Toys & Games - Luxembourg

Luxembourg

in Luxembourg, a country known for its strong economy and high standard of living, is not exempt from the influence of the global Toys & Games market.
In 2024, the revenue in this market segment amounts to US$57m.
This figure represents the total amount of money generated from the sales of toys and games in Luxembourg during that year.
Looking ahead, the market is projected to experience a steady annual growth rate of 2.51% from 2024 to 2029.
This Compound Annual Growth Rate (CAGR) reflects the expected increase in revenue over the specified period.
In comparison to other countries around Worldwide, in the United States stands out as the largest contributor to the Toys & Games market.
In 2024, in the United States is projected to generate a staggering revenue of US$40,110m.
This significant figure highlights the dominance of the United States in this market segment.
To put things into perspective, it is important to consider the per person revenue generated in Luxembourg.
In 2024, each individual in Luxembourg generates approximately US$85.42 in revenue from the Toys & Games market.
This figure is derived by dividing the total revenue by the total population of Luxembourg.
With these numbers in mind, it is evident that the Toys & Games market is a significant contributor to the overall economy of Luxembourg.
The projected growth in this market segment indicates potential opportunities for businesses and investors alike.
Luxembourg's affluent population and emphasis on quality make it a prime market for high-end, educational toys and games.

Key regions: United States, Worldwide, United Kingdom, India, Asia

Definition:

The Toys & Games market includes a variety of products designed for play, entertainment, and educational purposes for children and adults alike. The market is highly diverse and encompasses various product categories such as dolls and stuffed toys, construction sets and models, card games, puzzles, plastic and other toys, and toys for toddlers and kids. These products are designed to stimulate creativity, imagination, and learning in children, while also providing entertainment and relaxation for adults. Technological advancements, changing consumer preferences, and the growing focus on child development and education are some of the factors driving the Toys & Games market.

Structure:

The Toys & Games market can be broken down into several product categories:

Dolls & Stuffed Toys: This category includes toys designed to resemble human or animal figures, such as dolls, teddy bears, and plush toys.
Construction Sets & Models: This category encompasses toys designed to allow children to build and construct objects using various materials, such as blocks, Lego sets, and model kits.
Card Games: This category includes games played using playing cards, such as poker, blackjack, and UNO.
Puzzles: This category encompasses games and toys designed to challenge the mind and problem-solving skills, such as jigsaw puzzles, crossword puzzles, and brain teasers.
Toys for Toddlers & Kids: This category includes toys designed for young children, such as infants and toddlers, that help in developing motor skills, hand-eye coordination, and cognitive abilities, such as building blocks, shape sorters, and activity tables.
Plastic & Other Toys: This category encompasses a wide range of toys made of plastic or other materials, such as action figures, remote control toys, and model cars and planes.

Additional Information:

The 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 Mattel, Hasbro, Lego, Spin Master, and Bandai Namco. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

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Currency

Analyst Opinion

In 2022, the Toys & Games market experienced a steady growth, primarily driven by increased consumer disposable income and a resurgence in demand for traditional toys and games. The market saw a notable shift in preference, with classic toys, board games, and educational toys regaining popularity among consumers. Overall, the Toys & Games market generated a total revenue of US$122.90 billion in 2022, reflecting a 2.9% increase from the previous year's revenue of US$119.50 billion.

The market is dominated by well-established companies such as Hasbro, Mattel, LEGO Group, and Spin Master. These industry leaders hold significant market shares in various product categories, including action figures, dolls, board games, puzzles, and construction sets. Additionally, niche toy manufacturers are emerging, catering to specific interests and segments of the market, adding diversity to the industry landscape.

Looking ahead, several trends are expected to shape the growth of the Toys & Games market. The rising popularity of educational toys that promote STEAM (Science, Technology, Engineering, Arts, and Mathematics) learning is set to drive demand, as parents and educators increasingly seek toys that combine fun and learning. Furthermore, eco-friendly, and sustainable toys are gaining traction as consumers become more environmentally conscious, leading to an increased focus on responsibly sourced materials and manufacturing processes. Licensing agreements with popular franchises and characters from movies, TV shows, and books will continue to be a key strategy for toy manufacturers to leverage brand recognition and drive sales. Moreover, with the proliferation of e-commerce and online retail channels, the accessibility of Toys & Games has expanded, allowing consumers to explore a diverse range of products and make purchases conveniently from their homes. Given these trends, the Toys & Games market is poised for further growth in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.