Inflatable Toys Market Booming Demand Leading To Exponential CAGR Growth By 2028
Market Overview:
Inflatable beach toys are a popular choice for outdoor vacations. Generally, inflatable toys are made of polyvinyl chloride (PVC). However, due to the growing awareness related to the health risks of PVC, the inflatable toy manufacturers are using nontoxic materials such as thermoplastic polyurethane and heavyweight vinyl to develop nontoxic products that are safe for children. Based on end use, the inflatable toys market is segmented into residential and commercial. The residential segment held a larger market share in the inflatable toys market in 2020 and is projected to register a faster CAGR during the forecast period. The segment’s growth is attributed to the factors such as a rise in population, an increase in per capita income, a surge in expenditure on toys and other home entertainment products for children, and the ability of inflatable toys to be installed in small to medium spaces. Inflatable toys are easy to transport and store when deflated, and thus, they are gaining popularity among parents. They are also cost-effective when compared to other conventional toys. All these factors are driving the residential sales of inflatable toys.
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Key Players Influencing the Market
· Intex Recreation Corp.
· Bestway Inflatables & Material Corp.
· Happy Inflatable Co. Ltd
· LIttle Tikes; General Inflatables
· Joyin; Omega Inflatables Factory
· HearthSong
· Waddle & Friends, Inc.
· Jet Creations Inc
Impact of COVID-19 Pandemic on Inflatable Toys Market
The COVID-19 pandemic brought unprecedented challenges for many industries, including the consumer goods industry. Lockdowns, border restrictions, travel bans, shutdown of manufacturing units, and other safety protocols by governments of different countries disturbed the operations of manufacturing companies. The toys industry also faced negative impacts of the pandemic as the majority of the consumers preferred buying essential products instead of spending on non-essential leisure goods. However, the sales of inflatable toys, especially inflatable pools, soared during the COVID-19 pandemic as the consumers were looking for ways to provide at-home entertainment to their children. Parents and children were mandated to stay home due to strict lockdowns and prolonged closure of schools and kindergartens. All these factors bolstered the growth inflatable toys market in 2020 and 2021. Currently, the manufacturers are operating at full capacity, and many countries are fully vaccinated, which is driving the inflatable toys market. Moreover, the growing e-commerce sales is projected to drive the inflatable toys market in the coming years.
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Based on end use, the inflatable toys market is segmented into residential and commercial. Based on type, the market is segmented into inflatable pools, inflatable animals, inflatable balls, and others. In terms of distribution channel, the inflatable toys market is segmented into supermarkets & hypermarkets specialty stores, online retail, and others. The inflatable toys market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM).
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