Market Insights & Analysis: Global Games and Puzzles Market (2023-28)
The Global Games and Puzzles Market size was valued at USD 21.12 billion in 2022 and is projected to grow at a CAGR of around 5.22% during the forecast period, i.e., 2023-28. The increasing popularity of indoor entertainment options, coupled with the expansion of digital platforms & mobile gaming, has significantly contributed to the market growth for games and puzzles in recent years. In addition, the growing consumer preference for social & interactive experiences has also surged the demand for multiplayer & party games.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 5.22% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Egypt, Rest of MEA | |
| Key Companies Profiled | Buffalo Games, Hasbro, Inc., Mattel, Inc, Ceaco, Inc., Ravensburger AG, Schmidt Spiele, Cubicfun 3D Puzzle, Educa Borras, and Castorland., Others |
| Market Value (2022) | USD 21.12 billion |
The growing interest in classic board games, sparked by a fondness for the past and a preference for activities without screens, has significantly boosted the market's growth, reflecting a shift in culture towards enjoying activities that don't involve electronic devices.
The rise of e-sports and competitive gaming has not only propelled video game sales but also fostered a community-driven atmosphere, driving engagement & purchases. Moreover, the games and puzzles industry has witnessed innovative collaborations, such as the integration of augmented reality & virtual reality technologies into gaming experiences, which have garnered considerable attention, bolstering the market growth.
Global Games and Puzzles Market Driver
Mounting Demand for Educational Games and Puzzles - As more children enter the education system, there is a growing recognition of the importance of holistic development & cognitive enhancement during their formative years. Games & puzzles have established themselves as valuable tools that foster entertainment and facilitate learning & skill-building. Educators & parents acknowledge the potential of these engaging activities to promote critical thinking & problem-solving. This increased demand for educational & intellectually stimulating resources has led to game design and educational content innovation, contributing notably to the game and puzzle market expansion.
Global Games and Puzzles Market (2023-28): Segmentation Analysis
The Global Games and Puzzles Market study from MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:
Based on Type
Of both, Games are anticipated to garner maximum traction in the Global Games and Puzzles Market during 2023-28 due to their captivating themes & intricate designs that offer users a heightened & immersive experience compared to puzzles. The market's evolution has led to an unprecedented surge in board game varieties, granting players an extensive array of choices to engage with. This surge has expanded the horizons of board gaming enthusiasts and attracted numerous newcomers. One notable trend within board games is the emergence of cooperative gameplay, fostering connections among friends & family while simultaneously reducing screen time and enhancing well-being. Meanwhile, the trading card games segment is rapidly establishing its presence within the games and puzzles industry, traditionally dominated by sports cards for over a century. Driven by the nostalgic inclinations of Generation Z and Millennials, fantasy characters are now rivaling traditional star athletes, reshaping the Global Games and Puzzles Market landscape.
Based on Licensing
Here, non-licensed games and puzzles hold a prominent market share as they have a broader appeal due to their lack of tethering to a particular brand or franchise. These products grant creators the freedom to exercise their creativity & originality during the design & development phases, offering a more diverse array of products & themes and catering to a wide range of interests. This intrinsic versatility is a key advantage for non-licensed games & puzzles, wherein manufacturers can explore various themes, styles, and concepts without being restrained by established brands.
On the other hand, licensed games & puzzles hold a noteworthy market share as they have a unique advantage in terms of personalization & gifting. These products can be transformed into captivating & meaningful gifts by featuring characters that hold sentimental value to the recipient. This personalized touch adds an extra layer of charm to the products, making them stand out in the market. Licensed games & puzzles are designed to tap into the existing fan base of beloved movies, TV shows, or other media properties. The inclusion of iconic characters, such as Disney's Frozen, Baby Yoda, Spiderman, Pinkfong's Baby Shark, and Friends, has led to a surge in the popularity of licensed games & puzzles, backed by people's emotional connection with these characters and the appeal of owning merchandise related to their favorite franchises, thereby contributing to market growth.
Global Games and Puzzles Market (2023-28) Regional Projection:
Geographically, the Global Games and Puzzles Market expands across:
Of all regions globally, North America is anticipated to maintain a dominant position in the Games and Puzzles Market during 2023-28. It owes to the increasing popularity of theme parks driving interest in the product for gaming & rewards. Moreover, the puzzle trend in this region, exemplified by events like the North America Jigsaw Puzzle Championship and the US Puzzle & Sudoku Championships, is playing a motivational role in boosting interest in puzzle games, creating growth prospects for the North America Games and Puzzles Market.
On the other hand, the Asia-Pacific region is poised to exert a noteworthy influence on the games and puzzles market in the coming years due to a gradual reduction in youth unemployment rates, resulting in increased spending on entertainment products. Additionally, local brands in the region, such as Awals Creations India, Plaza Japan, Brothers Box Factory China, etc., offering reasonably priced products to local consumers, are other prominent aspects positively contributing to regional market growth.
Global Games and Puzzles Industry Recent Developments:
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Frequently Asked Questions
A. The Games and Puzzles Market is projected to grow at a CAGR of around 5.22% during 2023-28.
A. The Games and Puzzles Market size was valued at USD 21.12 billion in 2022.
A. The surging demand for educational games and puzzles is likely to drive the Games and Puzzles Market through 2028.
A. During 2023-28, the Games and Puzzles Market share is projected to be held mainly by Games.
A. The Games and Puzzles Market leaders include Buffalo Games, Hasbro, Inc., Mattel, Inc, Ceaco, Inc., Ravensburger AG, Schmidt Spiele, Cubicfun 3D Puzzle, Educa Borras, and Castorland.
A. Globally, North America would provide lucrative prospects for the Games and Puzzles Market in the years ahead.
Global Games and Puzzles Market Research Report (2023-2028) - Table of Contents
