Circana: U.S. 2024 Toy Sales Remain Flat, Moving from ‘Correction to Consistency’

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

stock photo of toysJanuary 30, 2025 | U.S. toy industry sales from January through December 2024 were flat with sales down 0.3 percent, compared to the same 12-month period in 2023, according to Circana. Declining rates across dollars and units have slowed substantially compared to 2023 when dollars declined by 7 percent. Although U.S. retail sales of toys remained flat between 2023 to 2024, the dollar value of the toy market grew 26 percent in 2024 compared to 2019.*

In 2024, three of the 11 supercategories that Circana tracks posted dollar growth. Building Sets was the fastest-growing category, up 16 percent, driven by LEGO Botanicals. Sales of Explorative and Other Toys grew by 10 percent, led by NBA, and Vehicles increased by 2 percent, driven by Monster Jam. U.S. toy industry dollar volume and trends by supercategory shows Outdoor & Sports Toys continue to be the largest category at $4.3 billion according to Circana. U.S. market size for the total toy industry for 2024, projected to 100% of the market, was approximately $42.0 billion, according to Circana.*

“Toy sales experienced stabilization in 2024 as the industry moved from a state of correction to consistency,” said Juli Lennett, U.S. toy industry advisor at Circana. “Stabilizing tailwinds including growth in the adult toy market helped balance out the headwinds including higher grocery prices and rising consumer debt. In 2025, I expect we will see the toy industry move from consistency to creativity; we have a stronger lineup of highly anticipated toyetic movies coming in 2025 and 2026 to stimulate growth for the industry.”

Global Toy Industry
Global toy industry sales also remained flat from January through December 2024, declining by .6 percent, compared to the same 12-month period in 2023. 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.

In 2024, the average selling price was flat year-over-year (declining .2 percent), following four consecutive years of growth. Five of the 11 supercategories had a year-over-year dollar sales increase within the G12:

  • Building sets grew for the fifth consecutive year and captured the top spot in terms of both sales and growth, up 14 percent.
  • Explorative and other toys grew 5 percent
  • Vehicles increased 3 percent
  • Plush increased 1 percent
  • Puzzles increased 1 percent

In a year with fewer blockbuster films, licensed toy sales grew 8 percent and accounted for 34 percent of the total toy market. These positive results highlight both the continued appeal of new and evergreen, or sometimes nostalgia-based franchises, as well as sports-driven merchandise in driving sales. Pokémon remained the top-selling toy property globally, followed by Barbie, Marvel Universe, Hot Wheels, and Star Wars. LEGO Botanicals emerged as the top gaining property.

Sales of collectible toys grew nearly 5 percent to represent 18 percent of overall volumes and 15 percent of value sales. On-trend small collectibles figures, trading card games, and plush toys fueled sales year-round.

“This year we expect the global toy market to be positively impacted by the box office and popular series on streaming platforms, continuing to fuel young and mature consumer appetites for toys and collectible merchandise,” said Frédérique Tutt, global toys industry advisor at Circana. “These factors should help make up for the declining birth rates across most regions and economic uncertainty impacting consumers’ spending mindset.”

*Source: Circana, LLC, Checkout Sales Tracking, Toys, Dollars Adjusted, January – December 2024