Childhood is always incomplete without toys. The small chugging engine, the soft teddy bears, the small cars, the building blocks, the dolls and the doll house, it was all like a treasure for us. We played with it; we took them to our bed with us, shared it with our friends and sometimes even quarreled for them. They were like our world to us. They were the most precious objects for us. We felt, on top of the world when we had our favorite toy with us and completely lost when we lost them or when they were broken. We always wanted to hold them close by and wished that playtime never gets over. Toys hold a very special place in children’s life. They not only become an object of amusement, but sometimes create a bond with us for life. Some of them happen to be so close to us that we keep and preserve them for life.
Toys and games come in various forms, shapes and sizes. From miniature size that can fit in a pocket, to large sized one that requires an entire hallway or a large playground to play with. From the prehistoric times, to the modern era, it has undergone significant changes. Board games, racing cars and tracks, action figures, remote controlled cars and planes, dolls are the types of toys available in the market. The Indian toy market too has witnessed a noteworthy change in the past couple of years. Several branded toys have entered the market. Companies like Leo Mattel, Fisher Price, Funskool and Lego have made a substantial place for them, apart from the domestic toy manufacturers. GI Joe, Barbie dolls, superhero action figures and hot wheels are some of the hottest selling items in the toy market of India. Battery operated cars and bikes are also highly popular among kids.
Electronic and educational toys too; share a similar market share. As these products are related to children, safety standards and potential hazards are taken into consideration so that they don’t cause any harm or injury to the children. Recently, there also has been a huge influx of Chinese toys in the Indian toys and games market. The Indian toy industry is very scattered, unorganized and is mainly influenced by small and midsized manufacturers apart from the major toy companies.
According to a new report the Indian toy industry is anticipated to grow by 30% by 2015. The industry, which is worth around 8000 crore may touch an amazing figure of 13000 crore by that period with an annual growth rate (CAGR) of about 20%. This is mainly due to the higher income scale of the middle class and the upper middle class urban families and their growing expenditure on kids. Also the ever growing kid’s population and their demands are contributing to the expansion of this sector as well. Hence it can be said that they are not only a good playmates for the child, but a great tool of profit for the toy industry.