Asia-Pacific: Toy Market 2024

Toy Market Size in Asia-Pacific

In 2021, the Asia-Pacific toy market decreased by -6.8% to $X, falling for the second year in a row after six years of growth. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.0% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Toy Production in Asia-Pacific

In value terms, toy production dropped to $X in 2021 estimated in export price. Over the period under review, production showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 20% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell modestly in the following year.

Toy Exports

Exports in Asia-Pacific

In 2021, toy exports in Asia-Pacific surged to X tons, growing by 23% compared with 2020 figures. Overall, exports showed buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 82% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, toy exports soared to $X in 2021. In general, exports recorded a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporting country with an export of around X tons, which recorded 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 little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to toy exports from China stood at +7.3%. 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-Pacific, with a CAGR of +48.7% from 2012-2021. By contrast, Hong Kong SAR (-9.5%) illustrated a downward trend over the same period. While the share of Thailand (+9.9 p.p.) and China (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest toy supplier in Asia-Pacific, comprising 88% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.7% 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-Pacific amounted to $X per ton, increasing by 9.8% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, toy export price increased by +41.5% against 2016 indices. The pace of growth was the most pronounced in 2014 an increase of 68% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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-Pacific

In 2021, purchases abroad of dolls and toys increased by 6.9% to X tons, rising for the second year in a row after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, toy imports surged to $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Hong Kong SAR (X tons), Japan (X tons), Australia (X tons) and South Korea (X tons) represented roughly 77% of total imports in 2021. Indonesia (X tons), China (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), New Zealand (X tons) and Sri Lanka (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, Japan ($X), Hong Kong SAR ($X) and Australia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 63% share of total imports. These countries were followed by South Korea, China, Taiwan (Chinese), New Zealand, Indonesia, Malaysia and Sri Lanka, which together accounted for a further 29%.

In terms of the main importing countries, Sri Lanka, with a CAGR of +41.5%, saw the highest growth rate of 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-Pacific stood at $X per ton in 2021, surging by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat 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 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 Malaysia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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