factors collectively influence thumping growth in global construction toys market, ensuring an overall market growth of 20.47 Bn USD by 2028 with an annual growth rate of 9.799% through the forecast span.
Construction toys is a toys set for children that contain a series of basic components that allow children to create objects of their own design and again later rebuild it to some another design. The global constructions toys market has been growing as it is playing a crucial role in pedagogical repertoire.
Factors such as construction toys helping build spatial reasoning in children, growing trend of holistic development of children through developing creativity and imagination, parents becoming aware about the benefits of construction toys in cognitive development of child, and construction toys developing skills in fields like science, technology, engineering and maths have increased the demand for construction toys driving the global construction toys.
However, parents becoming aware about the low quality material used in preparing construction toys, new alternatives coming up in the market such as online games shifting children preferences, lack of advanced knowledge, short life cycle of products, educational apps being launched in the market that tend to be more directive than physical construction toys are some key factors hampering the global construction toys market. Furthermore, construction toys manufacturers implementing best practices and solutions in tackling these challenges, governments supporting businesses to stay competitive and sustainable, and leading players and emerging start-ups launching new and creative products and other initiatives are anticipated to be growth opportunities to the global construction toys market.
Some of the key players include K’NEX (Basic Fun, Inc.), Polydron, Nanoblock, Schylling Inc, Magformers, KnuckleStrutz, PlayMonster LLC, The LEGO Group, Spin Master Ltd, Mattel, and Tegu. The companies are rapidly coming up with new products lines by modifying them and closely replicating with real life scenarios as well as expanding their business operations in domestic and international markets. These brands offer a wide range of benefits providing consumers a superior user experience. The construction toys suppliers have been aggressive in meeting consumer demands providing smart solutions along with customised options. This has increased their market performance in global construction toys market.
Latest Innovations in the Global Construction Toys Market: a Snapshot
- Lego, Danish toy production company based in Billund recently announced that it is building a new factory in Asia that will meet the rising demand of construction toys.
- Trebl System LLC, lately introduced a new construction toy that encourages play based learning and cognitive development. Trebl’s Trebl Building Brick Sets are unique it its design that offer innovative ways to children to make dynamic structures thereby allowing infinite creativity.
Construction Toys Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 20.47 billion|
|Growth Rate||CAGR of 9.799% during 2021-2028|
|Segment Covered||Product Type, Raw Material, Distribution Channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||K’NEX (Basic Fun, Inc.), Polydron, Nanoblock, Schylling Inc, Magformers, KnuckleStrutz, PlayMonster LLC, The LEGO Group, Spin Master Ltd, Mattel, and Tegu.|
Key Segments of the Global Construction Toys Market
Product Type Overview, 2018-2028 (USD Billion)
- Tinker toy
Raw Material Overview, 2018-2028 (USD Billion)
Distribution Channel Overview, 2018-2028 (USD Billion)
- Direct-to-consumer sales channel
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa