Why is this important
The toy sector reflects the state of consumer demand, income levels, and the development of light industry. For Uzbekistan, this is a niche where import substitution and export growth can be achieved with the support of local production.
What’s happening in the world
- According to the International Toy Association, sales reached $111.8 billion in 2024 (+3% compared to 2023).
- Average annual market growth over 5 years is 4%.
- According to IMARC forecasts, the market will grow to $196.3 billion by 2033 with an average annual rate of 6.2%.
- Statista expects the turnover to reach $132.8 billion by 2025.
- After the pandemic, growth slowed down: +6% in 2020, +10.5% in 2021, +1.7% in 2022, then a decline of 2% in 2023.
- Asia generates 23% of global revenue. According to Euromonitor, South-East Asia is the fastest-growing segment (+5.4% per year).
What’s happening in Uzbekistan
- There are 65 toy manufacturers operating in the country, with a combined output of 41 billion soums ($32.8 million) in 2023.
- Domestic demand is about $62 million, of which 57% is covered by imports.
- The main production is simple plastic, wooden, and soft toys.
- The average price of popular toys is from 3.5 thousand to 50 thousand soums.
- Exports in 2024 amounted to $6.3 million, falling by 24.4%.
- Main directions: Kazakhstan (38%), Russia (31%), Kyrgyzstan (20%), Azerbaijan (5%).
What they say
According to the Center for Economic Research and Reforms (CERR), “the Uzbek toy industry maintains growth potential, but requires investment in design, technology, and product certification according to international standards”.
Context
There is a growing demand for “smart” and environmentally friendly toys in the world. Uzbekistan can develop a niche of local brands and educational packages using AR/VR. The industry is also connected with the digital economy and creative industries.
