New research from RnR Market Research shows that while the sale of toys and games in European countries has been hard hit by recent economic troubles, sales in Asia Pacific are going strong.
In fact, if current growth rates continue Asia Pacific is set to top North America as the largest traditional toys and games market globally; the region is already the biggest market for mobile gaming. Thanks to phenomenal growth in China, Thailand and India, Euromonitor projects that Asia Pacific will add $7.2 billion to global sales of traditional toys and games over the next five years.
The same does not hold true in Europe where countries such as France and the U.K. saw a decline in toy sales.
The value of the U.K.’s toy and games market has declined over the last three years. In France toy and games sales also saw a small decrease that hit the video game industry the hardest, with consumers moving to cheaper digital games.
One bright spot in the region is Germany, which has seen sales growth since 2007, another indicator of Germany’s economic strength in the region.
Full copies of toys and games reports for regions around the world are available at RnRMarketResearch.com.