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It is learned that at the end of last month, the well-known toy manufacturer Star Entertainment released its 2022 semi-annual report. During the reporting period, Star Entertainment achieved operating income of 777 million yuan, a year-on-year increase of 46.72% ; among them, the toys and derivatives business achieved main business income of approximately 169 million yuan , an increase of 28.32% over the same period last year , accounting for 21.72% of total operating income ; and achieved a net profit of 13.9577 million yuan, an increase of 125.32% over the same period last year.
▲ The picture comes from Juchao Information Network In 2021, global toy market sales reached US$104.2 billion , an increase of 8.5% over 2020 and 12.7% over 2019, the best performance in the past 10 years . As the world's largest toy producer and exporter, more than 70% of the toys in the global market are produced in China . Although the toy industry has been affected by the epidemic, raw materials and freight rates have risen, and logistics and transportation have been restricted, China's toy industry has maintained stable and rapid development. Current status of China's toy export marketChina's toy exports have achieved five consecutive years of growth since 2016. In the first half of 2020, due to the impact of the epidemic, China's toy exports were once hindered, but as companies resumed work and production smoothly, China's toy exports have once again entered a sustained growth track since the second half of 2020.
In order to better provide guidance for the business development of enterprises in the industry, on May 17 this year, the China Toy and Juvenile Products Association released the "2022 China Toy and Juvenile Products Industry Development White Paper" (hereinafter referred to as the "White Paper"). The white paper shows that in 2021, China's toy exports (excluding games) were US$46.12 billion , up 37.8% year-on-year, the highest growth rate in the past five years, and a strong export performance. The United States is the top export destination for Chinese toys , with exports of US $13.48 billion , up 57.3% year-on-year, accounting for 29.2% of China's toy exports , an increase of 3.7 percentage points over the previous year. ▲ The picture comes from the "2022 China Toy and Baby Products Industry Development White Paper" ▲ The picture comes from the "2022 China Toy and Baby Products Industry Development White Paper" China's toy exports have not only grown rapidly, but also undergone fundamental changes in product quality and sales methods. With the rapid development of global e-commerce, toys have gradually become an important category with stable growth in cross-border e-commerce. More than 70 % of the toy distributors interviewed said they have adopted a parallel online and offline sales model. The epidemic boosts the global toy marketIn recent years, due to the impact of the epidemic, people's demand for home entertainment has increased, which has driven the sales of toys. Since the second half of 2020, the overseas toy market has ushered in a "small climax" of development.
USA As the world's largest toy consumer market, the total toy sales in the United States reached $28.6 billion in 2021 ! A year-on-year increase of 13%, contributing 80% of the global market growth ! From January to April 2022, the sales of the US toy market reached $6.3 billion, with per capita expenditure of $11.17, a year-on-year increase of 7%. Germany According to the German Toy Industry Association (DVSI), toy sales in Germany increased by 4% year-on-year in 2021, approaching the 4 billion euro mark. In contrast, toy sales in Germany in 2010 were only 2.6 billion euros, with a compound annual growth rate of 46% over the past 12 years. France According to data from the NPD Group, toy sales in France in 2021 increased by 3% year-on-year compared to 2020, breaking the 3.7 billion euro mark for the first time, and demand for toys among all age groups has recovered. In 2021, the size of Japan's domestic toy market reached 894.6 billion yen , a year-on-year increase of 8.5% , setting a record high in Japan since 2001 . In addition to the above major markets, toy sales in other regions such as Spain and Brazil have increased to varying degrees. While the global toy market is exuding vitality, it is also showing new development trends. The proportion of toys for older children is gradually increasingIn recent years, the industry has noticed the rapid growth of toy consumption for older children (12+). In the past, toys for children under 11 years old have always been the most popular and highest-ranking category in the toy market. However, as the birth rate in developed countries declines year by year, the shortage of newborns has caused the proportion of toys for younger children in the toy market to begin to decline .
Taking the UK as an example, toys for children aged 0-11 accounted for about 79% of the total toys in the UK in 2017. By 2021, this figure had dropped to about 71% , with the rest being occupied by toys for older children aged 12+. If the children's group is further divided into two groups, 0-5 years old and 6-11 years old, the toy consumption of both groups has declined compared with previous years. ▲ Image from NPD Group On the other hand, with the rise of the "stay-at-home economy" , young adults' demand for a sense of ritual in life has also increased. In the toy market, more and more products are going to the buyers themselves rather than their children. Data from a survey conducted by NPD in the UK show that the number of adults who buy Lego toys for themselves has increased by 65% since 2012 ; during the Tmall 618 pre-sale period in 2022, more than 2 million Ultraman, 1 million Psyduck, and 500,000 Godzilla toys were bought by consumers born in the 1980s and 1990s . In recent years, the concept of IP has become more and more popular, and it is also the core factor for adults to buy toys. The concentration of my country's toy industry is not high, there are many companies but they are small in scale, and the market share of a single company is low. Therefore, many toy companies hope to create popular products by licensing toys with popular IP. IP licensing becomes a hit-making machineThe prosperity of the film, television, and animation cultural industries has provided more materials for the research and development of traditional toys. Adding cultural elements to the design can increase the commodity value of toys and enhance consumers' loyalty and recognition of brand products . The prototypes of the popular Gundam Warriors, Disney series toys, and Super Wings in the market today all come from related film, television, and animation works.
Licensed toys also contribute a large proportion to the growth of the global toy market. In the first eight months of this year, sales of licensed toys increased by 3% compared to 2021, accounting for 23% of total toy sales , reaching a record level! Pokémon In Japan, where anime is the most abundant, IP licensing has played a strong role in driving the development of the toy market. In 2021, the best performing toy market in Japan was card games and trading cards, which increased by 45.6% year-on-year and the amount increased by 55.8 billion yen . In particular, the Pokémon card game continued its high popularity last year and has been out of stock. ▲ The picture comes from the Internet According to a financial report from gamebiz, The Pokémon Company's total sales in 2021 were 70.4% higher than in 2020 , totaling 204 billion yen (US$1.43 billion) , and its net profit was 41 billion yen (US$290 million), a year-on-year increase of 123%. LEGO Lego is an evergreen in the toy industry, and its brand recognition has always been deeply rooted in people's hearts. Lego is not limited to the field of children's toys. Its fan circle is spread all over the world, and its market share has always been at the top. In the first quarter of 2022, Lego's online market share reached 13% , with a scale increase of 25.5%. ▲ The picture comes from the Internet As a major IP player in the toy industry, LEGO holds a large number of IPs and has an extremely wide audience. Behind each IP lies a constant source of freshness, a huge fan base, and unlimited spending power. According to LEGO's 2021 annual report data, LEGO's revenue in 2021 was 55.3 billion Danish kroner (about 7.25 billion US dollars) , a year-on-year increase of 27% , and its net profit still reached 13.3 billion Danish kroner (1.74 billion US dollars), a year-on-year increase of 34%. Pop Mart As the leader of China's blind box trend, Pop Mart takes high-quality IP resources as its core and achieves integrated coverage of the entire platform industry chain through artist discovery, IP operation and promotion of trendy toy culture. ▲ The picture comes from the Internet By the end of 2021, Pop Mart achieved operating income of 4.491 billion yuan , ranking first among Chinese domestic toy brands. It also owns 85 IPs , of which two key IPs— Molly and SkullPanda— generated revenue of more than 1 billion yuan. In recent years, Pop Mart has also actively laid out overseas markets and achieved remarkable results. Its financial report shows that in the first half of 2022, Pop Mart's revenue outside mainland China was 157 million yuan, a year-on-year increase of 161.7% , and the proportion of revenue increased from 3.4% in the first half of 2021 to 6.6% . Hot trends for Halloween and Christmas November and December are the golden sales period for the toy market. With the arrival of Halloween and Christmas, the popularity and sales of toy products are constantly rising. Frédérique Tutt, toy industry expert at NPD Group, said: "Consumers of all ages are looking for cheaper products and various promotional offers in the face of a life crisis. But no matter how purchasing needs change, there will always be toys under the Christmas tree . Even in the years after the 2008 economic crisis, the toy market has never fallen by more than 6% in the fourth quarter. Recently, Amazon revealed the list of "Most Loved Toys" for 2022 in a blog post , which includes well-known brands such as Crayola, Disney, Fisher-Price and LEGO, as well as products under $50 from third-party sellers. They are: 1. Little Live Pets Interactive Kitchen 2. Funko Pop Star Wars Qui-Gon Jinn 3. Squishmallows Sleeping Comfort Plush Toy 4. eeBoo Children's Game Jigsaw Puzzle 5. Playmobil World 6. Breyer Horses Unicorn Wooden Toy Set 7. Inklings and Orijin Bees Dolls 8. Bluey Toy Scene House 9. Mega Bloks Eco-House Building Block Set 10. Lego Super Heroes Series: Groot ▲ The picture comes from Amazon's official website In conclusion : As a non-essential product category, the toy market has a relatively small overall market size. In addition, the current market concentration of China's toy industry is relatively low, and the scale of enterprises is small and lacks brand awareness, so there is a good opportunity for integration. For sellers, this market segment is still full of business opportunities.
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