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Puzzles - Armenia

Armenia
  • Armenia's revenue in the Puzzles market in 2024 is US$1.1m.
  • It is projected to have an annual growth rate of 3.15% (CAGR 2024-2029).
  • When compared globally, United States generates the highest revenue with US$968.7m in 2024.
  • In terms of per person revenues, in Armenia generates US$0.41 in 2024.
  • Armenia's puzzle market is experiencing a surge in demand, driven by the country's rich cultural heritage and growing interest in brain-stimulating activities.

Definition:

Puzzles are games or toys that require users to assemble pieces into a complete picture, shape, or design. These pieces can be made of various materials such as cardboard, wood, metal, or plastic, and come in various sizes and levels of difficulty. The puzzle market is driven by consumer demand for engaging and educational games, as well as the growing popularity of puzzle-related activities such as escape rooms and puzzle hunts. Advances in technology have also led to the development of digital puzzles, which can be played on mobile devices or computers.

Additional Information:

The puzzle market comprises revenue and average revenue per capita, with figures generated through both online and offline sales channels. The market serves only the B2C sector, with manufacturers targeting both children and adult hobbyists. Key players in the market include companies such as Ravensburger, Buffalo Games, and Hasbro. These companies are known for their diverse product lines, brand recognition, and global distribution networks. For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Jigsaw puzzles, such as such as Ravensburger's Jolly Octopus and 1000-piece landscape puzzles
  • Logic puzzles, such as Sudoku, Crossword Puzzles, Brain Teasers, and Rubik's Cubes
  • Puzzle games, such as Tangram, Connect Four, Tetris, and Peg Solitaire

Out-Of-Scope

  • Playing Cards, such as poker cards, bridge cards, or tarot cards
  • Board games, such as Settlers of Catan, Codenames and Werewolf
  • Video games that involve puzzle-solving or challenges, such as Portal and The Witness

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jul 2024

Source: Statista Market Insights

Most recent update: Jul 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Jul 2024

Source: Statista Market Insights

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.

Key Market Indicators

Notes: Based on IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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