Global STEM Toys Market Insights Forecasts to 2033

• The Global STEM Toys Market Size was estimated at USD 5.41 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 8.87% from 2023 to 2033
• The Worldwide STEM Toys Market Size is Expected to Reach USD 12.66 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global STEM Toys Market Size is expected to cross USD 12.66 Billion by 2033, growing at a CAGR of 8.87% from 2023 to 2033. The growing emphasis on technological literacy and educational play is fueling the growth of the STEM toy sector.  

Market Overview 

The market for toys that teach STEM (science, technology, engineering, and mathematics) topics is referred to as the global STEM toys market. The purpose of STEM toys is to foster children's creativity, critical thinking, and problem-solving abilities. The separate but connected technical fields of science, technology, engineering, and mathematics are grouped under the general name "STEM." In general, the term is used for school curriculum decisions or education policy. The global market for STEM toys is expected to expand due to urbanization and the rise in educated parents who want to provide their kids with cutting-edge educational opportunities. Unconventional learning resources are predicted to become more and more in demand as the importance of high-quality education increases. The market has seen a substantial change, with a noticeable tendency toward goods that blend play and education. During the epidemic, families looked for interesting methods to help with education at home, which sparked interest in toys that encouraged mathematics, science, technology, and engineering skills. As a result of this tendency, toy producers are nowadays giving more importance to incorporating creativity and relevance to the actual world into their designs. A more comprehensive approach to child development is becoming increasingly important in the STEM toy market, as evidenced by the rise of STEAM toys, which have a creative element. Government initiative aids in the expansion of the STEM toys market, the Indian government offers many programs such as Atal Tinkering Labs (ATL) to promote experiential learning in STEM subjects, and schools have established the Atal Tinkering Labs. E-Scholarship and Financial Support like state-level funding and the PM Research Fellowship, to assist rural students who want to study STEM in higher school. Teacher Training Programs, the government has started offering online teacher training courses through platforms like SWAYAM and Diksha. Production Linked Incentive (PLI) Schemes, this program offers firms incentives to increase their level of competitiveness. All of these government initiatives help market growth.

Report Coverage

This research report categorizes the STEM toys market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the excavator bucket market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the STEM toys market.

Driving Factors

The industry is mostly driven by the rising demand for extracurricular educational opportunities. Parents actively look for toys that promote creativity, critical thinking, and problem-solving skills. Additionally, shops and subscription services are focusing more on the educational toy market and offering a variety of cutting-edge products that suit changing consumer tastes. Using cutting-edge technologies such as digital replicators, interactive experiences, and vibrant pictures to improve learning is one prominent trend. Additionally, integrating machine learning (ML) and artificial intelligence (AI) technology gives kids immediate feedback, making learning more efficient and interesting. Recreational product makers and STEM education providers have collaborated to create themed items that blend learning and pleasure. In addition to this development, producers of recreational products can reach new demographics and design goods that cater to particular hobbies and ability levels, which boosts market growth overall. The market is prepared for further innovation and cooperation between educators, toy designers, and merchants as the value of STEM education becomes more widely recognized.

Restraining Factors

The industry of STEM toys has to deal with issues including inconsistent labeling and the possibility of "STEM-washing," in which toys are falsely promoted as instructive. Since many STEM toys use cutting-edge materials and technology, they are more costly than traditional toys. Accessibility for lower-income households may be restricted by the higher price point. Gender stereotypes continue to be prevalent in toy design and marketing, despite efforts to produce inclusive STEM toys. This may deter kids, particularly girls, from playing with STEM toys, which would reduce the market.   

Market Segmentation

The STEM toys market share is classified into type, age group, and distribution channel.     

• The engineering segment held the largest share of 36.81% in 2023 and is estimated to grow at a CAGR of 7.14% throughout the projection period.

Based on the type, the global STEM toys market is categorized into science, technology, engineering, and mathematics. Among these, the engineering segment held the largest share of 36.81% in 2023 and is estimated to grow at a CAGR of 7.14% throughout the projection period. These well-liked toys encourage youngsters to solve problems, be creative, and learn by doing, which aids in the development of critical thinking abilities. Teaching STEM ideas through hands-on activities is very beneficial because it stimulates several senses and promotes problem-solving and discovery. Early exposure to fundamental engineering principles also stimulates interest in STEM-related occupations. They are essential to dispelling myths and promoting varied involvement in STEM subjects because they provide inclusive designs that are appealing to all genders. Moreover, engineering toys frequently encourage cooperation and teamwork since kids can cooperate to solve issues, construct structures, or accomplish tasks. In addition to teaching kids the value of cooperation and communication, this helps them develop social skills. The construction, assembly, and spatial reasoning exercises found in many engineering toys aid in the development of children's spatial abilities. Understanding ideas such as geometry, architecture, and mechanical engineering requires these abilities.

• The 8-12 years segment accounted for the largest market share of 43.12% in 2023 and is estimated to grow at a CAGR of 8.42% throughout the projection period.

Based on the age group, the global STEM toys market is classified into 0-3 years, 3-8 years, and 8-12 years. Among these, the 8-12 years segment accounted for the largest market share of 43.12% in 2023 and is estimated to grow at a CAGR of 8.42% throughout the projection period. These children are more receptive to STEM toys because they are becoming more inquisitive and willing to explore certain hobbies such as science, engineering, and programming. They are more equipped to handle challenging activities and ideas at this age, such as coding, creating robots, and doing science kit experiments. By encouraging the development of technical, critical thinking, and problem-solving abilities, STEM toys keep kids interested and motivated to learn outside of the classroom. Additionally, the availability of increasingly sophisticated toys and the chance to participate in nearby STEM communities feed their enthusiasm for the subject.  

• The offline segment dominated the global STEM toys market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the distribution channel, the global STEM toys market is divided into online and offline. Among these, the offline segment dominated the global STEM toys market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The offline channel involved supermarkets and hypermarkets, specialty stores, convenience stores, and others. Since these channels are convenient and offer a wide range of products, STEM toy sales have surged. Families who might not have planned to purchase toys but make impulsive purchases during their frequent shopping excursions are drawn to these stores because toys and STEM-focused products are easily accessible alongside conventional food. Adding well-known properties like Marvel and Star Wars to STEAM toys increases their appeal to both adult and child collectors and increases the number of visitors. The product diversity and ease of use make shopping a pleasure, which increases the sales of STEM toys in various retail settings.

Regional Segment Analysis of the STEM Toys Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the STEM toys market over the predicted timeframe.

North America is anticipated to hold the largest share of the STEM toys market over the predicted timeframe. The market for STEM toys in North America is increasing as more people realize the significance of experiential learning for fostering scientific, technological, engineering, and mathematical skills. Toys that foster creativity, critical thinking, and problem-solving skills are becoming more and more sought after by parents and educators. The growing selection of STEM toys, like KiwiCo's and solar-powered robots, allows kids to explore a variety of interests and appeals to a broad age range. Additionally, the popularity of STEM toys in the area has grown as a result of the surge in screen-free activities. The economies of North America, and especially the United States, are strong and have significant levels of disposable income. This enables parents to spend more money on activities and items that teach their kids. North America is home to a large number of leading toy businesses, including those that specialize in STEM toys. These businesses are well-established in the area and make RandD investments to produce cutting-edge STEM toys that gain over consumers. Furthermore, North American governments and educational establishments frequently back programs that advance STEM education. This covers projects to promote the creation and uptake of STEM products as well as financing for STEM education in schools.

Asia Pacific is expected to grow at the fastest CAGR growth of the STEM toys market during the forecast period. The presence of a sizable client base propels the regional industry, with China and India leading the Asia Pacific market's expansion. China is the Asia Pacific region's largest market for STEM toys because of the country's increasing manufacturing and use of educational toys. Urbanization and rising disposable income constitute other significant trends that are expected to support the expansion of the STEM toy industry in this area. Significant advancements in the toy industry have been observed in the Asia Pacific market throughout the years. The growing popularity of the e-commerce sales channel combined with strong government support for the toy manufacturing industry is driving higher demand for the product.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the STEM toys market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.   

List of Key Companies

• LEGO Group
• Mattel, Inc.
• Ravensburger
• Spin Master
• Sphero
• VTech
• Thames and Kosmos
• Osmo
• Hasbro
• Melissa and Doug
• BanBao
• TAKARA TOMY
• K’NEX
• Goldlok Toys
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In October 2024, Wondery announced the debut of its first-ever collection of toys and consumer goods, which were influenced by the Wow in the World children's science podcast. STEM kits, dinosaur play, and audio-play figurines are all part of the Wondery Kids and Wow in the World toy line, which reimagines traditional toys with entertaining audio from the podcast hosts. For children and their adults, the toys, which were offered on Amazon and a few specialty stores, offered a unique combination of entertainment and experiential learning.

• In July 2024, Plus Science and Healthy Kid Play announced a partnership, to develop new STEM toys that encourage collaboration and teamwork among children.

• In May 2024, Star Wars Slime Jars and Lightsaber-Themed Engineering Kits are among the new STEM activities with a Star Wars theme that Horizon Group USA has introduced. These kits, designed for children six years and up, included interactive learning opportunities like growing cyber crystals and making lightsabers out of LEDs and circuitry. The series was created to enhance STEM education for Star Wars enthusiasts by fusing instructional material with sensory play.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the STEM toys market based on the below-mentioned segments: 

Global STEM Toys Market, By Type

• Science
• Technology
• Engineering
• Mathematics

Global STEM Toys Market, By Age Group

• 0-3 Years
• 3-8 Years
• 8-12 Years

Global STEM Toys Market, By Distribution Channel

• Online
• Offline

Global STEM Toys Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East and Africa