Stuffed Animal & Plush Toys Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Stuffed Animal & Plush Toys Market


The global stuffed animal & plush toys market size was valued at USD 7.98 billion in 2018 and is anticipated to expand at a CAGR of 7.61% over the forecast period of 2019 to 2025. Growing target population across the globe is expected to propel the market growth. High impact of various cartoon shows and action movies also plays a key role in boosting the demand for stuffed animal and plush toys.
In addition, rising demand for the custom-made plush toys across the globe impels manufacturers to focus more on product innovation, thereby fueling market growth. Thus, constant product innovations, such as toys with advanced features like GPS trackers and sensors, are projected to contribute to the product demand.
 

Moreover, companies have undertaken several business strategies, such as M&A and partnerships. This will also have a positive impact on the growth of this stuffed & plush toys market over the years to come. For instance, Reliance Retail acquired the largest toy store, Hamleys, to expand its geographical reach.
North America is anticipated to be the largest regional market by 2025 due to increasing sales of custom-made toys, such as action figures and cartoon toys. On the other hand, Asia Pacific is estimated to register the fastest CAGR over the forecast period. The offline distribution channel segment is expected to account for the largest market share by 2025.
                                                                
Product Insights of Stuffed Animal & Plush Toys Market

Based on product, the stuffed & plush toys market is segmented into stuffed animals, cartoon toys, action figures, and others. The stuffed animal products segment led the global market in 2018 accounting for a share of more than 42%. The segment is projected to expand further at a steady CAGR over the forecast period. The cartoon toy product segment is anticipated to register the fastest CAGR of 9.32% over the forecast period. Rising popularity of various cartoon shows is estimated to drive the demand for these toys, thereby contributing to the segment growth.
Distribution Channel Insights
Offline distribution channel was the largest segment in the stuffed animal & plush toys market and generated a revenue of USD 6.89 billion in the year 2018. Offline distribution channels include gift stores, toy stores, hypermarkets, specialty stores, etc. Availability of a wide range of products in these stores is the key growth-driving factor for the segment. Moreover, various offers and discounts on branded products and store assistants provided by these stores will boost the segment growth.
 

Online channel is expected to be the fastest-growing segment in the market with a CAGR of 10.75% from the year 2019 to 2025. Rapidly expanding e-commerce sector, especially in emerging regions, and rising number of internet and smartphone users are the key factors driving the product sales through online platforms. These platforms also provide home delivery, a number of payment options, such as Cash on Deliver (COD), which will drive the segment further. Moreover, online channels offer 24*7 service.

Regional Insights of Stuffed Animal & Plush Toys Market

North America holds the largest market share in the global industry due to high demand for different types of the stuffed & plush toys, mainly in U.S. and Canada. Moreover, demand for custom-made soft toys is projected to drive the regional market further. Asia Pacific is expected to have the fastest CAGR of more than 9% over the forecast period. This growth can be attributed to the rising demand for stuffed animal products in countries, such as China, Japan, and India. Improved standards of living and rising disposable income levels in these countries will boost the product demand further.

Market Share Insights of Stuffed Animal & Plush Toys Market

Some of the key companies in the market are Mattel, Inc.; Bandai Namco Group; LEGO A/S; Hasbro, Inc.; Simba Dickie Group; Spin Master Ltd.; Budsies, LLC; Giantmicrobes, Inc.; and Ty, Inc. These companies have undertaken several competitive strategies, such as mergers and acquisitions, partnerships, and new product development.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Stuffed Animal & Plush Toys Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global stuffed animal & plush toys market report on the basis of product, distribution channel, and region:


Product Outlook (Revenue, USD Billion, 2019 - 2030)


Stuffed Animals


Cartoon Toys


Action Figures


Others


Distribution Channel Outlook (Revenue, USD Billion, 2019 - 2030)


Online


Offline