💡 A Deep Dive into India's $ 1.8 Billion Toy Industry
ReadOn Insights December Report: India's Toy Industry. Read on!
ReadOn Insights is our latest initiative to make quality industry insights available to all business owners, employees, professionals and investors and enable them to think sharper, deeper, smarter.
In the sixteenth edition, we look at the $ 1.8 billion toy industry in India.
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👉 India's toy industry is expected to grow at a 10.23% CAGR till 2030, much faster than the global 4% CAGR.
👉 Rising disposable income, a push for 'Vocal for Local', growing awareness of educational toys and evolving consumer preferences are driving growth for the industry.
👉 Children are no longer the only consumers of toys. There is a whole "kidult" market brewing, thanks to the popularity of superhero franchises and nostalgic collectibles. In fact, LEGO reported that adults now comprise 25% of its total sales!
👉 Until 2020, India was a net importer of toys. Since then, we have become a net exporter of toys, thanks to increase in import duties and govt initiatives to boost the domestic toy market. This also presents a huge export opportunity for toys.
With established brands and new age brands stirring innovation with coconut, the future of this industry looks very exciting! Read on 👇🏻
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