Korea Toys Market- Strategic Plans by Globally Industry Demand, On Going Trends, Regional Overview, Business Growth and Forecast to 2027

Research Nester has released a report titled Korea Toys Market –Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The United Nations Inter-agency Group for Child Mortality Estimation (2019), in one of its statistics stated that mortality rate of children in-between the age group 5-14 years reached to 0.75 deaths per 1000 children aged 5 in the year 2018 as compared to 1.19 deaths per 1000 children aged 5 in the year 2010. Moreover, the World Bank stated that the population of Republic of Korea reached to 51.64 million in the year 2018 as compared to 49.94 million in the year 2011.

The statistics portray the decreasing mortality rate of children in Korea which has been made possible with the favorable initiatives of the government. Moreover, the increasing population in the nation is also anticipated to help contribute to the overall population of kids in the nation. As such, toy manufacturers are increasingly raising their toy production so as to mitigate the rising demand for toys, backed by the increasing expenditure of parents on their children for products that help them learn and also provide adequate knowledge. The decreasing mortality rate of children coupled with the increasing expenditure of parents on their children are some of the factors anticipated to drive the growth of the Korea toys market.

The Korea toys market was valued at around USD 2900 million in the year 2018 and is anticipated to attain a highest CAGR of around 4% over the forecast period 2019-2027 and further reach a value of around USD 4300 million in the year 2027. The market is thriving on the rising demand for replica of cartoon characters that are being displayed in television shows, as well as for goods whose replica can be made as toys, coupled with the rising influence for toys from social media. Additionally, the Korea toys market is further anticipated to attain an absolute $ opportunity of around USD 1400 million during the assessment period.

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The Korea toys market is segmented by product into outdoor & sports toys, preschool toys, building sets, action figures, dolls, art & crafts, plush, vehicles and others. Among these segments, the outdoor & sports toy segmentwhich held a market share of around 31% in the year 2018is anticipated to gain massive market share in the year 2027 by growing at a CAGR of around 5% during the forecast period. The segment is also further anticipated to and attain a value of around USD 1300 million by the end of 2027and also gain an incremental $ opportunity of around USD 70 million in the year 2027 as compared to the previous year.

The market is also segmented by distribution channel into online and offline. The offline segment is further sub-divided into hypermarket, specialty stores, supermarket and others. Among these segments, the hypermarket segment, which held a market share of around 41% in the year 2018, is anticipated to grow at a CAGR of around 3% during the forecast period on account of high footfall observed in hypermarket as hypermarkets are very large establishments and they have a wide array of products which are displayed to lure customers. The segment is further predicted to gain a value of around USD 1100 million by the end of 2027and attain an incremental $ opportunity of around USD 10 million in the year 2027 as compared to the previous year.

However, concerns for the high price of few toy products as well as for the instability in the total kids’ population in the nation are some of the factors estimated to act as a barrier to the growth of the Korea toys market.

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This report also studies existing competitive scenario of some of the key players of the Korea toys market, which includes profiling of Infomark Corporation (KOSDAQ: 175140), VTech Electronics North America,LLC, YOUNGTOYS, Inc., EFOLIUM Co., Ltd., Mimi World Co., Ltd., AURORAWORLD Corp. (KOSDAQ: 039830), Iringo Co. Ltd., Hamleys, Mattel (NASDAQ: MAT) and Sieper GmbH.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the reporttitled Korea Toys Market – Demand Analysis & Opportunity Outlook 2027”, analyses the overall Korea toys industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Korea toys market in the near future.

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