GCC: Toy Market 2024

Toy Market Size in GCC

In 2021, the GCC toy market increased by 20% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.9% against 2018 indices. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Toy Production in GCC

In value terms, toy production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 487%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Toy Exports

Exports in GCC

After three years of decline, shipments abroad of dolls and toys increased by 1.9% to X tons in 2021. Over the period under review, exports, however, saw a pronounced decrease. The growth pace was the most rapid in 2017 when exports increased by 57%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, toy exports soared to $X in 2021. Total exports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 31% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the main exporter of dolls and toys in GCC, with the volume of exports finishing at X tons, which was approx. 80% of total exports in 2021. It was distantly followed by Oman (X tons), mixing up a 14% share of total exports. Bahrain (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to toy exports from the United Arab Emirates stood at -5.4%. At the same time, Oman (+78.8%) and Bahrain (+18.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +78.8% from 2012-2021. While the share of Oman (+14 p.p.) and Bahrain (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-12.8 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest toy supplier in GCC, comprising 75% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 13% share of total exports.

In the United Arab Emirates, toy exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+29.6% per year) and Oman (+75.9% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, jumping by 24% against the previous year. Export price indicated prominent growth 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. The pace of growth appeared the most rapid in 2018 when the export price increased by 75%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+9.1%), while the other leaders experienced mixed trends in the export price figures.

Toy Imports

Imports in GCC

In 2021, the amount of dolls and toys imported in GCC rose sharply to X tons, surging by 8.4% against 2020 figures. Over the period under review, imports, however, recorded a pronounced setback. The growth pace was the most rapid in 2015 with an increase of 30%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, toy imports surged to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 41%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates imports structure, together comprising 77% of total imports. Kuwait (X tons) took the next position in the ranking, followed by Oman (X tons) and Qatar (X tons). All these countries together took approx. 19% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of +15.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported dolls and toys in GCC, comprising 64% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 19% share of total imports. It was followed by Kuwait, with a 7.1% share.

In the United Arab Emirates, toy imports increased at an average annual rate of +12.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-5.3% per year) and Kuwait (+11.8% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, increasing by 14% against the previous year. Import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +9.3% 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 import price increased by +86.5% against 2016 indices. The growth pace was the most rapid in 2020 when the import price increased by 25% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 United Arab Emirates ($X per ton), while Oman ($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 United Arab Emirates (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform