Polyester Soft Toys Market
Size is estimated to reach $8.5 billion by 2027 and is poised to grow at a CAGR of 7.8% over the forecast period of 2022-2027. Soft toys are equally popular with children and adults. As stuffed toys give comfort and relieve tension and anxiety in the body. Additionally, it helps children to learn important emotional and sensory skills. According to studies, many peoples bring their favorite teddies with them to college, businessmen will secretly hide one away in their luggage when away on business, and retired people find comfort and pleasure in their teddies. Such growing popularities for soft toys among all age groups surge the growth of the polyester soft toys market.
Polyester Soft Toys Market Growth Drivers:
Growing Prevalence of Neurological Disease Surge Growth of Polyester Soft Toys Market:
Soft toys give several benefits to children and adults. It gives comfort and good sleep, offers relief from post-surgical pain and helps in many neurological disorders. The ‘Adults with stuffed animals psychology report 2022, found that 43% of the 2,000 respondents, 84% of men own at least one stuffed animal, compared to 77% of women who still keep them in bed. Also, most psychologists recommend soft toys for people suffering from bipolar, PTSD, and other mental health conditions. stuffed animals can help inform research that benefits adults with borderline personality disorder (BPD). Specifically, stuffed animals may serve as an indicator of BPD in adults, in conjunction with other signs and symptoms. Such benefits of soft toys fuel the growth of the Polyester Soft Toys Market over the forecast period 2022-2027.
The Attracting and Enhancing Features of Toys Drive Market Growth:
Soft toys are considered good for the development of sensory skills and promoting social and emotional development in babies. As per the Toy Association, the sale of doll toys increased from $3.29 billion in 2019 to $3.78 in 2021. With the increasing demand for toys, key market players launched new innovative products to fulfill market demand. The Czech company, Woodyland s.r.o., provides an illustrated booklet telling a story about each of their creations in the Lumpin plush collection. In US-based Wild Republic Europe (European branch in Denmark), plush birds chirp like their real-life models. Such innovations fuel the growth of the Polyester Soft Toys Market.
In July 2022, Bandai signed a deal with DeAPlaneta Entertainment for the animated series Milo. The toy range includes playsets & figurines, role play, vehicles, electronic educational toys and soft toys. It would be available for purchase from Spring 2023.
The Major Players in this Market Include
The major companies in the Polyester Soft Toys Market include Mattel, Bandai, Lego, Hasbro, Simba-Dickie Group, Spin Master Ltd, Budsies, GIANTmicrobes, Build-A-Bear Workshop Inc, and Margarete Steiff GmbH. In June 2022, IKEA announced the opening of a new location in Mumbai’s famous retail destination, R CITY mall at Ghatkopar.
The rise in the Polyester Soft Toys Market is owing to the increasing children population and growing demand for soft toys in the market. Also, the increasing psychological disorders and need for emotional comfort propels the growth of the Polyester Soft Toys Market.
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