Author: Vikas Kumar
07 May 2022
The global Kids Activity Box market is expected to grow significantly by 2027 expanding at a CAGR of ~6% during the forecast period (2021-2027).
A rise in the number of working parents coupled with the increasing female participation in the total labor force across the globe is some of the key factors attributed to the growing demand for the kids’ activity box. Female employees and stressful work-life balance have led to less time spent with kids. In such a scenario, kids’ activity boxes help in the nurturing and growth of kids of different age groups. Moreover, with the boom in nuclear families where both parents venture out to work, there’s little or no time to engage children meaningfully at home. There was a total of 86,300 nuclear families in Iceland on 1 January 2021, an increase of 1,632 from the previous year. The number of families with children increased by 840 and the number of childless marriages and cohabitation increased by 713 while the number of people not in nuclear families increased by 401 from the previous year.
Screens and video games are exceptionally harmful to a child’s brain development. At the same time, the hands-on toys and games in the market either lack quality, are not educational or offer very poor engagement. This is exactly why a lot of parents are turning towards subscription activity boxes for kids. Activity boxes offer a plethora of educational activities — hands-on games, puzzles, experiments, and books for children to engage with.
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Also, a rise in internet penetration, adoption of smartphones, emerging active social media users, and growth in e-commerce are some of the factors that are creating awareness about the benefits of kids’ activity boxes. Thus, the market is uplifting. With internet users growing by an average of more than 1 million new users every day, it has been observed that the number of users is surging at an explosive rate of more than 11 new users per second globally. Mobile internet penetration, as well as mobile application use, also account for an ever-increasing share of online activities. 4.95 billion people around the world use the internet in January 2022, equivalent to 62.5% of the world’s total population. Internet users are currently growing at an annual rate of 4.0%, equating to an average of more than half a million new users each day.
A rise in the GDP per capita is a factor that is impacting the demand for Kids Activity Box across the globe owing to the growing demand for the products. A rise in GDP per capita signifies an increased standard of living. So, consumers in the developed and developing countries where per capita income is witnessing a rise can think of spending more on products that are helpful in child brain development such as kids activity boxes.
For a detailed analysis of the type in Kids Activity Box browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=19846
Based on the type, the market is fragmented into Theme Based and STEAM Based. The STEAM segment grabbed XX% market share in 2020 and captured USD XX Mn market in 2020. Only 20% of students meet STEM benchmarks, and this is even though careers in STEM topics are the most in-demand and also the highest-paying. The only way to activate interest in these subjects is by introducing STEM concepts from a young age.
Based on the product, the market is fragmented into Subscription and Non-Subscription. The non-subscription box segment captured XX% Market share in 2020. Moreover, the market segment would reach USD XX Mn by 2027. Increasing parental awareness about the advantage of activity boxes is expected to fuel the subscription kids activity box market.
For a detailed analysis of the Region in Kids Activity Box browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=19846
Additionally, the report provides detailed initiatives that are being taken in the field of Kids Activity Box. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and the Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. North America region grabbed XX% market and captured USD XX Mn market share in 2020. The emerging number of working parents, surging disposable income, and growing awareness about the benefits of activity box is leading to the growth of the market. In 2019, there were 76,852,000 women aged 16 and over in the labor force, representing close to half (47.0%) of the total labor force.
Global Kids Activity Box Market Segmentation
Market Insight, by Type
Market Insight, by Product
Market Insight, by Distribution Channel
Market Insight, by Region
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