Asia: Toy Market 2024

Toy Market Size in Asia

In 2021, the Asian toy market decreased by -8.7% to $X, falling for the second year in a row after six years of growth. Overall, consumption, however, continues to indicate strong growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Toy Production in Asia

In value terms, toy production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a strong increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 22%. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Toy Exports

Exports in Asia

In 2021, exports of dolls and toys in Asia surged to X tons, rising by 23% on the previous year. Over the period under review, exports enjoyed resilient growth. The growth pace was the most rapid in 2016 with an increase of 81%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, toy exports surged to $X in 2021. In general, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the major exporter of dolls and toys, making up 81% of total exports. It was distantly followed by Thailand (X tons), achieving a 10% share of total exports. Hong Kong SAR (X tons) and Vietnam (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Thailand (+48.7%) and Vietnam (+13.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +48.7% from 2012-2021. By contrast, Hong Kong SAR (-9.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and China increased by +9.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest toy supplier in Asia, comprising 88% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 4.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China amounted to +16.7%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-6.3% per year) and Vietnam (+23.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 9.7% against the previous year. Export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, toy export price increased by +41.4% against 2016 indices. The pace of growth appeared the most rapid in 2014 an increase of 68%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while China ($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 Asia

In 2021, purchases abroad of dolls and toys increased by 6.8% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 10%. As a result, imports reached the peak of X tons; afterwards, it flattened through to 2021.

In value terms, toy imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of dolls and toys, namely Thailand, Hong Kong SAR and Japan, represented more than half of total import. South Korea (X tons) held the next position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held near 12% share of total imports. Saudi Arabia (X tons), Kazakhstan (X tons), Indonesia (X tons), China (X tons), Taiwan (Chinese) (X tons), Iraq (X tons), Israel (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +51.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest toy importing markets in Asia were Japan ($X), Hong Kong SAR ($X) and South Korea ($X), together accounting for 52% of total imports. These countries were followed by the United Arab Emirates, China, Kazakhstan, Taiwan (Chinese), Iraq, Israel, Saudi Arabia, Indonesia and Malaysia, which together accounted for a further 34%.

Among the main importing countries, Iraq, with a CAGR of +40.5%, recorded 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 Asia stood at $X per ton in 2021, picking up by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+24.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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