The report titled "Thailand Toys and Games Market Outlook to 2029 - By Branded and Local Players, By Product Type (Educational Toys, Electronic Toys, Action Figures, Dolls, Games and Puzzles, Ride-Ons), By Age Group, By Distribution Channel, and By Region " provides a comprehensive analysis of the toys and games market in Thailand. The report covers an overview and genesis of the industry, overall market size in terms of revenue, market segmentation; trends and developments, regulatory landscape, customer profiling, issues and challenges, and comparative landscape including competition scenario, cross comparison, opportunities, bottlenecks, and company profiling of major players in the toys and games market. The report concludes with future market projections based on sales revenue by product category, region, cause-and-effect relationships, and success case studies, highlighting major opportunities and cautions.
Thailand Toys and Games Market Overview and Size
The Thailand toys and games market reached a valuation of THB 20 billion in 2023, driven by increasing consumer spending, rising awareness of educational toys, and growing urbanization. The market is characterized by major players such as LEGO, Hasbro, Mattel, and Bandai Namco, along with local brands like PlanToys and B2S. These companies are recognized for their diverse product offerings, focus on innovation, and strong retail networks.
In 2023, LEGO introduced a new range of sustainable toys made from plant-based materials, aiming to meet the rising demand for eco-friendly products in Thailand. Additionally, e-commerce platforms like Lazada and Shopee have strengthened their presence, providing consumers with easy access to a wide range of toys and games. Bangkok and Chiang Mai are key markets due to their high population density and robust retail infrastructure, with a growing preference for premium and imported products in these areas.
What Factors are Leading to the Growth of Thailand Toys and Games Market:
Economic Factors: Rising disposable incomes and economic growth in Thailand have significantly increased consumer spending on toys and games. In 2023, toys and games purchases accounted for approximately 55% of household spending on child-related products. Parents are increasingly investing in educational and developmental toys, contributing to the market's expansion. Economic stability has also encouraged manufacturers to introduce a wider range of products catering to various income segments.
Growing Urban Population: Urbanization in Thailand has led to a surge in demand for modern toys and games, as families residing in cities seek more sophisticated and branded products for their children. The growth of the urban population, which has risen by 10% in the last five years, has further fueled demand for premium and imported toys. This demographic shift has led to an increased focus on innovation, design, and digital integration in toys.
Digitalization and Online Sales: The rise of e-commerce platforms and online marketplaces has transformed the way consumers purchase toys and games. In 2023, around 45% of toys and games sales in Thailand were conducted online, reflecting a growing shift towards digital channels. Online platforms offer convenience, variety, and detailed product information, making the buying process easier for parents. This trend is further supported by social media and influencer marketing, which play a crucial role in shaping consumer preferences.
Which Industry Challenges Have Impacted the Growth for Thailand Toys and Games Market
Quality and Safety Concerns: Concerns about product safety and quality remain significant challenges in the Thailand toys and games market. Approximately 45% of parents are hesitant to purchase toys due to fears of harmful materials and lack of safety certification, particularly for low-cost or non-branded products. This issue has led to a growing demand for certified, high-quality toys, but has also made it difficult for smaller or unregulated brands to compete in the market.
Regulatory Hurdles: Strict regulations regarding toy safety and environmental standards, such as the need for products to comply with the Thai Industrial Standards (TIS) and international safety norms, have posed challenges for manufacturers and importers. In 2023, around 18% of toys were reported to have failed to meet these standards, resulting in higher compliance costs and delays in product launches, particularly for smaller companies.
Competition from Digital Entertainment: The increasing popularity of digital entertainment, including mobile games and video streaming platforms, has posed a significant challenge to the traditional toys and games market. In 2023, screen-based activities accounted for a growing portion of children's entertainment, reducing demand for physical toys. This shift is forcing traditional toy manufacturers to innovate and create products that can compete with digital experiences.
What are the Regulations and Initiatives which have Governed the Market:
Toy Safety Standards: The Thai government enforces strict toy safety regulations under the Thai Industrial Standards (TIS), ensuring that all toys sold in the country meet specific safety criteria related to materials, design, and functionality. These standards focus on preventing hazards like choking, toxicity, and sharp edges. In 2023, around 80% of toys sold in Thailand were certified by the TIS, highlighting a high compliance rate among domestic and international brands.
Import Restrictions on Toys: The import of toys in Thailand is regulated by customs laws, which impose tariffs and safety checks. Imported toys must comply with both Thai and international safety standards, and non-compliance can result in product recalls or bans. In 2023, stricter enforcement of these regulations led to a 10% decline in the importation of non-compliant or low-quality toys, helping to protect consumers from unsafe products.
Government Support for Educational Toys: To promote early childhood development and learning, the Thai government has introduced initiatives that encourage the use of educational toys, particularly in schools and daycare centers. These initiatives include tax incentives for companies producing educational and STEM-focused toys. In 2023, educational toys accounted for 25% of total market sales, driven by increased awareness of their developmental benefits and government backing.
Thailand Toys and Games Market Segmentation
By Market Structure: Branded international toy manufacturers, such as LEGO, Mattel, and Hasbro, dominate the market due to their strong global reputation, product quality, and established retail partnerships. These brands are particularly popular in urban areas where consumers are willing to pay a premium for branded toys. Local manufacturers like PlanToys also hold a significant share, especially in the eco-friendly and educational toy segments, appealing to environmentally conscious and educationally focused consumers.
By Age Group: The toys and games market in Thailand is segmented into various age groups. The 3-8 year age group holds the largest share, as parents prioritize educational and developmental toys for young children. Toys for infants (0-2 years) and older children (9-14 years) also contribute significantly to the market, with the latter driven by demand for board games, action figures, and electronic toys.
By Distribution Channels: Physical retail stores, including department stores and toy specialty shops, dominate the distribution channel in the Thailand market, accounting for a majority of the sales. However, online platforms like Shopee and Lazada are rapidly gaining market share, especially post-pandemic, due to the convenience and wider selection they offer.
Competitive Landscape in Thailand Toys and Games Market
The Thailand toys and games market is moderately concentrated, with both international and domestic players competing for market share. While global brands like LEGO, Mattel, and Hasbro lead the premium and branded segment, local companies such as PlanToys and B2S have strengthened their positions by focusing on eco-friendly and educational toys. The rise of e-commerce platforms such as Lazada, Shopee, and Central Online has diversified the market, offering consumers a wider range of choices and competitive prices.
Some of the recent competitor trends and key information about competitors include:
LEGO: As a leader in the construction toy category, LEGO has increased its market share in Thailand by launching eco-friendly products and focusing on educational sets. In 2023, the brand introduced a new line of plant-based plastic toys, which contributed to a 15% rise in sales compared to the previous year.
Mattel: Known for iconic brands like Barbie and Hot Wheels, Mattel reported a 10% increase in sales in Thailand in 2023, driven by new product launches and successful marketing campaigns. The company also expanded its partnership with local retailers to strengthen its distribution network.
PlanToys: A pioneer in sustainable toys, PlanToys has captured a growing market share by promoting eco-friendly products. In 2023, PlanToys saw a 20% growth in sales, with strong demand from environmentally conscious consumers. The company?s emphasis on developmental and educational toys has made it a popular choice among parents and schools.
B2S: As a leading retailer of books and educational toys in Thailand, B2S has leveraged its extensive retail presence to grow its share in the toys and games market. The company reported a 12% increase in sales in 2023, with a focus on educational and STEM toys.
Shopee: One of the largest e-commerce platforms in Southeast Asia, Shopee recorded a 25% increase in toy sales in 2023. The platform?s extensive product offerings, competitive pricing, and convenient shopping experience have made it a go-to destination for toy buyers in Thailand.
Lazada: Known for its strong logistics network, Lazada saw a 20% increase in toy sales in 2023, driven by promotional campaigns and exclusive partnerships with international toy brands. The platform?s seamless shopping experience and fast delivery options have contributed to its growing popularity in Thailand.
What Lies Ahead for Thailand Toys and Games Market?
The Thailand toys and games market is projected to grow steadily through 2029, exhibiting a healthy CAGR during the forecast period. This growth will be driven by factors such as increasing disposable incomes, rising demand for educational toys, and the expansion of e-commerce platforms. The market is also expected to benefit from evolving consumer preferences toward sustainable and interactive products.
Shift Towards Digital and Interactive Toys: As technology becomes more integrated into children?s lives, there is anticipated to be a significant rise in demand for digital and interactive toys, including augmented reality (AR) and app-connected products. This shift will be driven by the growing use of mobile devices and parental preferences for educational and engaging digital content.
Rise in STEM and Educational Toys: The demand for STEM (Science, Technology, Engineering, and Math) toys is expected to continue rising as parents and educational institutions emphasize early childhood development and skills building. By 2029, educational toys are likely to constitute a larger share of the overall market, with significant investments in products that combine play with learning.
Growth of Eco-Friendly Toys: With increasing awareness of environmental sustainability, consumers are showing a preference for eco-friendly toys made from recycled or sustainable materials. Companies that prioritize sustainable practices in their production processes are expected to gain market share, and government initiatives promoting green products will further support this trend.
Expansion of E-Commerce: The rapid growth of online platforms, such as Shopee and Lazada, is expected to continue reshaping the toys and games market. E-commerce will allow consumers across Thailand, including those in rural areas, to access a wider variety of products, driving overall market growth. Additionally, online retailers are expected to offer more personalized recommendations and promotions based on consumer behavior analytics, improving the shopping experience.
Thailand Toys and Games Market Segmentation
By Market Structure:
Organized
Unorganized
By Product Type:
Action Figures
Dolls and Plush Toys
Educational and STEM Toys
Board Games and Puzzles
Construction Sets
Outdoor and Sports Toys
Electronic and Digital Games
By Age Group:
Infants (0-2 years)
Toddlers (3-5 years)
Children (6-8 years)
Preteens (9-12 years)
Teenagers (13-15 years)
By Distribution Channel:
Online (Shopee, Lazada, Central Online)
Offline (Retail Stores, Department Stores)
By Region:
Bangkok
Northern Thailand
Southern Thailand
Central Thailand
Eastern Thailand
Players Mentioned in the Report:
Mattel Inc.
Hasbro Inc.
LEGO Group
JAKKS Pacific
Bandai Namco Holdings Inc.
Nintendo Co. Ltd
Sony Corporation
Activision Blizzard
Microsoft Corporation
Garena Online (Thailand) Co. Ltd.
Key Target Audience:
Toy Manufacturers
Online and Offline Retailers
Educational Institutions
Government and Regulatory Bodies (e.g., Ministry of Commerce)
Research and Development Institutions
