The Asia Pacific STEM toys market is estimated to witness a strong CAGR of 8.0% during the forecast period (2021-2027). The end-users in Asia Pacific are highly price-sensitive and restrain themselves from buying high-priced premium items. Thus, the penetration of high-priced toys and games remains quite low, and end-users depend on local low-cost brands. However, Asia Pacific could be looked upon as a large potential market for board games during the forecast period. The annual saving ratio in Asia Pacific countries is higher than in North America, especially in the US and European countries. The average annual saving ratio of China is about 50%, while India and South Korea are over 30%. Thus, these figures are anticipated to make the Asia Pacific region the largest potential market during the forecast period.
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Further, the consumer market in the Asia Pacific region, particularly in Southeast Asian countries, is poised to grow at a significant rate on account of the higher spending power of buyers in various countries. The lifestyle improvements coupled with the rising consumer expenditure are anticipated to enhance the penetration of branded toys from multinational manufacturers in the Asia Pacific countries during the forecast period.
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In addition, the region is also witnessing high growth in the number of middle-income families. These families are increasingly improving their lifestyles and adopting new lifestyles. The consumer market in the region, particularly in the Southeast Asian countries, is poised to grow at a tremendous rate because of the higher spending power of buyers in these countries. Advances in lifestyle, coupled with rising consumer expenditure, are likely to increase the penetration of educational toys in Asia Pacific countries during the forecast period.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segments Covered- by Age Group, Category, and Sales Channel
- Countries Covered- China, India, Japan, South Korea, and Rest of Asia Pacific
- Competitive Landscape- Hasbro, Inc.; LEGO System A/S; Mattel; Melissa & Doug; and Ravensburger
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from pre-COVID forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia Pacific 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.
