Thanks to India’s neo buoyant middle class and a fast growing population of children, the demand for toys is on an upswing, and like never before! In fact, India’s toys import is galloping ahead at double-digits with China accounting for about 97% of the total foreign supply. Add high profit margins to demand and you have two big reasons to believe that toy imports is an idea worth toying with!
TDB intelligence unit | January 2017 Issue | The Dollar Business
A toy isn’t just a toy. It’s big business too! Well, that’s what numbers prove. According to StrategyR, a San Jose (California, USA) based market research firm, “The global toys and games market is projected to exceed $135 billion in value by CY2020, driven by innovation, technology development and launch of smart toys and innovative games.” And if you thought India’s market wasn’t part of this growth story, you are wrong. In fact, riding on the back of a neo buoyant middle class and a fast growing population of children, India’s toy industry is expected to grow at a CAGR of 20% by 2020.
However, unlike the global scenario where international brands take the lead, Indian market is dominated by unorganised players that account for about 90% of the total domestic production. If industry experts are to be believed, imports constitute over 50% of the Indian toys market. Are importers listening?!
The Firt Toy
Interesting, but the history of toys dates back to days much before the Mickey Mouses, yo-yos, Legos and Donald Ducks of the world. As per archaeological evidence, Egyptians and Romans used toys that were made of clay, wood, stone, bone, ivory, leather and wax – some of them can be dated ...
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