The toy industry in India has a potential for growth as far as technology and application is concerned. Plush, handcrafted, and innovative electronic toys as a result of toy manufacturing have found a presence in the global markets as well. Due to the emergence of increased purchasing power of middle-class Indians, new consumer behaviour has arisen along with economic growth. The increasing demand for toys and a robust economy has given a huge specification of the toy manufacturing industry in India.
Did you know? There are about 8,366 registered Micro, Small & Medium Enterprises (MSME) toy manufacturing companies in India.
The Various Aspects of Toy Manufacturing
The manufacturing of electronic and remote-control toys requires technical know-how on precision tooling.
Almost 20% to 40% labour cost is a portion of the total cost significant in a toy factory in India.
India is the second-largest country in the production of polyester and related fibres required to make toys.
Due to a higher rate of growth of productivity as compared to a few South Asian countries, it clicks with artisans and craftsmen in Indian toy companies.
Traditional toys are a reflection of culture and significant in the labour-oriented industry that displays beliefs and traditions existing in communities.
Challenges Faced By the Toy Manufacturers in India
The toy industry has been confronted with a host of challenges which has made a mark in the unorganized sector.
- Global supply chain breakdown is turning toy shortage into a reality revealing the picture of toy manufacturers in India.
- A global supply chain breakdown has had a huge impact on the toy factory in India.
- India’s toy industry, valued at ₹. 4,000 crore is actually dominated by Chinese imports which account for almost 85 percent of the toy availability
- India’s toy industry lacks a feasible ecosystem to boost the production of toys on a larger scale
- The Indian toy manufacturers lack the required resources to innovate and compete with their Chinese counterparts. They are unable to compete in terms of both design and pricing.
- The toy industry in India faces an acute shortage of economic raw materials, skilled manpower as well as resources for research and innovation
- Non-availability of easy finance is one of the biggest challenges which make the Indian toy manufacturing companies lag behind their global competitors, especially China. As a result, the toy manufacturing companies in India are unable to produce toys with global safety standards
The Changing Trends of the Toy Industry in India
In recent years, the toy industry in India has witnessed steady growth. Industry reports have affirmed that the growth and total revenues of the leading toy companies in India have grown substantially. The sales of toys have increased by a large margin on a national and global platform. An increasing young population and an increase in personal incomes are some of the contributing factors towards the increase in demand for innovative toys and games.
Given below are some of the key contributing factors responsible for a turnaround of the Indian toy industry:
- An increase in the age group of 2-8 years
- Consistent urbanisation has helped boost the revenues of this industry
- Leading toy brands employ skilled personnel to compete with their Chinese counterparts.
- The Central government is extending immense support to this industry. Some of the reputed Indian toy companies have established new manufacturing facilities in industrial zones. This is primarily to expand their production and cater to the growing demand from across the world.
- Toy companies in India are resorting to various innovative promotional activities. Their offline and online advertising initiatives have proved to be effective in boosting sales and revenues in the country and the rest of the world.
- Interestingly, Europe and North America are the leading importers of Indian toys which are becoming increasingly popular for their innovation, variety, pricing and quality.
The growing demand for versatile toys have further boosted the confidence and brought about incremental revenues of this industry in India.
Some of the Leading Toys Brands in India are
- Clever cubes
- The Story merchants
- Varnam Craft Collection
- Win Magic Toys
- The Maison Company India
- Afterskool Toys
- Zephyr Toymakers
- Aditi Toys
- Peacock toys
- Sunny Toyz
Toy Manufacturers in India Reputed for Manufacturing Distinct Varieties of Toys
A number of toy manufacturers produce toys and board games that impact children in many positive ways. Some of these are:
1. Masoom Playmates
Masoom Playmates was founded in 1942. Their first offering was a tin car with wheels. More units of the car were produced by the brand and they flourished and sold them off at festivals. During the 80s, the brand re-emerged with the production of Betty, a 6” doll. The innovative toys have increased the goodwill and popularity of this brand. Its production capacity has grown phenomenally. The dolls and toys of the brand make children more imaginative and they start connecting in various ways with the toys as their confidants.
2. Tripple Ess Toys
Value for the money high-quality safety toys have been produced by the brand for the last 25 years. Tripple Ess Toys, a toy company in India, manufactures miniatures with an innovative design lending out experimental learning to kids. It is an established brand with a 40,000 sq. ft. production area equipped with the right tools for the production of child-safe toys. Promotional and educational toys are another speciality designed for organizations and retail stores. Plastic components are another field of expertise of the brand for the automobile industry.
3. Khanna Toys
The reputed brand implements high-quality materials and ultra-modern machines to make standard toys for the new-age kids, known as Gen Z. Their field of specialization lies in the push and go toys, ride toys, kitchen toys and much more. It was established in 2008 and produces well-made distinguishable toys for children. Miniatures of different sizes and colours are manufactured as per the requirements of clients. Features of their products are durability, easy usage, lightweight and crack resistance.
4. Aditi Toys
The brand provides the requirements to the domestic as well as international clients as per their needs. They are known for their product ideas that are unique in nature and different from their competition. The brand is one of the listed toy companies in India that brings out the finest quality within a specified time frame. Parents can go for such products for their kids as it is a certified toy company that manufactures hygienic miniatures.
5. Fun Zoo Toys
Besides the production of toys, family-based manufacturers specialize in exports. In the year 1979, Fun Zoo Toys took shape and began making toys and rebranded it in 1992 and 2009. The creative toys made by the brand are non-toxic and non-hazardous and meet international standards. The presence of the company is in a pollution-free area. The products with a fine design are appealing to children who belong to all ages.
6. Acctu Toys
After proper market research and survey, the brand started producing soft toys in 2005 and was founded in 2002. A certified brand that comes with products for kids who can improve their creativity. They have a reputation in exporting and manufacturing stuffed, soft as well as plush toys.
7. Fun Skool India
A leading toy brand in the country which is reputed for its quality and child-safe products. The pioneers in the toy manufacturing industry have large manufacturing facilities of 50,000 sq. ft. and 80,000 sq. ft. This is one of the leading companies with the largest production area in India. Global brands such as Tomy, Walt Disney, Dora, Ravensburger, and Engino get their toys manufactured by Fun Skool in India.
ToyZone started operations in 2002 with a manufacturing unit and started trading to different regions of India. The brand is known for its usage of the latest plant and machinery and state-of-the-art R&D as well as Tool-Room facilities.
9. Centy Toys
The vision behind the brand is to develop toys at a reasonable price for kids as well as model collectors. Centy Toys started in 1990 and engaged in the manufacturing of automobile miniature models. They are the first to come out with the idea of manufacturing the ‘Scale Model’ variants of Indian Vehicles.
The brand has delivered high-quality DIY toys which help kids discover their potential in various skills. These types of toys make for a fun and enjoyable experience for kids. Jumboo is one of the leading toy manufacturing companies in India that imparts a delightful experience for a child to enhance his creativity.
The changing scenario and increasing demand for Indian toys have given a big boost to Indian toy manufacturers. We are sure you have gathered immense information on the creative innovations of young entrepreneurs who have resorted to creativity and intelligent manufacturing of toys. Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.