The global action figures market is predicted to grow significantly, exhibiting a CAGR of 8.8% from 2023 to 2033. According to the research report by FMI, the global market size is likely to hit US$ 9 billion in 2023 and US$ 20.91 billion by 2033.
Children’s cognitive abilities benefit from toys’ development. They support the kid’s continued engagement and activity. Action figures have long been popular among children and youngsters. The expanding population of children below 15 is likely to contribute to the market’s development. Additionally, the expanding middle-class population and the rising income levels are anticipated to foster growth for the market.
The increasing number of viewers of Japanese anime, superhero movies, TV serials, short films, and others is expected to boost product sales. The rising numbers of anime production companies and the growing expenditure on online streaming platforms are likely to aid market development. Furthermore, the rising digitalization and improving computer animation technologies are expected to foster market growth.
The growing popularity of the Marvel series, DC series superheroes, and Japanese anime characters is anticipated to be a crucial factor driving market growth. The launch of premium and customized action figures by key market players is likely to be a key trend bolstering the market growth. Additionally, product improvements and innovations are probably going to play a significant role in the expansion of the global market. Launching toys with modern technologies, such as sensors and GPS trackers, is anticipated to uptick product demand.
The generation of several revenue streams is anticipated for market players due to the expansion of distribution channels. Sales of e-commerce are expected to increase, and supply chain network expansions are expected to promote industry growth.
Supercharge Your Knowledge: Dive into the Booming Action Figures Market with Our Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-16861
Key Takeaways from Action Figures Market:
In 2018, the global market size stood at nearly US$ 5.95 billion. From 2018 to 2022, the market showcased modest growth in the following years, accounting for US$ 8.27 billion.
The superheroes action figures segment held a more than 45% market share in 2022.
The anime characters’ segment is anticipated to garner a CAGR of 9.7% from 2023 to 2033.
The offline distribution segment is predicted to account for more than 70% of global action figure sales revenue.
The United States is likely to clock a modest CAGR of nearly 41.2% in 2023.
Asia Pacific is projected to exhibit a CAGR of 10% from 2023 to 2033.
Recent Developments Observed by FMI:
The Lego Group announced the expansion of its factory in Monterrey in August 2022. The US$ 580 million investment felicitated a 33,850 square-meter expansion at the facility. Because of its increased production capacity, the company can now meet demand from around the world.
Hasbro debuted its new ‘Selfie Series’ in July 2022. Customers can now create action figures thanks to the company’s new launch in collaboration with Form labs. These 6 inches’ tall action figures can also be customized using their Hasbro Pulse app.
Key Players in the Action Figures Market Report:
The LEGO Group
Playmates Toys Ltd.
Hasbro
JAKKS Pacific Inc.
Mattel
