When the final tally is completed, the 2016 global toy market is expected to exceed a record-breaking US$90 billion in sales.
This impressive figure comes from a new report by The NPD Group, a leading U.S. market research firm, and the International Council of Toy Industries (ICTI).
Commissioned by the U.S. Toy Industry Association, the co-penned NPD/ICTI 2016 Global Toy Market Report is designed to provide analysis for toy companies looking to expand into new markets. It examines growth metrics by region and by country, annual spend per child by country as well as a breakdown of spending by category spending for each of the 11 countries (including Canada), covered by The NPD, said the TIA’s Anne McConnell, senior director of market research & data strategy.
She added, the projected 2016 figure should not be surprising as there has been continued growth of global toy sales over the past five years. For example, sales in 2015 increased four percent over the prior year to $87.4 billion, its greatest year-over-year increase since 2011. North America was the best-performing region in 2015 with sales up by six percent to $28.9 billion.
Finally, the newly published report revealed that a significant portion of global toy sales is driven by licensed toys. While Mexico had the highest penetration of licensed toys in 2015, at 35 percent of sales, the U.S. followed in second place, with 31 percent of total sales coming from licensed toys.
For more information about the report, which is available to eligible Canadian Toy Association members, contact the Toy Industry Association.