Indian toy sector expected to capture 4% of global toy market by 2047: Report
The Indian toy sector is expected to capture about 4 per cent of the global toy market, estimated at USD 454.3 billion, by 2047, according to a report.
As the country accounts for about 0.3 per cent of the global export trade, exports represent a significant opportunity for exponential growth by penetrating further in key toy-importing nations such as the US, Germany, and the UK, the DPIIT’s Toy Sector Playbook, which is a comprehensive guide to enable innovation, manufacturing, and global competitiveness in India’s toy sector, said.
“Considering the current projected growth rates for domestic (10.1 per cent) and global toy (6.2 per cent) markets, the Indian toy sector is expected to attain about 4 per cent global market share by 2047,” it said.
The government has set a target of capturing 5 per cent of the global toy market by 2032.
To achieve this target, the Indian toy industry needs to focus on export-led growth, ensure that its products meet quality and safety standards, and invest in branding, packaging and product design, the report said.
It also suggested the industry to move beyond assembly and create a complete manufacturing ecosystem, including domestic manufacturing of components, and make India self-reliant in toy production; and enhance manufacturing scale and become more competitive.
Domestic toy market size was USD 1.9 billion in 2024, which is expected to increase to USD 4.1 billion in 2032 and USD 17.4 billion by 2047. The global market size was 113.9 billion in 2024 and estimated at USD 184.3 billion by 2032.
Global realignment of supply chains has benefited emerging economies, including India, Vietnam, and Mexico, as toy companies look to shift operations to alternative markets.
