Traditional Toys and Games Market to Witness Robust Expansion by 2031
Traditional Toys and Games Market to Witness Robust Expansion by 2031
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Traditional Toys and Games Market to Witness Robust Expansion by 2031
The market growth is attributed for rising investments in traditional toys and games manufacturing to full-fill demand, especially in regions expected to create higher demand in the future such as North America, and Asia-Pacific. For instance, The LEGO Group announced a 33,850 m2 expansion at its Monterrey factory. The $500.0 million investment will enhance production capacity to suit long-term demand in the US and abroad. The extension includes a fully automated high-bay warehouse and a facility specialized in assembling and decorating LEGO goods, which will be finished in 2022. The multi-year project will also feature a new molding building, which is expected to open in late 2024 and contribute to a 50.0% increase in manufacturing capacity.
Moreover, the investments are majorly focused towards developing regions, wherein the income and customer base are steadily increasing, and stimulating manufacturers to increase capacity. For instance, in December 2022, Mattel Malaysia Sdn. Bhd. announced its plant expansion to be completed by 2023. MMSB, the world's largest Hot Wheels production company, is also the exclusive manufacturer of Hot Wheels singles, the best-selling toy worldwide in 2021. The plant's current average output capacity is around 9.0 million automobiles per week. This targeted, strategic investment aligns with Mattel's Capital Light strategy, which aims to boost manufacturing capacity, productivity, and technical capabilities while lowering costs and improving operating efficiencies. The plant extension will help Hot Wheels grow, with a projected 20.0% increase in production capacity by 2025.
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Market Coverage
The market number available for – 2023-2031
Base year- 2023
Forecast period- 2024-2031
Segment Covered-
By Product type
By Material
By Distribution Channel
By Age Group
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- LEGO System A/S, Woodfield Baby Products Co. Ltd, Mattel, Inc., Hasbro, Inc., and MGA Entertainment, Inc., among others.
Traditional Toys and Games Market Report Segment
By Product type
Outdoor and Sports Toys
Construction Sets
Dolls and Plush Toys
Vehicles
Educational Toys
Action Figures
Others
By Material
Plastic
Metal
Textiles
Wood
By Distribution Chanel
Hypermarkets/ Supermarkets
Specialty Retail Stores
Online Market places
By Age Group
Years
2-4 Years
5-8 Years
9-14 Years
A full Report of Traditional Toys and Games Market is Available @https://www.omrglobal.com/industry-reports/traditional-toys-and-games-market
Traditional Toys and Games Market Report Segment by Region
North America
United States
copyright
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Latin America
Middle East and Africa
Company Profiles
Classic International Holdings Ltd
Clementoni Spa
Crayola, LLC
Epoch Co., Ltd
Funskool (India) Ltd
Green Toys Inc.
Kids2, LLC.
Lusha Systems Inc.
Manhattan Toy Co.
Pressman Toy Corp.
Ravensburger Ltd
Simba Dickie Group
Spin Master Ltd
Tomy Company Ltd
Woodfield Baby Products Co. Ltd
Zephyr Toymakers Pvt. Ltd
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