Key Companies Covered in Board Games Market are Hasbro Inc. (U.S.), Mattel Inc. (U.S.), Buffalo Games LLC (U.S.), Goliath Games (Netherlands), Masters Traditional Games (U.K.), Ravensburger AG (Germany), Gibson Games (U.K.), Rebellion Developments Ltd. (U.K.), CMON Games (Singapore), Asmodee (France).
Board Games Market
Board Games Market
Pune, India , Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global board games market size was valued at USD 11.88 billion in 2022 and is expected to be worth USD 13.06 billion in 2023. The market is projected to reach USD 26.04 billion by 2030, recording a CAGR of 10.36% during the forecast period.
The demand for recreational activities has increased tremendously in recent years as people are looking for innovative sources of entertainment. Board games, in particular, have started receiving renewed interest from customers as these games are known to enhance brain power and self-confidence. Many market participants are trying to add value to their products by introducing multiplayer games or themes that need complex strategies to win. This not only helps more people to come together and socialize but also improves their interpersonal skills. These benefits are expected to boost the board games market growth.
Fortune Business Insights™ displays this information in a report titled, "Board Games Market, 2023-2030."
Demand for Monopoly to Rise Due to Growing Preference for Multiplayer Money-Themed Games
By game type, the market is divided into Monopoly, Scrabble, Chess, and others. The monopoly segment accounted for the biggest board games market share as more customers are looking for multiplayer money-themed games. Such games can also help them improve their socialization skills, further spurring their demand.
Rise in Viewing of Popular TV Series and Movies to Improve Product Demand among Customers Aged Above 25 Years
By age group, the market is segmented into 2-5 years, between 5 and 12 years, 12-25 years, and above 25 years. The above 25 years segment captured a dominant market share as the popularity of streaming platforms has motivated adults in this age group to watch popular TV series and movies. It has given the market players new avenues to boost their growth by introducing tabletop games based on these movies and series, further accelerating the segment’s growth.
Increasing Product Availability to Boost Customers’ Preference for Specialty Stores
By sales channel, the market is bifurcated into specialty stores, online stores, hypermarkets & supermarkets, and others. The specialty stores segment held a significant market share as these stores have a vast variety of tabletop games, giving customers more options to choose from.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report carries out an in-depth study of the industry and highlights key areas such as leading game types and prominent manufacturers. It also provides key insights into the most recent market trends and covers top industry developments. Besides the abovementioned factors, the report encompasses several aspects contributing to the market's growth.
Competitive Landscape:
Market Players to Boost Social Media Presence to Attract New Customers
This market has a vast presence of companies that are engaged in the production of engaging and complex board games. They are realizing the potential of social media to influence a person’s purchasing patterns and trying to expand their presence on these platforms. This move will help them boost the popularity of tabletop games among the younger generation and create a wider customer base.
Increasing Preference for Theme-based Games to Fuel Market Progress
The concept of theme-based board games, wherein a game is based on a particular movie, concept, or series, has gained tremendous popularity among young gaming enthusiasts. This is attributed to the fact that such games are quite complex and engaging and often require detailed strategies to win, which can greatly enhance a player’s experience. Many companies have realized the potential of such gaming concepts and unveiled various tabletop games inspired by famous concepts or movies. These developments will help the market grow.
However, rising availability of digital and mobile gaming platforms can hamper the market’s growth.
Regional Insights:
North America Market to Grow with Increasing Number of Tabletop Game Conventions
North America captured a dominant share of the global market as the region is taking various initiatives to spike the number of board game conventions to attract more gaming enthusiasts. North America is also known to have several reputed game developers, which will further propel the regional market’s growth.
Asia Pacific is also anticipated to record steady growth as the awareness regarding board games is rising across the region due to the growing network of board game bars and cafes.
COVID-19 Impact
Government-Enforced Movement & Travel Restrictions Augmented Product Demand
The COVID-19 outbreak had a devastating impact on the operations and revenue margins of several end-use industries as governments had imposed several movement and travel restrictions. However, this factor had a positive effect on the gaming industry as more people either turned to online gaming platforms or purchased tabletop games to keep themselves entertained. This aspect boosted the market growth during this period.
Recent Key Industry Developments – Mergers & Acquisitions, Partnerships, & New Product Launches
Qualitative Analysis (In Relation to COVID-19)
Impact of COVID-19
Supply Chain Challenges due to COVID-19
Potential Opportunities due to COVID-19
Global Board Games Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Analysis, Insights and Forecast – By Game Type
Monopoly
Scrabble
Chess
Others
Market Analysis, Insights and Forecast – By Age Group
2-5 Years
Between 5 and 12 Years
12-25 Years
Above 25 Years
Market Analysis, Insights and Forecast – By Sales Channel
Specialty Stores
Online Stores
Hypermarkets & Supermarkets
Others
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
South America
Middle East & Africa
TOC Continued…!
Key Industry Developments:
January 2022 – Funko Games, a U.S.-based board game publisher, introduced ‘Haunted Mansion’, a new special edition board game, to celebrate Wait Disney World’s 50th anniversary.
Connected Toys Market Size, Share, and Growth Rate [2023-2030] | Report by Fortune Business Insights™
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
