2012-11-08 17:29:16 -
Asia-Pacific toy market to become the largest in the world by 2016
The Asia-Pacific toy market has been forecast to surpass Western Europe and North America by 2016, to become the largest traditional toy market in the world accounting for 28% of global sales, thanks to substantial growth in China, Thailand and India.Asia Pacific is projected to be the most dynamic region for traditional toys and games sales in actual terms, adding a whopping US$7.2 billion to global sales over the next five years.Key factors contributing to growth within the Asia-Pacific toy market include rising disposable incomes, new product launches, the increasing penetration of organised retailing in rural areas and second-tier cities as well as strong demographic fundamentals.Accounting for over 17% of global value sales combined, Japan and China were the second
and third biggest traditional toys and games markets in the world in 2011. However, in 2012, China is projected to overtake Japan to become the second largest traditional toys and games market globally.Bandai Namco has outperformed the Asia Pacific market since 2008, increasing its regional share by two percentage points to almost 10% in 2011. As its saturated home market Japan faces a number of challenges, the company has expanded its operations, focusing more on the emerging markets across the region.Video games in Asia Pacific recorded 9% value growth in 2011, compared to the world average of just 1%. The Asia-Pacific games consoles market had total revenues of $4 billion in 2010, representing a compound annual rate of change (CARC) of -5% for the period spanning 2006-2010. The performance of the market is forecast to accelerate, with an anticipated compound annual growth rate (CAGR) of 8.2% for the five-year period 2010-2015, which is expected to drive the market to a value of $5.9 billion by the end of 2015.Japan dominates the market, with over half of all sales in the region. Digital games continue to be the most dynamic category, outpacing video game hardware and software, with 19% value growth in 2011.For more information on the Asia-Pacific toy market, see the latest research: Asia-Pacific Toy MarketFollow us on Twitter @CandMResearch
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