The India STEM toys market is estimated to grow at a significant CAGR of 8.5% during the forecast period. India is estimated to be the fastest-growing market among the major economies across the geographies as it is home to the youngest population in the world. It was estimated that more than 26.2% of the population in India was under the age of 15 years in 2019; this gave a huge opportunity to the educational toy vendors. Further, in the coming years, the growth in the country is anticipated to get inclined towards hi-tech, scientific and educational toys. Also, factors such as high disposable income, growing income, rising middle-class population and urbanization are equally contributing towards the market growth. The market has also witnessed upgrades in trends where LEGO has replaced the traditional wooden construction set, and interactive electronic toys are replacing plush toys.

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The STEM toys market is segmented based on age group, category, and distribution channel. Based on the age group, the STEM toys market is segmented into 0-3 years, 3-8 years, 8-12 years, 12+ years. On the basis of category, the market is segmented into science, technology, engineering, and mathematics. On the basis of distribution channel, the market is fragmented into online and offline.

Moreover, the India STEM toys market is highly consolidated, with major vendors accounting for dominant shares. Key players in the India STEM toys market are expected to drive sales and margin growth in their business by expanding sales organization, securing additional contracts with commercial payors, maintaining technology leadership through R&D, and continuing to build clinical evidence to support the benefits of the products as well as services. Elenco Electronics, Inc.; Hasbro, Inc.; LEGO System A/S; Mattel; Melissa & Doug; Smartivity; and Spin Master are some of the major players operating in the Indian STEM toys market.

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The market study of the India STEM toys market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

India STEM Toys Market – Segmentation
by Age Group
0-3 Years
3-8 Years
8-12 Years
12+ Years
by Category
Science
Technology
Engineering
Mathematics
by Distribution Channel
Online
Offline

Company Profiles
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Saluda Medical Pty Ltd.

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