China: Toy Market 2024

Toy Market Size in China

After four years of growth, the Chinese toy market decreased by -25.9% to $X in 2021. Over the period under review, consumption, however, showed a remarkable increase. Toy consumption peaked at $X in 2020, and then contracted significantly in the following year.

Toy Production in China

In value terms, toy production declined modestly to $X in 2021 estimated in export price. Overall, production continues to indicate a resilient increase. The growth pace was the most rapid in 2017 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced modestly in the following year.

Toy Exports

Exports from China

Toy exports from China soared to X tons in 2021, growing by 21% against 2020. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 112% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, toy exports surged to $X in 2021. Over the period under review, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for toy exports from China, accounting for a 34% share of total exports. Moreover, toy exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), sixfold. The third position in this ranking was held by Germany (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+7.2% per year) and Germany (+9.3% per year).

In value terms, the United States ($X) remains the key foreign market for dolls and toys exports from China, comprising 28% of total exports. The second position in the ranking was taken by the UK ($X), with a 4.5% share of total exports. It was followed by Japan, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+13.1% per year) and Japan (+14.7% per year).

Export Prices by Country

In 2021, the average toy export price amounted to $X per ton, increasing by 14% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 105% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Toy Imports

Imports into China

In 2021, imports of dolls and toys into China soared to X tons, picking up by 16% on the previous year. Over the period under review, imports showed a strong increase. The growth pace was the most rapid in 2015 when imports increased by 40%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, toy imports skyrocketed to $X in 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 41%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Vietnam (X tons), Hungary (X tons) and Japan (X tons) were the main suppliers of toy imports to China, together comprising 44% of total imports. Denmark, the Czech Republic, Indonesia, Mexico, Thailand, Poland, Malaysia, Germany, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +50.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest toy suppliers to China were Japan ($X), Vietnam ($X) and the Czech Republic ($X), with a combined 44% share of total imports. Denmark, Poland, Hungary, Indonesia, Mexico, Thailand, Germany, South Korea, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 49%.

Mexico, with a CAGR of +61.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average toy import price amounted to $X per ton, picking up by 12% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, toy import price increased by +72.3% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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