Toy story: History & STEM learning games now

Chennai: India’s $1.72 billion toy market is witnessing an increase in consumer interest in niche products like cultural and heritage products as well as toys that plug into the desi parent’s obsession with science and maths. With the market poised to grow in double digits over the next six years, toy makers say niche products are the way to go.Deepak Chaudhary, founder of Urban Tots, “The Indian toy industry is witnessing new trends, including the incorporation of Indian folklore, mythology, and history into toy designs to evoke nostalgia and foster cultural awareness among children.” Alongside that is the trend of educational toys which are “aligned with the Indian curriculum, promoting STEM learning and nurturing cognitive, problem-solving, and critical thinking skills.”That twin focus is important given the growth trajectory the industry is in. Karandeep Singh, chief business officer, Toys “R” Us said, “According to Invest India, the Indian toy industry is among the fastest-growing globally, projected to reach $3 billion by 2028, growing at a CAGR of 12% between 2022-28. Mythological and historical toys, he added, are “more commonly seen during festive seasons when cultural affinity is at its peak”.Toy makers say the interest in Indian traditional/heritage/cultural toys alongside more “learning” toys is driven by multiple factors. Philip Royappan, GM marketing, Funskool India, which has introduced popular history/heritage products like fable-based and historical puzzle sets like Vikram & Vetal, Rani Jhansi, Ashoka or Tenali Raman as well as licenced Chota Bheem products, said, “Novelty is the key in the toy market and a combination of cultural toys with educational toys works quite well.” The Chennai-based company has also introduced traditional products like Kho Kho, Kabaddi, Gili Danda and Mancala in its range.Toy marketers say while the niche segments are not very big, the Indian toy market itself is still just around 0.6% of the world market. What’s driving the niche trend though is organized retail in metros and Tier 1 cities – “channels which offer wider product selections and convenience, which along with the government’s Make in India campaign has enabled a shift towards locally manufactured toys,” said Chaudhary. What has also helped are online sales and exports. Funskool, for instance, now gets around 25% of its sales from e-commerce platforms and has a “very significant export” business apart from the OEM work it does for global companies. “We export to markets like the Middle East and North Africa among others,” added Royappan. For India’s toy buyers, innovative categories are a winner. Singh said,“Science, Technology, Engineering, Arts and Maths toys, kids’ DIY fashion, and kidult (adults who like to purchase kids’ products) stuff are gaining popularity as these categories offer a unique, engaging experience for children and adults alike.”