Asia Pacific STEM toys market is anticipated to grow at the fastest CAGR of 8.0% during the forecast period. While China, Australia, Japan, and South Korea are the major markets for educational toys in the Asia Pacific region, countries such as India, Malaysia, and Indonesia are expected to witness growth in demand due to the improving quality of life in these countries and the strong demand created during the pandemic. The consumption of STEM toys in the Asia Pacific region is on the rise owing to the enormous population and increasing disposable incomes. The developed markets in Europe and North America are unable to keep pace with the growth of emerging markets in Asia Pacific, as markets in countries such as China and India are growing both in terms of consumption and purchasing power. For instance, China is expected to add 400 million consumers, whose annual income is more than $8,000. Similarly, India is expected to add 60 million households with an annual income of more than $6,000 by 2021. Higher disposable incomes mean not only an increased consumption but also imply a growing preference for differentiated and value-added products
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. Girls are the major end-users of toys in Indonesia, where the age group of 7-12 are significant revenue drivers. Electronics, construction blocks like LEGO is highly popular, along with a preference for Korean characters like Pororo and Tayo. The Indonesian parents prefer toys that are best in quality and safety, which is also driving the momentum for offline distribution channels.
Country-wise, the market is segmented into China, Japan, India, and the Rest of Asia Pacific. China is estimated to be the largest market for STEM toys in Asia Pacific, and is also one of the fastest markets. It is also regarded as one of the major suppliers and manufacturing hub for the educational toys market across the globe with its affordable production lines, employees and working environment. The toy market in the country is also shifting towards educational, scientific, electronic and remote control (RC) toys from decorative toys. The relaxation of the one-child policy in the country is eventually expanding the target group for the toys in the market where the two-child policy has resulted in adding approximately 2.39 million newborns in China every year. Further, factors su
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Asia Pacific 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
- China
- India
- Japan
- Rest of Asia Pacific
Company Profiles
- ELENCO ELECTRONICS, INC.
- Goliath Games
- Hasbro, Inc.
- Johnco
- K’NEX
- LeapFrog Enterprises, Inc.
- 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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