Cloth Toys Market Demand Analysis and Huge Growth Expected by 2030 | Cloth Toy Market to Reach $14,291.90 Million in 2030
PORTLAND, PORTLAND, USA, Feb. 1, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Cloth Toy Market by Product Type, Age Group and Distribution Channel: Analysis Global Opportunities and Industry Forecast, 2021-2030 “The Cloth Toys Market size is expected to reach USD 14,291.90 million by 2030, registering a CAGR of 3.3% from 2021 to 2030.
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1. Character plush segment holds the major share of 33.1% in 2020
2. The up to 5-year segment holds the bulk of 45.9% in 2020
3. The specialty store segment holds the bulk of 33.1% in 2020
4. North America region holds the bulk of 31.2% in 2020
5. By distribution channel, the department store segment was valued at $2,138.00 million, or 20.5%
Rising demand for games in bars and cafes and increased interest of children and young people in cloth toys are driving the growth of the global cloth toys market. On the other hand, tariffs to limit market expansion, the rise of digitalization and smartphone penetration are hampering the market. On the contrary, a lower carbon footprint and the advent of environmentally friendly projects, coupled with untapped opportunities in developing countries and rapid growth in the retail sector, are expected to create more opportunities for market players.
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The outbreak of the pandemic has had a positive impact on the global cloth toy market. Several sectors of the toy industry have experienced significant growth during the lockdown. Children have been confined to their homes during the COVID-19 pandemic, which has increased sales of fabric toys to keep children engaged. However, labor shortages and supply chain disruptions hampered the production and market delivery network. The report segments the global soft toys market on the basis of type, product type, distribution channel, age group and region.
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Based on product type, the character plush segment accounted for the largest market share in 2020, contributing more than a third of the total share. On the other hand, the doll segment is estimated to experience the fastest CAGR of 4.3% from 2021 to 2030.
Based on age group, the up to 5 years old segment contributed the highest market share in 2020, contributing more than two-fifths of the total market share, and is expected to dominate the market during the forecast period. On the other hand, the 10-year segment above is expected to show a CAGR of 4.3% from 2021 to 2030.
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Based on the region, North America contributed the highest share in 2020, holding almost a third of the total share, and is expected to maintain its dominance throughout the forecast period. The Asia-Pacific region is expected to show the fastest CAGR of 4.0% from 2021 to 2030.
Key Players of Global Cloth Toys Market analyzed in the research include Safari Ltd., Mattel, HASBRO, Inc., Lego System A/S, Build-A-Bear Workshop, Inc., Sanrio Co., Ltd, Goliath Games , RAVENSBURGER AG, CLEMENTONI and Tomy company, ltd.
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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