DUBLIN, Nov. 13, 2023 /PRNewswire/ — The “Global Table Top Games Market: Trends and Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global table top games market was valued at US$23.58 billion in 2023, and is expected to be worth US$37.11 billion in 2028.
Recent years have seen an increase in the popularity of board games, card games, and strategy-based games among families, children, and young millennial populations. Another important driver of the expansion of the table-top games market has been the growing acceptance of board games at game bars and cafes. The table top games market is dynamic. Ongoing consolidation may lead to tougher competition in the industry. The table top games market is determined to grow at a CAGR of 5.80% over the forecasted period of 2023-2028.
Market Segmentation Analysis:
-
By Type: The market includes three segments: Board Games, Puzzles, and Playing Cards. Board games, further divided into products like Monopoly, Chess, Ludo, Scrabble, and others, dominated the market in 2022. Their resurgence is attributed to the appeal of face-to-face social interaction in an increasingly digital world. Board games offer tangible and shared gaming experiences, fostering social bonds and memorable moments. Additionally, innovation in game design, immersive themes, complex strategies, and engaging gameplay mechanics have contributed to their popularity.
-
By Distribution Channel: Two segments include Brick and Mortar and E-Commerce. E-Commerce is expected to experience the highest CAGR, driven by manufacturers recognizing the potential of online sales and operating shopping websites.
-
By End User: Three segments categorize the market: Below 8 Age, 8-15 Age, and 15 Age & Above. The below 8 age group is anticipated to grow at the fastest CAGR, driven by the popularity of educational activities like puzzles, building sets, and construction sets. These games foster problem-solving, social interaction, and fine motor skills in young children.
-
By Region: The global tabletop games market is divided into four regions: Asia Pacific, North America, Europe, and the Rest of the World (ROW). North America has emerged as a dominant player due to increased disposable income, the presence of gaming companies, and the early adoption of board games and puzzles in education. The region has witnessed significant growth in the games and puzzle market, driven by various factors, including the availability of age-appropriate games.
Market Dynamics:
- Growth Drivers: Several factors contribute to market growth, including rapid urbanization, increased online sales, rising demand for kids’ puzzles, a shift toward indoor games, commercialization of movies and cartoon characters, and improvements in board game content and functionality. Educational board games are increasingly accepted by parents and educators, fostering creative development and enhanced learning experiences.
- Challenges: The market faces challenges such as consumer preference for mobile and PC games and counterfeit tabletop games, particularly in regions with insufficient trademark protection.
- Trends: Emerging trends include the growing use of social media, increased awareness of mental health issues, rising popularity of theme-based games, the introduction of new and innovative puzzles, and the integration of board games into cafes.
Competitive Landscape:
The market for table top games is fragmented. Prominent market leaders are making substantial investments in research and development endeavors with the aim of broadening their product portfolios, thereby fostering further growth in the table-top games market. These industry participants are engaging in a diverse range of strategic initiatives to expand their market presence.
Notable developments in the market encompass new product introductions, contractual arrangements, mergers and acquisitions, increased investments, and collaborations with other entities. In order to thrive and prosper in an increasingly competitive and expanding market landscape, the table top games sector must offer cost-efficient offerings.
The key players in the global table top games market are:
- Ravensburger
- Mattel, Inc
- Buffalo Games
- Goliath Games, LLC
- Hasbro Inc.
- Asmodee
- CMON Games
- North Star Games
- Zobmondo
- Grey Fox Games
One of the primary strategies employed by manufacturers within the table-top games industry to benefit their customers and augment their market share involves local production to minimize operational expenditures. Leading entities in the Table-Top Games market, such as Hasbro Inc., Asmodee, Mattel, Inc., Ravensburger AG, Grand Prix International, and Buffalo Games are actively striving to boost market demand through their investments in research and development initiatives. For instance, in April 2023, Hasbro came into partnership with Panini America, a sports trading cards publisher, to introduce NBA Prizm Trading Cards to a new Board Game
For more information about this report visit https://www.researchandmarkets.com/r/26o71n
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
