The Polyester Soft Toys market size is estimated to grow at a CAGR of 7.6% during the forecast period 2022-2027. Polyester Soft Toys are toys made from polyester fiber like polyethylene terephthalate which is derived from purified terephthalic acid and monoethylene glycol. The rich properties of polyester fiber such as soft cushioning, insulation, less shrinkage and mildew resistance are driving its market demand to be used in soft toys. Furthermore, factors such as the rapid increase in the children population, a growing number of kindergarten & nursery schools and bolstering growth in government investments in childcare are driving the growth of the polyester soft toys industry. However, the government regulations related to the safety of children’s toys are anticipated to pose a challenge in the growth of the polyester soft toys industry. The disruptions caused by the COVID-19 pandemic affected the polyester soft toys industry outlook as the lockdown restrictions reduced the demand for toys in the market resulting in less usage of polyester fiber for making soft toys.
Polyester Soft Toys Market Report Coverage
The “Polyester Soft Toys Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Polyester Soft Toys Industry.
By Age – 2-3 years, 3-5 years, 5-6 years and More than 6 years
By Toys Type – Traditional Stuffed Animals, Cartoons, Action Figures, Dolls & Playsets and Others
By Distribution Channel – Online, Offline (Gift Shops and Toy Stores)
By Geography – North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and Rest of the World (the Middle East and Africa)
Key Takeaways
North America dominates the Polyester Soft Toys industry due to significant growth witnessed by children populations over the years which is influencing the demand for polyester soft toys in the region.
Setting up of kindergarten and childcare institutions for child development has accelerated the demand for polyester soft toys which has positively impacted the polyester soft toys industry outlook.
Various regulations relating to toy quality control can limit the usage of polyester in making soft toys thereby negatively impacting the polyester soft toys market size during the forecast period.
Figure: North America Polyester Soft Toys Market Revenue, 2021-2027 (US$ Million)
Polyester Soft Toys Market
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Polyester Soft Toys Market Segment Analysis – By Toys Type
The traditional stuffed animals held the largest share in the Polyester Soft Toys market share in 2021 and is forecasted to grow at a CAGR of 7.8% during the forecast period 2022-2027. Traditional stuffed animal toys such as teddy bears, mammalian pets and other recognizable animals such as elephants and zebras provide a sense of safety, predictability and comfort to children during their growing stage. Also, traditional stuffed animal toys unlike action figures and dolls playset improve the socialization and language skills of children especially one’s age between 3-5 years thereby providing them with perfect companionship. Thus, owing to their advantageous features over action figures and doll playsets, the traditional stuffed animal toys demand is anticipated to show a significant increase, thereby positively impacting the usage of polyester fiber such as polyethylene terephthalate.
Polyester Soft Toys Market Segment Analysis – By Distribution Channel
The offline channel held the largest share in the Polyester Soft Toys market share in 2021 and is forecasted to grow at a CAGR of 8.1% during the forecast period 2022-2027. Offline distribution channel including gift shops and toy stores provides a wider range of soft toys made from polyester fiber such as polyethylene terephthalate. Moreover, unlike the online distribution channel, the offline channel provides the options of physical toy inspection, store assistance, various discount rates & offers and instant return of the toy if found defective. Thus, such advantageous features of the offline distribution channel over online will increase its preference over the online distribution channel, thereby contributing to the segment growth of the offline distribution channel during the forecasted period.
Polyester Soft Toys Market Segment Analysis – By Geography
North America held the largest share in the Polyester Soft Toys market share in 2021 up to 42%. The demand for polyester soft toys in the region is significantly influenced by the rapid increase in the children population in the major countries such as the US, Canada and Mexico. For instance, according to US Census Bureau, in 2021, the population of children aging between 0-5 years stood at 24.6 million showing a 5% increase from 2020’s population number. Furthermore, according to Statistics Canada, in 2021, the population of children aging between 0-14 years stood at 6.01 million showing a 3.5% increase in comparison with 2016’s population number. Such growing strength of children has increased the demand for stuffed and plush toys, thereby increasing the usage of polyester fiber such as polyethylene terephthalate driven from purified terephthalic acid and monoethylene glycol, resulting in a positive market growth in the North American region during the forecasted period.
Polyester Soft Toys Market Drivers
Rapid Increase in Children Population
The global children population has shown a significant increase over the years on account of the decrease in death rate, high fertility rates, rapid urbanization and accelerating immigration. For instance, according to the World Bank, in 2021, the global children population stood at 1.98 billion showing an increase of 3% in comparison 2015 population. Such an increase in the population of children has accelerated the demand for soft and plush toys consisting of stuffed animals, action figures and dolls, especially for toddlers. Thus, this has simultaneously increased the usage of polyester fiber made from purified terephthalic acid and monoethylene glycol for making such toys, thereby positively impacting the growth of the polyester soft toys industry during the forecast period.
Growing Number of Kindergarten and Nursery Schools
Places like kindergarten and nursery schools play a significant role in child development as it provides an opportunity for children to develop their social skills and build a relationship with other children which helps them in growing. The rapidly growing children population has accelerated demand for such institutions resulting in an overall increase in their number. According to the China Ministry of Education, in 2021, the number of pre and nursery schools stood at 294,832 units showing a 1.1% increase over 2020’s number. Furthermore, according to US National Centre for Education Statistics, in 2019, the number of kindergartens, nurseries and elementary schools stood at 70,039 units showing a 1% increase in comparison to 2016’s number of units. Such an increase in the number of these institutions has boosted the demand for soft toys that are used for language development and play skills, thereby having a simultaneous increase in the market demand for polyester fiber which constitute the major raw material for such toys.
Polyester Soft Toys Market Challenge
Stringent Government Regulation Relating to Toy Quality
Polyester fiber though forms a major raw material for manufacturing soft toys, however, the chemicals used in making such fiber make it very sensitive to skin. Stringent regulations have been imposed by the governments to keep proper quality checks of toys made from such compounds. For instance, the Toys (Quality Control) Order 2020 passed by the Indian Government seeks to tighten the quality norms for toys both manufactured and imported in India to provide safer toys for children. Also, the December 2021 updated US Consumer Product Safety Commission provides certain rules and regulations related to the materials used in toy manufacturing. Such regulations could pose a challenge in the growth of the polyester soft toys industry, thereby negatively impacting the polyester soft toys market size during the forecasted period.
Polyester Soft Toys Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyester Soft Toys market. The top 10 companies in Polyester Soft Toys Market are:
Mattel Inc.
Bandai Namco
Hasbro
Tomy Company
Simba Dickie Group
Spin Master Ltd.
Busies LLC
Barbie
Fisher Prince
Playmobil
Recent Developments
In April 2022, Mattel Inc collaborated with Lucasfilm to launch Star Wars Galactic Pals plush toys for children consisting of characters such as Wookiees, Ewoks, Jawas and Rodians.
In February 2022, Tomy Company which is one of the leading manufacturers of soft and plush toys launched “My Fuzzy Friend” a plush toy that clings to children’s arms, makes cute gestures and speaks in a cut voice.
In October 2021, Simba Dickie Group formed a partnership with Xilam Animations where the companies will target to expand the product line of the Xilam Animations famous Oggy and the Cockroaches plush toys among children aging between 3-6 years.
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