Games and Puzzles Surpass Construction as Fastest Growing Toy Category Globally in 2016
Global market research company Euromonitor International released today new toys and games industry data. According to the new research, games and puzzles registered 8 percent growth in 2016 – not only outpacing construction toys as the fastest growing toy category globally, but also recording the highest growth for the category since 2002.
North America accounts for one-third of global games and puzzles sales at US$3.2 billion, propelling the category ahead of construction toys with 14 percent growth in 2016. Construction toys experienced a 1.6 percent decline in North America last year – the first negative growth for the category in the region over the past five years.
“Games and puzzles continued to gain popularity among adults, especially in North America,” says Matthew Hudak, toys and games analyst at Euromonitor International. “This surge in popularity made games and puzzles the fastest growing category overall in 2016.”
Globally, construction toys grew 7.8 percent in 2016 compared to double-digit growth from 2015, but continued to hold the largest share of the traditional toys and games market at US$10 billion, followed by games and puzzles at US$9.5 billion.
Construction toys are expected to make a comeback as the fastest growing toys category globally with a forecasted compound annual growth rate of 6.8 percent from 2016 to 2021.
“Continued growth in sales to adults illustrates that children are retaining interest in toys into adulthood on a scale not seen in previous generations,” says Hudak. “Categories with proven multi-generational appeal like construction, remote control, and action figures are therefore expected to see the fastest growth over the next five years.”
To learn more, visit: http://www.euromonitor.com/toys-and-games.