Circana: Global Toy Industry Sales Decline 7 Percent in 2023

Global Toy Sales in 2023 Grew 17 Percent Compared to 2019

The following article is based on a press release issued by Circana on January 30, 2024.

January 31, 2024 | Global toy industry sales declined 7 percent from January through December 2023, compared to the same 12-month period in 2022, according to Circana. The data is based on retail sales performance figures across the 12 global markets (G12) that Circana tracks, including Australia, Belgium, Brazil, Canada, France, Germany, Italy, Mexico, Netherlands, Spain, the UK, and the U.S.

However, the global industry grew 17 percent when compared to 2019, according to Circana’s Retail Tracking Service, likely driven by increases in average selling price (ASP). In 2023, ASP increased 1 percent year over year and increased 18 percent versus 2019.

Two of the 11 supercategories Circana tracks experienced a year-over-year sales increase in 2023 within the G12 when compared to 2022. Building sets grew four percent, followed by plush, which grew 3 percent.

Licensed toys account for 31.1 percent of the total toy market, highlighting the continued importance of characters and franchises in driving sales. Pokémon retained its crown as the top-selling toy property globally, followed by Barbie, Star Wars, Marvel, and Hot Wheels. Notably, LEGO Icons emerged as the top-gaining property.

“With inflation at the highest level we have seen in decades and birth rates at their lowest in many countries, the global toy industry faced new challenges in 2023,” said Frédérique Tutt, global toys industry advisor at Circana. “Consumers across many regions had to make difficult trade-offs and reduced their spending on toys and games. We saw different regions reacting differently to these economic challenges, with Europe contracting back to 2019 levels while U.S. sales remained 26% higher compared to 2019. As economies continue to improve, the industry should experience some respite in 2024, particularly as the flow of new products and innovations reintroduce the wow factor and encourage engagement. This should help to stabilize sales.”

Circana also released the winners of its Annual Global Toy Industry Performance Awards, which recognize the top selling toys, properties, and manufacturers across the U.S., Europe, Canada, Brazil, and Mexico. LEGO was awarded the Global Toy Manufacturer of the Year and Pokémon was named the Global Top Toy Property of the Year. Click here to view other award results.