Latin America and the Caribbean: Toy Market 2024

Toy Market Size in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in the Latin American toy market, when its value increased by 8.4% to $X. The total consumption indicated buoyant growth from 2012 to 2021: its value 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, consumption decreased by -8.3% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Toy Production in Latin America and the Caribbean

In value terms, toy production reached $X in 2021 estimated in export price. Overall, production saw a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 45%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Toy Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of dolls and toys were finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. Overall, exports, however, showed a deep setback. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, toy exports soared to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, finishing at X tons, which was near 81% of total exports in 2021. Chile (X tons), Colombia (X tons), Brazil (X tons), Guatemala (X tons), Panama (X tons) and Peru (X tons) took a little share of total exports.

Exports from Mexico decreased at an average annual rate of -8.9% from 2012 to 2021. At the same time, Peru (+12.5%), Guatemala (+11.0%), Brazil (+4.9%) and Colombia (+1.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +12.5% from 2012-2021. By contrast, Chile (-7.4%) and Panama (-25.1%) illustrated a downward trend over the same period. While the share of Guatemala (+2.4 p.p.), Brazil (+2.1 p.p.) and Colombia (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-2.2 p.p.) and Panama (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest toy supplier in Latin America and the Caribbean, comprising 86% of total exports. The second position in the ranking was held by Chile ($X), with a 5.3% share of total exports. It was followed by Colombia, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value in Mexico stood at +1.2%. In the other countries, the average annual rates were as follows: Chile (-7.8% per year) and Colombia (+4.3% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 4.3% against the previous year. Over the period under review, the export price showed a prominent increase. The growth pace was the most rapid in 2016 when the export price increased by 83% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Guatemala ($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 (+11.0%), while the other leaders experienced more modest paces of growth.

Toy Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of dolls and toys was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2013 with an increase of 39%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, toy imports soared to $X in 2021. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, 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

In 2021, Mexico (X tons), Chile (X tons), Brazil (X tons) and Peru (X tons) was the largest importer of dolls and toys in Latin America and the Caribbean, achieving 61% of total import. It was distantly followed by Colombia (X tons) and Guatemala (X tons), together comprising a 13% share of total imports. Bolivia (X tons), Argentina (X tons), Ecuador (X tons), Paraguay (X tons), Panama (X tons), Nicaragua (X tons) and El Salvador (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Chile (with a CAGR of +9.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported dolls and toys in Latin America and the Caribbean, comprising 34% of total imports. The second position in the ranking was taken by Chile ($X), with a 14% share of total imports. It was followed by Brazil, with an 11% share.

In Mexico, toy imports increased at an average annual rate of +1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Chile (+2.2% per year) and Brazil (-2.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 13% against the previous year. Over the period under review, the import price recorded a strong increase. The most prominent rate of growth was recorded in 2014 when the import price increased by 109% against the previous year. The level of import peaked 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 Mexico ($X per ton), while Nicaragua ($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 (+23.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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