The India STEM toys market is expected to exhibit a rapid CAGR of 8.5% during the forecast period (2021-2027). The growing middle class, importance of education, and growing economy make India a lucrative market for STEM toys. Brands like LEGO, Mattel, Hamleys, and more have been expanding their business in India, in turn benefiting the toy market in the country. Despite the high rentals associated with organized stores and floor space in shopping malls, the major retail chains are indulging in the strategy of opening more outlets to outplay the competition posed by a huge network of unorganized retailers in the country. Standalone stores are considered more effective in reaching out to the audience. For instance, over the past few years, major players like Funskool has launched around 16 brand outlets in tier-II cities for pursuing expansion activities. The highly educated parents are involved in purchasing qualified and certified STEM toys of higher price points, thereby contributing to the growth of organized retail formats. Similarly, with more than 120 stores, Hamleys is a major chain in the country, followed by Toys “R” Us. However, the growth in online sites like Amazon and Flipkart has helped a long way in reaching smaller towns and cities where the online segment is also expected to pose an absolute growth of over 60% during the forecast period.
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Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- by Age Group, Category, and Distribution Channel
· Country Covered- India
· Competitive Landscape- Hasbro, Inc.; LEGO System A/S; Mattel; Melissa & Doug; and Spin Master
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A full Report of India STEM Toys Market is Available at: https://www.omrglobal.com/industry-reports/india-stem-toys-market
India STEM Toys Market Report Segment
By Age Group
· 0-3 Years
· 3-8 Years
· 8-12 Years
· 12+ Years
By Category
· Science
· Technology
· Engineering
· Mathematics
By Distribution Channel
· Online
· Offline
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
