Indian Toy Industry

TOYS AND GAMES IN INDIA Euromonitor International October 2011

TOYS AND GAMES IN INDIA

LIST OF CONTENTS AND TABLES Executive Summary .....................................................................................................................1 Preference for Branded Toys Grows at Faster Pace ................................................................1 Newer Partnerships and Tie-ups Help Bring Newer Toys To Market ........................................ 1 Competition Grows As Newer International Brands Enter Market ............................................1 Growth in Organised Retailing Helps Adoption of Private Label Products ................................1 Strong Demand for Newer Toys and Games Expected Over Forecast Period .........................2 Key Trends and Developments ....................................................................................................2 Branded Toys See Growth As Demand and Availability Improve .............................................2 Newer Tie-ups and Partnerships Offer Many Choices ..............................................................3 Entry of International Players Increases Competition ...............................................................4 Scientific/educational Toys Grow As Parents Look To Combine Fun With Learning ................5 Video Game Consoles Increasingly Popular As Prices Drop....................................................6 Market Data ..................................................................................................................................7 Table 1 Table 2 Table 3 Table 4 Table 5 Table 6 Table 7

Sales of Toys and Games by Category: Value 2005-2010...........................7 Sales of Toys and Games by Category: % Value Growth 2005-2010 ..........7 Toys and Games Company Shares by Value 2008-2010 ............................ 8 Toys and Games Brand Shares by Value 2008-2010 ..................................8 Sales of Toys and Games by Distribution Format: % Analysis 20052010 .............................................................................................................9 Forecast Sales of Toys and Games by Category: Value 2010-2015 ..........10 Forecast Sales of Toys and Games by Category: % Value Growth 2010-2015 .................................................................................................. 10

Sources ......................................................................................................................................10 Summary 1

Research Sources ...................................................................................... 10

© E u r o m o n i t o r I n t e r n a t i o n a l

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TOYS AND GAMES IN INDIA EXECUTIVE SUMMARY

Preference for Branded Toys Grows at Faster Pace The toys and games market in India in 2010 continued to grow in high double-digits and performed better than previous year. Growth was stimulated by factors such as improving disposable income among the middle class population, the focus on providing children with toys that are safe, and also the strong growth in organised retail chains in India. Demand for toys and games also registered higher growth in categories that facili tated learning with play. Categories such as scientific/toys and games registered relatively better growth than others. Overall the performances of both traditional toys and video games were good, but video games grew faster due to the category’s lower base.

Newer Partnerships and Tie-ups Help Bring Newer Toys To Market Due to the increased focus on child safety the preference for branded toys grew at a faster pace and captured some sales from cheaper non-branded toys. As demand for branded toys increased in India, there were many initiatives between local and international players that emerged in the form of tie-ups and partnerships. Realising the potential of demand in the toys and games market in India, many international players entered into partnerships with local toy manufacturers as well as retail chains such a s Reliance Retail Limited. This helped suppliers to achieve a set up in the Indian market and address problems of distribution. To start with, many international retailers targeted Indian urban areas, where the organised retail ch ains were growing faster. The newer partnerships also helped consumers, providing them with acc ess to many newer international toy brands that were previously unavailable in India.

Competition Grows As Newer International Brands Enter Market The market for toys and games became increasingly competitive over the review period. Many international brands such as Mattel, Funsk ool, Hamleys, Toys R Us, etc, increased their share and grew rapidly due to innovative products that suited the Indian households’ requirements. Domestic suppliers such as Hanung Toys & Textiles Ltd and Ok Play India Ltd also benefited from growth in demand for branded toys i n India. The competition introduced newer marketing concepts and propelled toys and games su ppliers to move beyond their traditional strongholds. The increased popularity of the concept of learning while having fun grew, and helped categories such as pre-school toys and scientific/educational toys.

Growth in Organised Retailing Helps Adoption of Private Label Products The Indian market continued to see good g rowth in its organised retail network with major retail players such as Reliance Retail Limited and Pantaloons Retail India Ltd expanding their number of stores further into smaller towns and cities. The growth in retailing helped toy marketers to provide end-customers with the right toy experience, helping to improve customer adoption of their toys. Organised retailing growth has also helped the development of private label products, as they are more profitable and provide superior value to customers.


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Strong Demand for Newer Toys and Games Expected Over Forecast Period As the Indian toys and games market is likely to mature further for branded toys, strong demand is likely for newer toys and games that provide consumers with good value. Innovation, coupled with the correct pricing, will help marketers differentiate themselves in the Indian toys and games market, and grow at a faster pace than its peers. The forecast period is likely to witness strong growth for toys that also facilitate learning and development of children. Toys in segments such as pre-school, scientific/educational, infant and construction are likely to witness stronger growth than others.

KEY TRENDS AND DEVELOPMENTS

Branded Toys See Growth As Demand and Availability Improve As an overall percentage of the total market branded toys have always struggled in India due to their perceived high cost, lack of distribution and weaker retailing infrastructure. However, this seemed to be changing in 2010, with branded toys market witnessing high double-digit growth, indicating a complete turnaround in India. With rising income and growth in awareness regarding the health hazards of cheaper toys, consumers were increasingly seeking to adopt branded toys for their children. An increased number of innovative products from both domestic and international players helped the overall to ys market to shift preferences towards branded toys. Current impact Branded toys and games witnessed an upswing in India due to improved consumer demand and availability. Branded toys were estimated to account for less than 20% of the total toys and games market at the end of the review period. Growth in demand for branded toys was good news for toys providers, as this is the segment where most organised players (both domestic and international) operate, and compete directly with unorganised players who are cheaper but low in terms of quality and innovation. Growth in demand for branded toys also indicated the changing dynamics for toys and games in India, as people were willing to pa y for better quality, safety and innovation. Rising i ncome levels among India’s middle class po pulation (estimated to number around 110 million at the time of writing) and growth in number of toy providers, helped the overall toys and games market in India in 2010. Urban India drives demand for branded toys and games. India’s urban consumers have higher levels of disposable income, are m ore aware of global trends in toys and games, and are more willing and able to spend on their children’s growth and happiness. Access to organised retailing chain was also better for the urban population, helping them to buy the best toys and games. Outlook As the Indian economy is likely to continue to witness real GDP growth of around 8% per annum in the short to medium term overall per capita income in India is likely to rise further. Increased income among consumers is likely to help demand for toys and games, which is increasingly shifting towards branded toys. Even though income is likely to rise for all segments of society, the middle class and uppermiddle class segments are likely to benefit most from this trend in the short to medium term. The


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urban middle class population is likely to have better retail access than suburban and rural consumers. Growth in demand for branded toys is likely to help marketers in expanding their distribution networks and improving brand presence. As an increasing number of branded toys are purchased, marketers will increasingly be able to differentiate themselves from non-branded toys and present a clear value proposition to customers. Future impact Over the forecast period growth in demand for branded t oys is likely to help toys and games providers (both traditional and video games) to expand their portfolios and gain share in India. However, the share for branded toys is likely to remain at less than half of the total market. Expansion of branded toys is likely to benefit consumers as well. Consumers are likely to have more choice in toys and games. The numbers of international brands is likely to grow further as many international players look to tap into growth of the Indian toy market and its huge potential. Focus on product quality is likely to increase and innovation in toys and games are likely to be key differentiators for providers. The average price point is likely to hold up as newer products with more features are likely to be introduced in the Indian market.

Newer Tie-ups and Partnerships Offer Many Choices As consumption of toys and games grew at a rapid pace in India in 2010, the market witnessed heightened activities by organised providers of toys and games. Many local and international players looked to expand their footprint in India, and introduced many newer products. Recognising the distribution as a bottleneck, many international players looked to enter into partnerships with local organised chain brands such as Landmark and Reliance Retail. For example, in 2010 UK toy retailer Hamleys set up a shop in India in partnership with Reliance Retail Ltd. Newer tie-ups and improved distribution brought greater choice to consumers and helped stimulate growth. Current impact The immediate impact of the newer tie-ups was improved supply of international toy brands in India. Global brands such as Hamleys and Toys R Us linked with Reliance Retail Ltd to make their products available in the Indian ma rket. Other international brands that were rapidly expanding their portfolios through local tie-ups in India were Funskool, Lego, Vivid, Simba, Jakks Pacific, University Games, Moose, Leapfrog, Spinmaster and Disney. Most of these retailers were expanding their product ranges in order to provide greater choice to Indian consumers. There were also attempts to expand reach through newly-built shopping malls and other organised retail chains in second-tier ci ties, which are largely untapped for foreign toy retailers. Domestic toys manufacturers benefited from the knowhow of international players and were increasingly looking to adopt the latest trends in toy manufacturing and distribution. Private label products owned by different retail stores such as Big Bazaar and Hypercity were increasingly innovative and easy to adopt. Marketers of toys and games increasingly f ocus on customer experience. Trends such as dedicated space for toys give marketers a good platform to provide end customers with a total toy experience rather than simply selling toys. For example, Hamleys set up dedicated toy space in Reliance Retail stores. As availability increased choices also increased for consumers. There was a challenge for many branded toy makers to differentiate themselves i n retail outlets. Many companies had dedicated staff to deal with consumers’ requests and showcase toy brands.


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Outlook Over the short to medium term partnerships and dis tribution tie-ups in the Indian toys and games industry is likely to continue for both traditional and video games. As t he market for toys in India is likely to become more mature and adopt branded products, providers will seek to expand their footprint further and make their products as ubiquitous as possible. For example, Hamleys plans to open 20 new stores over the forecast period in different cities in India. Newer partnerships are likely to create a win-win situation for both providers as well as consumers, as more global products become available to a wider range of consumers. Newer partnerships are likely to spur competition a nd help bring further quality and innovations to the Indian toys and games market. Overall consumer experience for toys and games is likely to improve, with many newer toys and dedicated retail space significantly contributing to this trend. Future impact In the longer term partnerships and tie-ups are lik ely to become more mature, targeting areas beyond metros and cities. Due to economic growth consumption capacity is rising in smaller towns as well. Also, the fact that smaller towns are still largely untapped with regard to to ys makes them attractive. Innovation in toys and games is likely to be boosted as partners in the industry look to share their technologies and know-how. Foreign partners are likely to help local manufacturers in terms of toys manufacturing design and technology, spurring innovation. Over the forecast period a clearer policy reg arding foreign participation in organised retailing is likely to emerge (at the ti me of writing foreign players are not allowed to open their own retail outlets). This will help international toy retailers such as Hamleys to have specialised toy stores in their own name, and such players will not have to rely on a local partner for sales in India.

Entry of International Players Increases Competition Many international players such as Mattel, Inc, Hamleys Toys, Hasbro International Ltd and brands such as Disney, Simba, Leapfrog, Spinmaster Moose, Vivid and Lego have entered the Indian market in recent times and made a good impact. The Indian market is witnessing higher growth of these international toys due to the absence of larger domestic manufacturers. Competition has increased for smaller domestic toy suppliers who are mostly regional in their geographic reach, and rely heavily on their price advantage. The entry of international players is forcing some domestic toy producers to launch innovative products that are safe and of good quality. Current impact Growth of international brands has increased the penetration of better quality toys and made the overall toys and games environment h ighly competitive. Price is no longer the onl y differentiating factor, as consumers are increasingly willing to pay more for quality products that are global in outlook and offer good value for money. Innovation has increased and toy safety has become immensely important for consumers. Competition has also forced domestic players to l ook for partnerships with these international players, as on their own domestic players would not be able to match the products offered by their international counterparts. There are many different importers who actually import different brands and are small players. However, there are companies such as MRF, which has a partnership with Hasbro and produces its Funskool brand.


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The focus is on providing value-for-money toys tha t cater to many segments of society. Domestic players are also upgrading their manufacturing systems and adopting the technologies of international players in order to i mprove overall quality. Newer distribution patterns have emerged, with even bookstores such as Landmark increasingly marketing and selling toys. Many hypermarkets such as Hypercity have dedicated toy areas. Toy sales via the Internet are also growing. Besides toy companies’ own websites, there are third-party websites such as indiaplaza.com, homeshop18.com, retailmart.com, toysindia.com, etc, which offer a wide range of toys in India. Outlook Over the short to medium term competition from international players is likely to grow further for domestic toy suppliers. This is l ikely to improve the overall quality and safety of toys offered in India. The urban population is likely to benefit most from this trend, with better access to organised retail chains. There are strict import quality guidelines for Chinese toys in India at present, and these are likely to remain in place i n the short term. This is likely to give a further advantage to international toy players in India, as they will not have to compete in terms of price, wherein Chinese toys have a distinct advantage. With competition rising greater specialisation by international companies on regional varieties of toy is likely to become more important in India. Local mythological figures such as Rama and Hanuman are likely to be adopted by both international as well as domestic players i n order to further their distribution in suburban and rural India. Future impact Over the forecast period competition in toys is likely to intensify, with many f oreign brands (both American as well as European toy brands) entering the In dian market due to its high untapped potential. Adoption of local, country-specific content and characters and games is likely to accelerate further as marketers look to push their toys beyond metro cities, to areas where international games are not popular. An increasing number of l ocal figures are likely to surface i n games offered in India. Overall, unit prices of traditional toys a re likely to hold as the share of more expansive branded toys is likely to grow in the long term. However, video game unit prices mi ght come down due to increased consumption of such products in India.

Scientific/educational Toys Grow As Parents Look To Combine Fun With Learning With the rise of the middle class in India there is growing awareness of the value of education. This has contributed to a trend wherein parents in India are increasingly looking to adopt scientific and educational toys and combine learning with fun. This has led to increased demand for scientific and educational toys. Companies such as Mattel, Inc and Funskool India Ltd have tapped this growth by offering wide range of scientific/educational toys to Indian customers. Most scientific/educational toys are aimed at children aged under 14, and are largely driven by parental purchasing decisions. Growth of scientific/educational to ys has mostly come from urban India, where awareness regarding education is greater. Also, there is a growing trend of sending children to Pre-school ahead of primary school in India as the importance of education becomes more tangible in attainment of professional specialization.


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Current impact International companies such as Mattel, Inc and Funskool India Ltd have particularly benefited from the rise in demand for scientific /educational toys. Due to their wide product range, international companies were better placed than domestic companies to tap this demand, and are able to achieve a good hold over this environment. There are games such as educational kids’ laptops and reading systems, c ounting games and different types of learning phones, etc , which are becoming increasingly popular in India. Most of these games improve the logical s kills in children and help them with basic learning of letters and numbers. The concept of learning while having fun is increasingly popular in India. Parents are looking to provide their children with toys that facilitate learning and do not mind paying extra for such products. This has proven to be a great segment for toy marketers, enabling them to charge a premium for their products without adversely impacting their share. Outlook Over the short to medium term growth in demand for scientific/educational toys is likely to remain strong, as there is still a large segment of market that is untapped. Though growing rapidly, the scientific/educational toys category is still relatively small and there is a lot of scope for growth of such products in India. In the short term, sales of scientific/educational toys are likely to remain limited to urban India due to their higher costs and lack of availability in rural areas. Scientific/educational toys represent a great learning experience and are thus l ikely to maintain good sales in urban India. It is expected that international toy makers such as Mattel will continue to hold a major share in the Indian scientific/educational toys category in the short to medium term. There is no domestic competition available and it will prove difficult to dislodge already established players. Future impact In the long run, with growth in per capita income, per capita expenditure on toys is also likely to increase significantly. This will be driven by expenditure in urban areas, propelled through the advent of newer organised retail chains. This will boost demand for scientific/educational toys, making them more important in the Indian market. Scientific/educational toys are also likely to become cheaper as volume increases. Newer innovations such as play and learning letters and numbers, newer children’s laptops coupled with expected local production of such toys is likely to make these products more profitable for marketers and less expensive for consumers.

Video Game Consoles Increasingly Popular As Prices Drop India witnessed very high demand for video game c onsoles in 2010. Distributors pointed out that prices of video game consoles such as Sony’s PlayStation, Nintendo’s Wii and Microsoft’s Xbox dropped significantly in India. This led to growth in adoption of these games, especially in urban areas. Growth in electronic retail chains such as ezone, Croma and Viveks has helped to showcase these products and enable marketers to reach the correct consumer segment. The availability of newer games by leading suppliers s uch as Sega Corp and Konami has also helped stimulate growth in video game consoles. Current impact Declining prices of console games have led to rapid growth in India. The immediate impact of this trend was the increased popularity of both static as well as handheld games by leading suppliers such Sony Corp (Sony PlayStation), Microsoft (Xbox) and Nintendo (Wii).


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Static consoles grew better than handhelds due to their superior quality and graphics. Handheld consoles face many competitors in the form of cheaper Chinese games, and thus saw limited growth in India. The growth of static consoles also led to a rapid increase in demand for related software, with all the leading games launched in India by global producers such as Sega Corp and Konami. Outlook New handheld consoles releases in 2011, such as Nintendo’s 3DS and Sony’s Vita are likely to stimulate growth in the handheld market over the next years. Handheld game consoles are currently more popular in India than their static counterparts in terms of market share, and the handheld market will be an area of major growth during the next couple of years. Static game consoles are becoming more established in India too, and related accessories are likely to continue to sell well. Sales of accessories such as Sony Move for PlayStation 3, Microsoft Kinect for Xbox 360 are forecasted to grow further over the 2011-2015 forecast period. The motion sensing technology appeals more to family gamers than hardcore gamers, as these accessories are only available for the consoles at the moment. The dominance of electronics stores for sales of static video games consoles is likely to be maintained in the short to medium term as more such stores are likely to enter the Indian market. Specialised retail stores provide a good environment for marketers to showcase their products, and helps consumers make purchasing decisions. Future impact In the longer term the popularity of video game consoles is likely to continue to rise as consumers’ disposable incomes improve. The say of children in the average Indian household is likely to grow as focus increases on children’s desires and well-being. Established marketers such as Microsoft India Ltd, Sony India Ltd and Nintendo Co Ltd are likely to have an edge over others in console hardware due to their established distribution l ines and familiar brands. The average price of console video games is likely to drop further as volumes are expected to rise and duty rationalisation on imported electronic products such as video games is likel y to come down in India.

MARKET DATA Table 1

Sales of Toys and Games by Category: Value 2005-2010

Rs million

Traditional Toys and Games Video Games Toys and Games Source:

Table 2

2005

2006

2007

2008

2009

2010

22,310.5

25,238.7

29,525.1

34,382.3

40,515.9

48,206.7

3,456.5 25,767.0

4,677.9 29,916.6

6,204.7 35,729.8

8,237.4 42,619.7

11,074.4 51,590.3

15,455.4 63,662.1

Euromonitor International from official statistics, trade associations, trade press, company research, store checks, trade interviews, trade sources

Sales of Toys and Games by Category: % Value Growth 2005-2010

% current value growth 2009/10


2005-10 CAGR

2005/10 TOTAL

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19.0 39.6 23.4

16.7 34.9 19.8

116.1 347.1 147.1


Table 3

Toys and Games Company Shares by Value 2008-2010

% retail value rsp Company

2008

2009

2010

Mattel Toys (India) Pvt Ltd Funskool India Ltd Nintendo Co Ltd Microsoft Corp (India) Pvt Ltd Hanung Toys & Textiles Ltd The Walt Disney Co (India) Pvt Ltd Sony India Pvt Ltd OK Play India Ltd Atari India Ltd Archies Greetings & Gifts Ltd Mitashi Edutainment Pvt Ltd Me n Moms Pvt Ltd My Baby Excels Ltd Sega Corp E-xpress Interactive Ltd Activision India Ltd Crayola LLC Private Label Others Total

12.3 9.1 1.9 1.9 2.6 1.8 1.3 1.2 0.7 1.9 0.6 0.3 0.4 0.3 0.2 0.3 8.7 54.4 100.0

13.6 10.9 3.3 2.7 2.9 2.0 1.8 1.4 1.1 1.7 0.8 0.5 0.5 0.3 0.4 0.3 0.4 9.2 46.3 100.0

14.0 11.6 4.5 3.5 3.3 2.3 2.3 1.7 1.6 1.5 0.9 0.8 0.6 0.6 0.5 0.4 0.4 9.8 39.8 100.0

Source:


Table 4

Toys and Games Brand Shares by Value 2008-2010

% retail value rsp Brand Funskool Fisher-Price Barbie Play-n-Pets OK Play Archies Soft Toys Hot Wheels Wii Mattel Xbox Mitashi Nintendo DS Atari Mee Mee Lego


Company Funskool India Ltd Mattel Toys (India) Pvt Ltd Mattel Toys (India) Pvt Ltd Hanung Toys & Textiles Ltd OK Play India Ltd Archies Greetings & Gifts Ltd Mattel Toys (India) Pvt Ltd Nintendo Co Ltd Mattel Toys (India) Pvt Ltd Microsoft Corp (India) Pvt Ltd Mitashi Edutainment Pvt Ltd Nintendo Co Ltd Atari India Ltd Me n Moms Pvt Ltd Funskool India Ltd

2008

2009

2010

2.9 2.4 2.3 2.0 1.2 1.9

3.1 2.7 2.6 2.2 1.4 1.7

3.3 3.0 2.5 2.5 1.7 1.5

1.1 0.6 0.9 0.6

1.3 0.9 0.9 0.8

1.3 1.2 1.0 1.0

0.6 0.5 0.4 0.3 0.5

0.8 0.8 0.6 0.5 0.6

0.9 0.9 0.8 0.8 0.8

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Sony PlayStation Disney Precious Princess Playskool Crayola Wii-nintendo Harry Potter & The Half Blood Prince Wii-nintendo Furu Furu Park Sony PlayStation 3 Play-Doh Wii-nintendo Fifa Soccer 09 Matchbox Fable Disney Pixar Sega Disney Wii-nintendo Ice Age 2 Private label Others Total Source:

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Sony India Pvt Ltd The Walt Disney Co (India) Pvt Ltd Funskool India Ltd Crayola LLC Nintendo Co Ltd

0.5 0.5

0.7 0.6

0.8 0.7

0.3 0.3 0.2

0.4 0.4 0.2

0.4 0.4 0.4

Nintendo Co Ltd

0.2

0.2

0.4

Sony India Pvt Ltd Funskool India Ltd Nintendo Co Ltd

0.1 0.2 0.2

0.2 0.3 0.2

0.4 0.4 0.3

Mattel Toys (India) Pvt Ltd Microsoft Corp (India) Pvt Ltd The Walt Disney Co (India) Pvt Ltd E-xpress Interactive Ltd The Walt Disney Co (India) Pvt Ltd Nintendo Co Ltd Private Label

0.3 0.2

0.3 0.2

0.3 0.3

0.3

0.3

0.3

0.2 0.2

0.2 0.3

0.3 0.3

0.2 8.7 69.4 100.0

0.2 9.2 65.2 100.0

0.3 9.8 61.1 100.0


Table 5

Sales of Toys and Games by Distribution Format: % Analysis 2005-2010

% retail value rsp

Store-Based Retailing - Grocery Retailers - - Discounters - - Hypermarkets - - Supermarkets - - Other Grocery Retailers - Non-Grocery Retailers - - Electronics and Appliance Specialist Retailers - - Mixed Retailers - - - Department Stores - - - Mass Merchandisers - - - Variety Stores - - - Warehouse Clubs - - Leisure and Personal Goods Specialist Retailers - - - Traditional Toys and Games Stores - - - Media Products Stores - - - Other Leisure and Personal Goods


2005

2006

2007

2008

2009

2010

98.4 29.6 4.1 9.3 7.7 8.4

98.1 29.9 4.2 9.4 8.5 7.8

97.8 30.7 4.6 9.5 9.3 7.3

96.8 31.4 5.0 10.1 9.6 6.7

95.2 31.0 5.1 10.3 9.5 6.1

94.0 32.2 5.3 10.9 10.5 5.5

68.8 4.0

68.2 4.4

67.1 4.7

65.4 5.2

64.2 5.6

61.8 6.1

19.1 8.4 10.8 10.8

19.5 9.0 10.5 11.9

19.9 9.6 9.5 0.8 13.0

19.6 9.7 8.6 1.2 13.9

19.6 9.9 8.4 1.3 14.9

18.7 10.1 7.1 1.5 16.2

5.0

5.1

5.6

5.8

6.1

6.5

2.7

3.3

3.7

4.1

4.4

5.0

3.0

3.4

3.7

4.0

4.3

4.7

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Specialist Retailers - - Other Non-Grocery Retailers Non-Store Retailing - Vending - Homeshopping - Internet Retailing - Direct Selling Total Source:

35.0

32.5

29.5

26.6

24.1

20.8

1.6 0.6 1.0 100.0

1.9 0.7 1.2 100.0

2.2 0.7 1.5 100.0

3.2 0.8 2.4 100.0

4.8 0.9 3.9 100.0

6.0 1.0 5.0 100.0


Table 6

Forecast Sales of Toys and Games by Category: Value 2010-2015

Rs million


2010

2011

2012

2013

2014

2015

48,206.7

57,523.5

69,196.0

83,780.5

102,020.5

125,220.4

15,455.4 63,662.1

21,429.0 78,952.4

28,921.6 98,117.6

39,047.0 122,827.4

52,652.8 154,673.3

71,020.4 196,240.8

Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

Table 7

Forecast Sales of Toys and Games by Category: % Value Growth 2010-2015

% constant value growth 2010-15 CAGR

2010/15 TOTAL

21.0 35.7 25.3

159.8 359.5 208.3


Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

SOURCES Sources used during research include the following: Summary 1

Research Sources

Official Sources

Business World NCAER- National Council of Applied Economic Research Prowess Database Registrar of Cos

Trade Associations

All India Toy Manufacturers As Sports Goods Export Promotion Council (SGEPC) Toy Association Of India Toys Association of India


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Trade Press

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Business India Business Standard Business Today CIOL Economic Times Gifts & Accessories IBID indianindustry.com International Business Times Live Mint MAGINIDA rediff.com screenindia.com The Indian

Source:

Euromonitor International


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Indian Toy Industry

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