Are you interested in learning more about the toy market in the US? As an expert in the field, I can provide you with an overview of the current state of the industry, as well as insights into its future growth. The toy industry is experiencing a period of rapid growth, with an annual growth rate of 35 percent. This is largely due to changes in consumer tastes, as well as increased demand for strategy-based educational toys among children. Additionally, government initiatives for the development of local toy companies are expected to boost industry progress in Japan, India and China.
Toys play a vital role in brain development, helping children acquire logical and reasoning skills, as well as spatial reasoning. As such, the number of children is expected to increase in the coming years, which will have a positive impact on the growth of the toy market. Custom toys, environmentally friendly toys along with STEM toys are trending in the market. Innovative toys and activities have become the ultimate method of spending time, as children spend more time indoors and at home.
Furthermore, online sales channels represent one of the fastest growing toy distribution channels in the United States with smartphones and other digital media developments. Recently, the Indian government increased the import tariff for toys by 200% in February and made toy quality certification mandatory to revive the indigenous industry. At NPD Group, we offer data, industry expertise and prescriptive analytics to help you grow your business in a changing world. With offices in 30 cities across the Americas, Europe and Asia-Pacific, we help you measure, predict and improve performance across all channels.
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