Know How Indian Toy Market has Potential to Double to $ 2bn by 2025

Indians have been doing great in the export import business for the last one year. India is witnessing its highest exports in recent times. Export-import course online will give you a clear view of which product you can do your business. India is again set to break its record in the toy market. The Indian toy market, which is currently estimated at $1 billion has the potential to double itself by 2025. The Indian toy industry to grow to $2-3 billion by 2025. Join the import-export course in Ahmedabad to learn more about topics related to the export import business. The domestic toy demand is forecasted to grow at 10-15% against the global average of 5%. The Indian toy industry is only 0.5% of the global industry size indicating a large potential growth opportunity.   The toy manufacturers in India are mostly in NCR, Maharashtra, Karnataka, Tamil Nadu, and clusters across central Indian states.

Indian Toy Market Growth-
  • India has one of the largest young populations and India’s toy industry is witnessing a rapid growth.
  • Another reason can be India has boycotted many of the Chinese products and China was the main export of toys to India. Because of boycotting people are not buying Chinese products thus Indian manufactures are growing.
  • China being the world’s largest exporter of toys was giving competition to Indian manufactures. Due to recent disruptions in the supply chain, a vast untapped potential has been realised within our domestic market.

The increasing domestic demand for toys in India is also being catalysed by the country’s strong economic growth and rising disposable income. The nature and techniques of play are fast evolving. Today there are different and advanced toys available. The advanced technology and machinery has encouraged manufacturers to provide modern and innovative toys. The market is brimming with a wide array of both traditional and modern toys. The past few years have seen a lot of new developments and growth within the toy industry in India. At present, the electronic toys and games as well as the battery-operated toys are not yet being manufactured in India.  Digital & technology advancement in toys is leading to rising application of artificial intelligence, especially in STEM toys.

Toy industry has a critical role in bringing play to every child not only in India but all over the world. I mean who has not played with toys in childhood. Currently 15 percent of the toys demand is met indigenously, while 85 per cent is imported from different countries like China, Malaysia, US, and Netherlands. India gears up to leverage the potential through well-laid-out policy measures, the over dependency on imports can be reduced to 60 per cent.

Domestic Toy Industry key factors:
  • Promoting quality toys and maintaining the affordability of those quality products are the two key pillars.
  • Newer and more innovative products being introduced into the Indian market.
  • The Indian toy market provides a vast opportunity to be tapped as most of the Indian population is below age 25.

The toy industry plays an important role in bringing the gap between day-to-day studies and practical hands-on learning.   Do give us a visit. 

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