online channels segment is expected to gain market share in the coming years and is estimated to grow at a CAGR of 5.9% during the forecast period.
WILMINGTON, DELAWARE, UNITED STATES, January 21, 2024 /EINPresswire.com/ — The action figure toys market was valued at $9 billion in 2021, and is estimated to reach $15.3 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
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The reason for the popularity of action figure toys is that it is a highly competitive market. As a result, there are numerous companies that manufacture these toys, and each one is competing to gain a stronger foothold in the market. This means that prices are kept low due to which the customers are benefitted as they can get these items at affordable rates. These products are sold all over the world and are in high demand. Hence, there is plenty of scope for expansion in this market. Moreover, people all over the world enjoy purchasing and collecting action figure toys which is expected to boost the growth of the market in the coming years.
Engaged players in the industry are striving to make more environment-conscious decisions about their product portfolio, especially in terms of action figure toy packaging. It includes window box packaging, carded bubble packaging, PVC packaging, and tube packaging. The players are focusing on minimalistic usage of plastic in their products resulting in the action figure toys market trends. A plethora of initiatives has been launched in the past few years ranging from adopting recycled packaging materials and minimal packaging to adopting bio-based plastics instead of their petroleum counterpart. Furthermore, the actual figure is made of a more durable plastic resin, such as acrylonitrile butadiene styrene (ABS). Softer plastics and nylon are appropriate for costume components such as body suits, capes, and face masks. To decorate the figure, acrylic paints are used in a variety of colors. Miniature electronic components that provide light and sound effects may be found in more elaborate toys.
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The global action figure toys industry has been impacted profoundly amidst the outbreak of the coronavirus. The outbreak was first witnessed in China resulting in a lockdown and the ceasing of production activities across the world. The demand for toys is expected to slightly taper globally, owing to supply chain disruptions and the closure of playgroup schools, kids’ play centers, and entertainment across the world.
The global action figure toys market is segmented into material type, age group, gender, sales channel, and region. By material type, the market is classified into plastic-based, silicon-based, and others. By age group, it is studied across up to 5 years, 5 to 10 years, and above 10 years. By gender, it is distributed into boys-related, girls-related, and neutral. By sales channel, the market is divided into hypermarket/supermarkets, specialty stores, departmental stores, online channels, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players profiled in the action figure toys market analysis include Hasbro Inc., Mattel Inc., LEGO System A/S, Spin Master, Bandai Namco Entertainment Inc, McFarlane Toys, National Entertainment Collectibles Association, Hot Toys Limited, Square Enix, and Kotobukiya.
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Key findings
Region-wise action figure toys market size is anticipated to grow in Asia-Pacific at a robust CAGR of 10.2% during the forecast period.
By material type, the plastic-based action figure toys led in terms of market share in 2021, and are expected to gain market share in the action figure toys market forecast period.
As per gender, the boys-related action figure toys market share is leading in terms of market share and is predicted to dominate the same in the coming years.
Depending on age group, the 5 to 10 years segment accounted for about two-fi share of the action figure toys market in 2021, and is poised to grow at the highest CAGR during the forecast period.
On the basis of sales channel, action figure toys market growth in the online channels segment is expected to gain market share in the coming years and is estimated to grow at a CAGR of 5.9% during the forecast period.
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Originally published at https://www.einpresswire.com/article/682821528/action-figure-toys-market-set-to-reach-usd-15-3-billion-by-2031-with-a-sustainable-cagr-of-5-3
