Paper Toys Market Analysis, Share, Trends 2021
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global paper toys market is estimated to grow at a CAGR of 4.7% in the forecast period. Growing awareness about the adverse effects of plastic toys and smartphones on children is leading to the growth of the global paper toys market. New research suggests that children's brain tissues absorb two times more microwave radiation, and their bone marrow absorbs ten times more than adults'. Smartphones can lead to mental and physical health risks, including low IQ and improper cognitive development in children, sleep deprivation, and even brain tumors. Therefore, experts recommend that parents make the switch to paper toys for their children. This factor is significantly propelling the growth of the global paper toys market. Meanwhile, the developing paper recycling industry also has the potential to provide lucrative growth opportunities for the market during the forecast period.
Development of Life Skills Through Paper Toys Is Projected to Boost the Global Paper Toys Market
Paper toys are becoming a more popular alternative to plastic and smart toys for the entertainment of children as well as a method for teaching necessary life skills to children from a young age. Playing or creating paper toys helps children boost and improve their creativity. Moreover, paper toys help children develop problem-solving skills, foster their social development, and help them follow directions. Origami, a popular art form, is also utilized therapeutically for people with mental problems. These advantages are projected to drive the global paper toys market over the forecast period.
Advancements in The Paper Recycling Industry Is Anticipated to Drive the Global Paper Toys Market Growth
The emerging paper recycling industry is among one the primary growth factors for the global paper toys market. Most paper toy manufacturers use recycled paper to produce their products as it is the greenest option since it uses less energy and water and emits fewer carbon emissions. In the upcoming years, paper toys are expected to witness lucrative growth opportunities as consumers become more aware of environmental issues and the hazards of plastic toys.
Global Paper Toys Market - By End-User
Based on end-users, the global paper toys market is segmented into <3 years old, 3-5 years old, 5-8 years old, and 8-14 years old. The 3 -5 years old segment accounts for the largest market share. This age group is crucial as 90% of a child’s brain develops by the age of five and has a lasting impact on their ability to learn and succeed in school and life. Because of this, most parents significantly focus on activities that can help them develop necessary life skills. Paper toys serve as an effective tool for the purpose, which also plays a significant factor in the growth of the global paper toys market.
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Global Paper Toys Market - Regional Insights
Geographically, the global paper toys market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the market because of the flourishing toy manufacturing industry in countries like China and India. However, developed regions like North America and Europe are also emerging as a potential market for the paper toys. In developed countries, families significantly spend on paper toys for educational purposes, such as developing interpersonal and intrapersonal skills, social and emotional skills, etc.
Impact of COVID-19 on Global Paper Toys Market
The sudden outbreak of COVID-19 negatively affected the global paper toys market. With people and children restricted in their homes due to quarantine, the demand for paper toys spiked. Paper toys are also gaining immense popularity to develop necessary life skills in children, especially when the schools are closed. However, due to the imposed lockdowns in several nations, product manufacturing and distribution were temporarily suspended, resulting in a massive demand and supply gap in the market, resulting in significant losses for the manufacturers. Nevertheless, the market is anticipated to witness poised growth in the post-COVID-19 period as the manufacturing activities resume.
Competitive Landscape
The leading players in the global paper toys market are LEGO, PLAYMOBIL, TAKARA TOMY, Leapfrog, Bandai, Vtech, Ravensburger, Spin Master, Qunxing, Melissa & Doug, Safari, Hasbro, BanBao, MindWare, GiochiPreziosi, Gigotoys, Mattel, MGA Entertainment, and other prominent players.
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