In-depth analysis and data-driven insights on the impact of COVID-19 included in this global STEM toys market report.
The global STEM toys market is expected to grow at a CAGR of approximately 7% during the period 2019−2025.
Key Highlights Offered in the Report:
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STEM Toys Market – Segmentation
STEM Toys Market by Age Group
STEM Toys Market by Categories
STEM Toys Market by Distribution
STEM Toys Market – Dynamics
Sustainability can be an upcoming potential trendsetter in the STEM toys industry despite being more difficult to achieve them. It is a tougher scenario for the vendors in this industry than most other businesses as the majority of the toys are made up of plastic, which is not feasible for commercial and economical aspects. As the removal of plastic from the toys is not possible, the vendors are addressing the issue through certain aspects, as sustainability is a growing concern in today’s consumer market. A sustainable vision is expected to be reflected in the company’s ethos. Choosing sustainable STEM toys are also a great way to lead an ethical way of life by caring for the planet. Also, nowadays, parents are looking for toys that are less harmful, eco-friendly and chemical-free (toxin less). Toys like Detective Dot is a perfect coding adventure for the kids, which also enhances the concept of sustainability.
Key Drivers and Trends fueling Market Growth:
STEM Toys Market – Geography
In terms of revenue, North America accounted for over 33% market share in the STEM toys market in 2019. The region has historically represented a prominent level of enthusiasm toward toys and games, whereas the landscape for learning toys is rising. The toys market in North America is expected to witness traction and high demand, owing to the impact of COVID-19 post-2020. Moreover, an increase in annual savings of end-users and their enhanced spending sentiments due to the economic recovery have increased the demand for sophisticated and high-end toys in US households. However, factors such as declining birth rate, higher saturation level, high smartphone penetration, and the growing popularity of online games can be major challenges for the market growth during the forecast period.
STEM Toys Market by Geography
Major Vendors
Other Prominent Vendors
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