A new study by Key Note into the UK toys and games market is suggesting over ten per cent growth by 2017 to the impressive figure of £2.45 billion.
The report claims that between 2008 and 2017, the total UK market for toys and games is expected to rise in value by 10.1 per cent, with the majority of this growth occurring between 2012 and 2017. And it appears that the UK will buck market trends, with Key Note estimating the growth of the global toy market to have remained relatively stagnant over the past year, with total world sales remaining at $84.1 million during 2012.
The study – entitled Toys & Games Market Report Plus – takes a look at a number of market trends which have had an effect on the toy sector. These include the population of children aged 14 and under between 2008 and 2012, with the report finding the greatest growth was in the one to four year old age group, up 9.3 per cent during the period.
Those aged five to nine increased by 6.3 per cent, while the population of children aged under one rose by 4.8 per cent. In contrast, the number of slightly older children – aged between ten and 14 – actually declined over the five-year period, falling 5.9 per cent between 2008 and 2012.
The growth of the tablets sector is also examined, along with cross channel and multi-channel strategies and the increase of online retailing.
Key Note also found that, in the year ending March 2013, total main media advertising expenditure on toys and games stood at £75.3 million – up 4.3 per cent from £72.2 million in the previous year.
According to the research, Hasbro registered the highest single expenditure on its range of toys during 2013, followed by Mattel, LEGO, Flair and MGA Entertainment. Other firms in the top ten big spenders include Character Group and VTech.
Key Note is offering ToyNews’ readers an exclusive ten per cent discount on the cost of the full Toys & Games Market Report Plus (usual price £575). Interested parties simply need to call 0845 504 0452 and quote ‘KEYTOYS’.