BUILDING THE FUTURE OF TOYCONOMY
In the year 2020 , global toy industry stood at around USD 95 billion , of which India ’ s share was a little over 1 %. This is a significantly small number for a country which is the second most populated in the world and has over 300 million children in the age group 0-14 years . However , this small size also means there is a tremendous opportunity to grow this sector , on the back of country ’ s strong economic growth , a large domestic market , rising disposable income , low domestic per capita spend on toys and new channels for sales such as e-commerce .
A recent report ‘ State of play : India ’ s toy story- Unboxing fun and beyond ’ by KPMG - FICCI projects a two - fold growth opportunity for the Indian toy market by 2025 . While providing significant insights into the Indian toy industry and its growth potential , it highlights that India not only has a high export potential in toys such as dolls made of plastic and wood , the country could also become a major hub for electronic toy exports such as STEM toys , video game consoles , etc . India could target a 2 per cent share of global exports by 2025 by focusing on high value
Page 4 | Kids India Magazine - Dec 2021