Stem toys industry is projected to witness a CAGR of 9.1% during the period 2024-2032. This growth can be attributed to technological advancements.
Selbyville, Delaware, July 03, 2024 (GLOBE NEWSWIRE) —
Stem Toys Market Size is projected to reach more than USD 13 billion in revenue by the end of 2032. The increasing awareness of the importance of stem education in developing critical thinking, problem-solving, and technical skills in children is driving the industry growth.
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Parents and educators are increasingly recognizing the value of integrating play with learning, further fostering interest in science, technology, engineering, and mathematics from an early age.
Rising advancements and innovations in toy design are increasing their incorporation to provide interactive and hands-on learning experiences. In October 2023, Hasbro announced a STEM-based program in partnership with Girl Up to promote girl leadership, innovation, and creativity. The launch of such stem-based programs by key industry players is accelerating the product appeal. Of late, the government and institutional support for STEM education initiatives and programs has also significantly soared. The rising popularity of coding, robotics, and engineering kits, coupled with the growing influence of educational trends and digital learning tools is boosting the market growth.
Rising appeal of science-based stem toys
The stem toys market science type segment is estimated to record significant share of the stem toys industry by 2032, due to the increasing emphasis on scientific literacy, the popularity of hands-on experiments, and rising interest in fields like biology, chemistry, and physics. Parents and educators are seeking engaging, educational toys to foster curiosity and critical thinking. Rapid innovations in science kits and interactive learning tools, along with support from educational initiatives will also favor the segment growth.
Growing demand among 0-3 years age group
Stem toys market size from the 0–3 years age group segment will rise at significant rate between 2024 and 2032, due to the rising awareness of early childhood development and the importance of foundational STEM skills. Parents are increasingly seeking toys that promote cognitive, motor, and sensory development. Educational experts are advocating to introduce STEM concepts early for encouraging problem-solving and curiosity. The availability of age-appropriate, safe, and engaging STEM toys designed for toddlers, coupled with growing interest in interactive and educational play will add to the segment expansion.
Europe to remain attractive market destination
Europe stem toys market is estimated to record substantial gains between 2024 and 2032, led by the increasing emphasis on STEM education, supported by government initiatives and educational policies. The rising awareness among parents about the importance of developing critical thinking and problem-solving skills from an early age is spurring the deployment of these toys. The influence of educational trends and the growing focus on preparing children for future technological advancements is also driving the regional industry progression.
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Stem Toys Market Participants
Some of the leading firms operating in the stem toys industry include BanBao, Bandai, Gigotoys, Goldlok Toys, Guangdong Loongon, Guangdong Qman Culture Communication, Hasbro, K’NEX, LEGO Group, Mattel, Melissa and Doug, ShanTou LianHuan Toys and Crafts, Spin Master, TAKARA TOMY, and Vtech. These market players are adopting various business expansion tactics, such as mergers & acquisitions, partnerships, and launching new product lines to gain a strong foothold in the industry.
For instance, in May 2024, Horizon Group USA, a provider of education activity kits, launched a new collection of Star Wars-themed STEM activities for kids aged 6 years and above. Each slime includes collectible fact cards that teach children about slime compounds while providing engaging sensory play.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 – 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Technology advancement analysis
3.3 Regulatory landscape
3.4 Impact forces
3.4.1 Growth drivers
3.4.1.1 Educational emphasis
3.4.1.2 Technological advancements
3.4.1.3 Rise in homeschooling
3.4.2 Industry pitfalls & challenges
3.4.2.1 Cost factor
3.4.2.2 Parental awareness and support
3.5 Consumer buying behavior analysis
3.5.1 Demographic trends
3.5.2 Factors affecting buying decision
3.5.3 Consumer product adoption
3.5.4 Preferred distribution channel
3.5.5 Preferred price range
3.6 Growth potential analysis
3.7 Porter’s analysis
3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023
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