Toys & Hobby - Singapore
Singapore- In 2024, the Toys & Hobby market in Singapore is projected to generate a revenue of US$922.9m.
- It is anticipated that the market will experience a yearly growth rate of 3.76%, as measured by the Compound Annual Growth Rate (CAGR) from 2024 to 2029.
- The largest segment within this market is Sports Equipment, which is estimated to have a market volume of US$432.3m in 2024.
- When compared globally, China leads the way in terms of revenue generation, with an expected revenue of US$68.5bn in 2024.
- When considering the population of Singapore, it is calculated that each individual contributes approximately US$152.50 in revenue in 2024.
- In Singapore's Toys & Hobby market, the demand for educational and STEM-focused toys has been steadily increasing.
Definition:
The Toys & Hobby market refers to a wide range of products designed for entertainment, leisure, and educational purposes. This market includes several categories, such as traditional toys and games, musical instruments, and sports equipment. The market is driven by the demand for products that offer engaging experiences and promote skill development, creativity, and social interaction among individuals of different ages and backgrounds. Key trends in the market include the adoption of technology, the focus on sustainability, the rise of e-commerce channels, customization, subscription services, educational value, and health and wellness.
Structure:
The Toys & Hobby market is segmented into three main segments:
- The Toys & Games segment includes products such as dolls, action figures, card games, puzzles, and building blocks. This segment is characterized by the demand for classic, nostalgic, and educational toys that stimulate imagination, problem-solving, and social skills.
- The Musical Instruments segment includes products such as guitars, pianos, drums, and other instruments for music making. This segment is driven by the passion for music and the desire to learn and express oneself through artistic means.
- The Sports Equipment segment includes products such as skis, tennis, golf, balls, and other equipment for outdoor and indoor sports activities. This segment is characterized by the demand for products that promote physical exercise, adventure, and competition.
Additional Information:
The Toys & Hobby market comprises revenue and average revenue per capita. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Hasbro, Mattel, Lego, Nintendo, and Electronic Arts. These companies are leaders in their respective segments and are known for their innovative products, brand recognition, and strategic partnerships with popular franchises and characters. For more information on the data displayed, use the info button right next to the boxes.
In-Scope
- Traditional toys and games, such as dolls, model vehicles, building blocks, puzzles, action figures, board games and educational toys
- Musical instruments, such as pianos, violins, guitars, drums, musice production devices and accessories of musical instruments
- Sports equipment, such as skis, surfboards, tennis rackets, balls, golf clubs, gym systems, tents and fishing equipment
Out-Of-Scope
- Digital games software, such as mobile games, computer games and video games
- Gaming hardware, such as, VR headsets, gaming PC and gaming consoles
- Music software and apps, such as Ableton Live, GarageBand and Serato DJ
- Sports apparel and footwear, such as running shoes, athletic shirts and leggings
- Gardening tools, outdoor furniture and do-it-yourself kits
- Gambling equipment, such as roulette wheels, roulette tables, slot machines and poker tables
