Asia is now the world's second toy market | Key4Communications | News

The Asian toy market is now the world’s second largest, thanks to a growth of 9.2% in 2010, and according to a Research and Markets study. The European market dropped to third place while the American market maintained its first position.

This advance of Asia was in great part thanks to the growth of China, that has become the third largest domestic market after the US and Japan, and surpassing the UK and France.

In 2010, the export value of Chinese toys reached $ 10.08 billion, up 29.4% from a year earlier. The gradual recovery of the economy boosted this growth, as 2009 saw a decrease of 9.9% compared to 2008. Global toy sales reached $ 83.3 billion, up 4.7% compared to 2009.

In 2010, 10 out of 11 categories of exported China-made toys, except toy electric trains, experienced rapid growth. Intellectual toys grew 33.4%; toy sets, 28.58%, and animal toys, 22.08%. The market shares occupied by traditional toys such as plush toys and plastic toys further shrank, while that of intellectual and electronic and electric toys increased.