India USD 3 Billion Toy Market
Indian toy market In the kaleidoscope of childhood memories, toys stand as vibrant hues, shaping young minds and fostering joy. India, with its rich tapestry of traditional toys, is witnessing a remarkable transformation in its toy retail industry. For business heads and decision-makers, understanding this dynamic market is not just a strategy but a journey into the hearts of future consumers – the Gen Z entrepreneurs. The Thriving Indian Toy Market Picture this: In 2022, the Indian toy market painted a canvas worth USD 1.5 billion , a testament to its resilience and growth. Projections are nothing short of a fairy tale – a leap to USD 3 billion by 2028, with a magical CAGR of 12.2% from 2023 to 2028 . What conjures this growth spell? It's a symphony of rising earnings, a burgeoning middle class, an expanding population of children, and an enlightened understanding of the pivotal role play holds in child development. To fortify this enchantment, the government has woven spell...