The toy industry's primary target market is families with small children.
The toys market is divided into four categories: product type, age group, distribution channel, and region. The global market is divided into action figures, building sets, dolls, games/puzzles, sports & outdoor toys, plush, and others based on product type. It is studied in three age groups: up to 5 years, 5 to 10 years, and over 10 years.
This graph depicts the global trade value of the major exporters of toys, games, and sporting goods in 2020, broken down by nation. China's toy, game, and sport essential exports were valued at around 71.53 billion dollars in 2020.
In February 2020, the Basic Custom Duty (BCD) on toys with HS Code 9503 was raised from 20% to 60%. On February 25, 2020, the government published the Toys (Quality Control) Order, 2020, which requires toys to be certified by the Bureau of Indian Standards (BIS) beginning January 1, 2021.
Over 80% of toys used in India are imported, with China accounting for the majority.
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