Thursday, September 11, 2008

Toy Industry is Excess of $86 Billion Market by 2010 World Wide

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Are you involved with the Toy Industry? If so then I must really congratulate you for being part of a highly lucrative industry. 

For those who are involved in the business of making and selling of toys for children have an excellent future. 

Even though video and computer games have become popular and the toy industry were initially scared of being edged out, however as they say when things become tough the tough gets going.

The toy industry with their continued innovation and love to amuse the children the world over with all kinds of wonderful and colorful toys have been able to increase their sales volume. 

Parents of children and the children themselves have not lost their love for toys as was so in the past when computers and play stations were not around. 

Sales for toys are simply booming. According to the latest report made available by one of USA's leading Market Research group the NPD, the global market for toys would touch $86.3 billion if not more by 2010. 

The Global Toy Trends and Forecast by NPD provides a detailed pattern of toy sales since 2004, the world over. The report also provides detailed analysis of toy sales in different countries and demographic buying pattern in each region based on gender and age group of the people buying toys. 

According to the latest findings the toy industry have been able to increase the volume of sales for toys to $71.96 billion in 2007. 

This figure is five percent more than the $68.5 billion in sales the previous year i.e. in 2006. 

As per the report the following is the sales pattern in various countries.

  • 33% in North America
  • 30% in Europe
  • 24% in Asia

The report has also observed that as per current trend in toy sales as well as further expansion of the toy market in Asia, the growth rate is expected to reach 18% by 2010 in the largest continent. 

It is expected that Asia would soon be able to catch up with Europe in terms of volume of sales for toys and would shortly be able to outpace them. 

The BRIC countries comprising of future economic giants namely Brazil, Russia, India and China are largely responsible for contributing to the engine of growth for toys. 

These BRIC market is already comprising of 11.2% of the toy market in 2007. Earlier it was only 8.8%. 

Although sales for toys in the USA has been lately disappointing however once the downturn in the world economy ends NPD hopes there would be a revival in the percentage of global sales volume for toys in the United States and there is still greater hope for the Toy Industry to make money while the children the world over continues to play. 

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