This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Games And Puzzles Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global games and puzzles products market was valued at USD 29.6 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The rising popularity of board, card, and video games is driving the growth of the market. The increasing focus on the development of new games and puzzles with innovative designs is propelling the demand for these products. Furthermore, the growing popularity of online gaming and the introduction of interactive and educational games are further driving the growth of the market.
The growing penetration of digital devices such as smartphones, tablets, and gaming consoles has further encouraged the development of video games, which has led to an increase in the demand for games and puzzles products. Additionally, rising disposable incomes, especially in developing countries, have enabled people to spend more on leisure activities, thus driving the demand for these products.
The increasing popularity of eSports is another major factor driving the growth of the market. The increasing number of eSports tournaments and the rising investments in the eSports industry are expected to further propel the market. Furthermore, the growing number of players and viewers is expected to further drive the market.
Moreover, the introduction of artificial intelligence (AI) and virtual reality (VR) into gaming is expected to further propel the growth of the market. For instance, in April 2021, Sony launched its PlayStation 5 console, which is equipped with a dynamic AI and VR gaming experience. The new console is expected to revolutionize the gaming experience with its powerful hardware and advanced technology.
The increasing focus on product innovation, such as the introduction of virtual game boards, is expected to further drive the market. For instance, in April 2021, Hasbro launched a new version of the Monopoly game, titled Monopoly Voice Banking. The game includes voice-activated banking, which eliminates the need for paper money and cards. Furthermore, the introduction of new themes and characters is expected to attract new users, thus driving the growth of the market.
Product Insights
The board games segment is expected to dominate the market and account for a share of around 40.1% in 2022. Growing popularity of board games among families during the COVID-19 pandemic has been driving the market growth. According to an article published by the New York Times, in April 2020, the board game sales in the U.S. increased by nearly 50% in the first quarter of 2020 as compared to the same period in 2019, owing to the surge in the demand for board games amid the pandemic. Furthermore, the increasing number of board game cafes and the introduction of new board games are some of the major factors driving the market.
The jigsaw puzzles segment is anticipated to register the fastest CAGR of 9.7% over the forecast period. Growing popularity of jigsaw puzzles among adults and children is one of the major factors driving the market. According to an article published by the University of California, in June 2020, jigsaw puzzles are very effective in improving mental health and can even help reduce the symptoms of depression and anxiety. In addition, the growing popularity of online puzzles, increasing number of stores offering puzzles, and rising demand for personalized puzzles are some of the key factors driving the demand for jigsaw puzzles.
Distribution Channel Insights
The brick and mortar segment captured the major share of over 42.2% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards physical stores as a primary source to purchase games and puzzles products. According to a study by Statista in 2020, consumers are more likely to purchase games and puzzles products in-store rather than online. The stores provide a wide selection of products, which helps customers in making rapid purchasing decisions and allows them to compare the features and prices of the products.
The online segment is anticipated to expand at the highest CAGR of 12.7% over the forecast period. The development of e-commerce in the games and puzzles industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. In addition, it provides customers with the convenience of shopping from anywhere and anytime. For instance, in December 2020, Hasbro launched a new online store, Hasbro.com, which offers a wide range of games and puzzles products. The website also provides exclusive offers and discounts to its customers.
Type Insights
The physical segment accounted for the largest revenue share of 84.5% in the year 2022. The demand for physical games and puzzles has been increasing due to the growing preference for traditional forms of entertainment. Moreover, the increasing trend of board games among families has also propelled the segment growth. For instance, in December 2020, American board game and puzzle company Hasbro launched a new version of its classic board game Monopoly, named Monopoly Voice. This product allows players to interact with the game using voice commands.
The digital segment is anticipated to expand at the highest CAGR of 10.9% over the forecast period. The large penetration of the internet and the increasing trend of digital gaming have increased the popularity of digital games and puzzles. The increasing demand for digital games and puzzles, especially in developing countries has led to the rapid growth of the segment. Moreover, the growing demand for mobile games has further fueled the segment growth. For instance, in October 2020, mobile game developer Zynga launched Harry Potter Puzzles & Spells, a game based on the Harry Potter franchise.
Regional Insights
The Asia Pacific region is expected to witness the highest growth in the coming years, owing to the increasing demand for puzzles and games in the region. An increase in disposable income, along with the rising number of digital gamers and developing online gaming platforms, is expected to drive the growth of the market in the region. Moreover, the rising popularity of mobile gaming is also expected to contribute to the growth of the market. For instance, in April 2022, SEGA launched a new mobile game, Puyo Puyo Tetris, in Asia.
The market in Europe is expected to witness steady growth during the forecast period. An increasing demand for artificial intelligence (AI) powered games and puzzles is expected to drive the growth of the market in the region. Furthermore, the rising popularity of virtual reality (VR) and augmented reality (AR) games is expected to further drive the growth of the market. For instance, in April 2022, Sony released its VR game, Astro Bot Rescue Mission, in Europe.
Financial Projections
In this part of the games and puzzles products business plan we will provide a detailed breakdown of all income and expense categories of the business. These projections include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a games and puzzles products business comes from the sale of products, including board games, puzzles, collectibles, card games, and video games. Other possible sources of income include online sales, subscription fees, sponsorship, and advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the games and puzzles products business running will be described. The list of operating expenses includes inventory costs, wages, utilities, maintenance and repairs, rent, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the games and puzzles market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Hasbro Inc. launched the classic Battleship game, which has been updated to include digital capabilities.
– In August 2022, Ravensburger launched a range of 3D puzzles for adults and children.
– In October 2022, Mattel Inc. launched the Uno card game with augmented reality capabilities.
Some of the prominent players in the games and puzzles market include:
– Hasbro Inc.
– Mattel Inc.
– The LEGO Group
– Winning Moves Games
– Spin Master Ltd.
– Ravensburger
– Goliath Games
– Z-Man Games
– Gamewright
– Buffalo Games
Global Games And Puzzles Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global Games and Puzzles products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Board Games
– Video Games
– Card Games
– Jigsaw Puzzles
– Brain Teasers
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Physical
– Digital
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the key segments of the Games and Puzzles Products Market?
[A]: The global games and puzzles products market is segmented into product type, distribution channel, and region. By product type, the market is segmented into board games, card games, jigsaw puzzles, and others. By distribution channel, the market is segmented into online retail, offline retail, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
[Q]: Who are the Key Players in the Games and Puzzles Products Market?
[A]: Some of the key players in the games and puzzles products market include Hasbro, Inc., Mattel, Inc., The LEGO Group, Ravensburger AG, Zoch Verlag GmbH, Goliath B.V., Winning Moves Games, Blue Orange Games, Marbles the Brain Store, and Spin Master Corp.
[Q]: What Factors are Driving the Games and Puzzles Products Market?
[A]: Factors such as the increasing popularity of online gaming, increasing disposable income, and the increasing use of smartphones are driving the growth of the global games and puzzles products market.
[Q]: What is the Potential of Product Innovation?
[A]: The potential for product innovation in the games and puzzles products market is high. Companies are investing in innovative technologies such as augmented reality and virtual reality to create new gaming experiences. Companies are also focusing on developing interactive board games and puzzles to provide an immersive gaming experience.
[Q]: What are the Key Opportunities in the Games and Puzzles Products Market?
[A]: The key opportunities in the games and puzzles products market include the introduction of new gaming concepts, the development of innovative products, and the increasing demand for online gaming. The increasing demand for online gaming has opened up a new avenue of growth for companies in the market to capitalize on.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
