Global Fidget Toys Market Set For 14.5% Growth, Reaching $10.46 Billion By 2028
Fidget Toys Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What Are the Projected Market Dynamics for Fidget Toys?
The fidget toys market has witnessed rapid growth in recent years. The market size is projected to surge from $5.31 billion in 2023 to $6.08 billion in 2024, marking a compound annual growth rate CAGR of 14.4%. This growth in the historical period has been fuelled by numerous factors including growing awareness of stress relief benefits, rising incidents of attention disorders, increased demand for sensory toys in educational settings, novelties in toy design, influence of viral trends, increasing interest in mental health, and the need for portable, engaging tools for children and adults.
Looking ahead, the next few years promises a promising outlook for the fidget toys market. It is projected to reach $10.46 billion in 2028, growing at a substantial CAGR of 14.5%. Key factors expected to contribute to the forecast period's growth include a heightened focus on mental wellness and mindfulness, expansion of customization options, increasing demand for eco-friendly products, development of new and innovative designs, growth of online retail channels, and ongoing social media influence and celebrity endorsements. Also, the rise in stress and anxiety levels globally is expected to propel the growth of the fidget toys market forward.
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What's Driving the Growth of the Fidget Toys Market?
The rising stress and anxiety levels worldwide are a key driving force for the fidget toys market. Stress and anxiety, mental and emotional discomforts resulting from pressure stress and ongoing worry or fear anxiety, are growing due to increased work pressures, social expectations, and financial instability. Fidget toys play a crucial role in combating stress and anxiety levels by channeling excess nervous energy, improving focus, and providing sensory engagement. These sensory tools can effectively reduce overall tension and promote relaxation.
A report from the Australian Bureau of Statistics ABS reveals that nearly 42.9% of individuals aged 16 to 85 have experienced a mental disorder at some point in their lives. Further, 21.5% had a mental disorder within the past year, with anxiety being the most prevalent, affecting 17.2%. Among younger people aged 16 to 24, 38.8% reported having a mental disorder in the last year. Given these statistics, the increasing levels of stress and anxiety are undeniably driving the growth of the fidget toy market.
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Which Are the Major Players in the Fidget Toys Market?
Prominent companies operating in the fidget toys market include LEGO Group, Hasbro Inc., Mattel Inc., Spin Master Corp., Zuru Inc., Ravensburger AG, Fat Brain Toys LLC, Funskool Ltd., Schylling Inc., Goliath Games LLC, ARK Therapeutic Services Inc., Bouncy Bands LLC, Calm Strips LLC, Fun in Motion Toys Inc., Harkla, Sensory Direct Limited, Tangle Inc., The Pencil Grip Inc., Antsy Labs LLC, Mindware Inc., Rysilicone.com. These industry leaders have substantially shaped the market landscape, particularly with their continuous innovation and product development strategies.
What Emerging Trends Are Observed in the Fidget Toys Market?
Innovation trends have been on a rise, with companies developing bendable fidget toys to enhance sensory stimulation, improve focus, and provide effective stress relief across a broad user spectrum. For instance, Fun in Motion Toys, Inc., a US-based toy manufacturer, unveiled in September 2023, a soft and bendable fidget toy range called Nockles. These fidget toys can snap together, pull apart, and form various geometric shapes. Such toys serve as an effective stress-relief tool and can assist with sensory processing and focus.
How is the Fidget Toys Market Segmented?
The fidget toys market is primarily segmented in the following ways:
1 By Type: Calming Fidget Toy, Alerting Fidget Toy, Chewy Fidget Toy, Resistance Fidget Toy, Tactile Fidget Toy, Other Types
2 By Material: Plastic, Metal, Silicone, Wood, Other Materials
3 By Distribution Channel: Online, Offline
4 By Application: Attention Deficit Or Hyperactivity Disorder, Autism, Asperger Syndrome, Other Applications
What Are the Regional Insights Into the Fidget Toys Market?
North America was the leading region in the fidget toys market in 2023. The fidget toys market study covers market data for several regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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