South-Eastern Asia: Toy Market 2024

Toy Market Size in South-Eastern Asia

The Southeast Asian toy market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded buoyant growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Toy Production in South-Eastern Asia

In value terms, toy production contracted slightly to $X in 2021 estimated in export price. Overall, production posted a resilient increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Toy Exports

Exports in South-Eastern Asia

For the sixth year in a row, South-Eastern Asia recorded growth in shipments abroad of dolls and toys, which increased by 30% to X tons in 2021. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 169% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, toy exports fell to $X in 2021. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the main exporting country with an export of around X tons, which amounted to 76% of total exports. Vietnam (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (7%). Malaysia (X tons) took a little share of total exports.

Thailand was also the fastest-growing in terms of the dolls and toys exports, with a CAGR of +48.7% from 2012 to 2021. At the same time, Vietnam (+13.2%) and Indonesia (+4.9%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. Thailand (+61 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia, Vietnam and Indonesia saw its share reduced by -14.8%, -16.1% and -23.5% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) remains the largest toy supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was held by Indonesia ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam stood at +23.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+3.8% per year) and Malaysia (+2.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, dropping by -29.1% against the previous year. Overall, the export price showed a abrupt decline. The growth pace was the most rapid in 2013 when the export price increased by 21% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 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 Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.2%), while the other leaders experienced more modest paces of growth.

Toy Imports

Imports in South-Eastern Asia

Toy imports declined to X tons in 2021, shrinking by -7.5% compared with the previous year. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 111%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, toy imports rose rapidly to $X in 2021. Over the period under review, imports, however, continue to indicate moderate growth. The pace of growth was the most pronounced in 2017 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand was the key importer of dolls and toys in South-Eastern Asia, with the volume of imports amounting to X tons, which was near 68% of total imports in 2021. Indonesia (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together took near 17% share of total imports. The following importers - Singapore (X tons), Cambodia (X tons), Myanmar (X tons) and the Philippines (X tons) - together made up 12% of total imports.

Thailand was also the fastest-growing in terms of the dolls and toys imports, with a CAGR of +51.1% from 2012 to 2021. At the same time, Cambodia (+37.2%) and Myanmar (+13.5%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (-1.0%), Singapore (-4.1%) and the Philippines (-18.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Cambodia increased by +64 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest toy importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Malaysia ($X), together comprising 63% of total imports. These countries were followed by the Philippines, Cambodia and Myanmar, which together accounted for a further 21%.

In terms of the main importing countries, Cambodia, with a CAGR of +37.6%, 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 22% against the previous year. Over the period under review, the import price, however, recorded a pronounced reduction. The pace of growth appeared the most rapid in 2019 an increase of 61%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Myanmar ($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 Philippines (+34.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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