STEM toys market is projected to propagate at a solid CAGR of 7.1% during the forecast period. Science, technology, engineering, and mathematics based/Science, Technology, Engineering, Art and Math (STEM/STEAM) toys are toys that are geared and inclined towards stimulating learning, education and curiosity. The toy segment is also more crucial in developing the required skills in areas, especially in STEM related professions. The core ideology of toys is oriented towards offering edutainment with the development of cognitive and mental skills. Also, STEM is one of the fastest-growing segments of the toy industry where coding, artificial intelligence (AI), virtual reality (VR) and robotic toys are enforcing the wider adoption and momentum across geographies. While they are sold exclusively through traditional retail formats and online mediums, the demand for customization as per the local curriculum and academic subjects is driving the demand in preschools, primary schools as well, thereby enhancing the overall growth.
The STEM toys market is segmented based on age group, category, and distribution channel. Based on the age group, the STEM toys market is segmented into 0-3 years, 3-8 years, 8-12 years, 12+ years. On the basis of category, the market is segmented into science, technology, engineering, and mathematics. On the basis of distribution channel, the market is fragmented into online and offline. Engineering toys, which are used among teens for strategic and building skill development, is expected to grow at one of the fastest CAGR during the forecast period. This can be more prominent in the APAC and Latin America regions owing to the pre-existing culture of playing more building games in countries such as India, Brazil, and Mexico. The rise in the number of theme-based construction kits is driving the demand in western countries. The segment was also one of the highly demanded toys segment during the 2020 pandemic.
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Market Coverage
- Market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
STEM Toys Market Segmentation
By Age Group
- 0-3 Years
- 3-8 Years
- 8-12 Years
- 12+ Years
By Category
- Science
- Technology
- Engineering
- Mathematics
By Distribution Channel
- Online
- Offline
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Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Digital Dream Labs, Inc.
- ELENCO ELECTRONICS, INC.
- net Ltd.
- Goliath Games
- Hasbro, Inc.
- Johnco
- K’NEX
- LeapFrog Enterprises, Inc.
- Learning Resources Ltd.
- LEGO System A/S
- Mattel
- Melissa & Doug
- MindWare , Inc.
- Ravensburger
- Smartivity
- Sphero
- Spin Master
- Valtech, LLC
- VTech Holdings Ltd.
- WowWee Group Ltd.
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