ASEAN: Toy Market 2024

Toy Market Size in ASEAN

In 2021, the ASEAN toy market increased by 4.2% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption posted a prominent increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Toy Production in ASEAN

In value terms, toy production declined to $X in 2021 estimated in export price. Overall, production posted a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 31% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Toy Exports

Exports in ASEAN

Toy exports surged to X tons in 2021, jumping by 30% against the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 169%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, toy exports contracted to $X in 2021. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 26%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) represented the key exporter of dolls and toys, achieving 76% of total exports. It was distantly followed by Vietnam (X tons) and Indonesia (X tons), together committing a 20% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the dolls and toys exports, with a CAGR of +48.7% from 2012 to 2021. At the same time, Vietnam (+13.2%) and Indonesia (+4.9%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. Thailand (+61 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia, Vietnam and Indonesia saw its share reduced by -14.8%, -16.1% and -23.5% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) remains the largest toy supplier in ASEAN, comprising 63% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total exports.

In Vietnam, toy exports expanded at an average annual rate of +23.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+3.8% per year) and Malaysia (+2.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with a decrease of -29.1% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2013 when the export price increased by 21%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.2%), while the other leaders experienced more modest paces of growth.

Toy Imports

Imports in ASEAN

In 2021, toy imports in ASEAN shrank to X tons, which is down by -7.5% against 2020 figures. Over the period under review, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 111% against the previous year. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, toy imports rose sharply to $X in 2021. In general, imports, however, continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 77% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) was the largest importer of dolls and toys, comprising 68% of total imports. Indonesia (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together took near 17% share of total imports. Singapore (X tons), Cambodia (X tons), Myanmar (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the dolls and toys imports, with a CAGR of +51.1% from 2012 to 2021. At the same time, Cambodia (+37.2%) and Myanmar (+13.5%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (-1.0%), Singapore (-4.1%) and the Philippines (-18.0%) illustrated a downward trend over the same period. While the share of Thailand (+64 p.p.) and Cambodia (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Malaysia (-8.6 p.p.), Singapore (-9.3 p.p.), Indonesia (-17.1 p.p.) and the Philippines (-33.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, together accounting for 63% of total imports. These countries were followed by the Philippines, Cambodia and Myanmar, which together accounted for a further 21%.

In terms of the main importing countries, Cambodia, with a CAGR of +37.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, growing by 22% against the previous year. In general, the import price, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2019 an increase of 61% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+34.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform