INDIAN TOY INDUSTRY AT A GLANCE IN 2022 - 2023
The Indian toys market size reached US$ 1.5 Billion in 2022. Looking forward, the market is expected to reach US$ 3.0 Billion by 2028, exhibiting a CAGR of 12.25% during 2022-2028.
India's toy exports have surged by 60% since 2018-19, rising from $203.46m to $325.72m in 2022-23. Revenue in the Toys & Games market amounts to US$1,623.00m in 2023. The market is expected to grow annually by 5.11% (CAGR 2023-2028).
Factors driving growth of the Indian Toy Industry include rising earnings, an increase in the number of children (younger population), a growing middle class, growing awareness and an increased understanding of the role of play in child development.
Export and Import of ToysToy imports to India have declined from US$ 332.55 million in 2014-15 to US$ 109.72 million in 2021-22, a 67% decrease. Furthermore, exports of Toys from India have surged from US$ 96.17 million in 2014-15 to US$ 326.63 million in 2021-22, a 240% increase.
India’s export of toys registered a huge growth of 636% in April-August 2022 compared to the same period in 2013. Toy imports fell by 70% to $110 million (Rs. 877.8 cr) in FY22.
