The size of the organised toy industry in India is estimated to be between Rs 3,500-4,500 crore, of which native toys constitute 12-13 per cent. The lion's share of 87-88 per cent - belongs to international brands such as Mattel and Fischer Price, whose products are imported in India.
The Indian toys market was worth US$ 1.75 Billion in 2019. Revenue in the Toys & Games segment amounts to US$38,168m in 2020. The market is expected to grow annually by 9.6% (CAGR 2020-2023).
It is no surprise that Indian toy industry is accelerating thanks to greater internet penetration, sizeable young population and rise in disposable income levels. According to market research firm IMARC, the market is further estimated to cross US$ 3.3 Billion by 2024, growing at a CAGR of 13.3% during 2019-2024.
In India, the toy market is dominated by unbranded Chinese products with 90% of the market being unorganised. These Chinese toys do not comply with channel, quality or safety norms and thus turn out to be much cheaper for the Indian population.
The market is further projected to cross US$ 2.9 Billion by 2023, at a CAGR of 13.9% during 2018-2023.