The Canadian Toy Industry is worth US $1.8 billion (at retail prices) according to the Canadian Toy Association. Its members are manufacturers, importers, retailers, and distributors of toys, games, seasonal and hobby products. This report analyzes the Toy and Game Industry and highlights the opportunities within it. It contains data on market size, market trends, U.S.–Canada import/export statistics, best prospects, market demand, market entry, export opportunities, trade shows, and other important industry contacts. It also analyzes the safety of a product and where it comes from and discusses labeling and packaging requirements.
NAICS 33993 is defined by Industry Canada as the industry code for businesses that manufacture dolls, toys and games. This includes establishments primarily engaged in manufacturing toys designed for use in households and institutions, such as elementary or pre-schools, day care centers, hospitals, public parks, and recreation centers. The Toys and Games Industry comprises a number of sub-sectors such as: baby carriages, strollers, handicraft supplies, dolls (including parts and accessories), model kits, electronic toys and games, stuffed toys, and children’s vehicles.
The shelf life of toys is drastically shrinking, challenging manufacturers to continuously create innovative products that capture children’s interest quicker and earlier. Manufacturers have to balance between high-demand items for kids and more engaging and educational products desired by parents for their children.
Demand for time-honored favorites still exists, but the market for hi-tech toys is growing at an immeasurable pace. Toy companies are seeing the benefit of offering children a dual experience with their toys as the Internet continues to become a big part of life. Many toys now have online clubs or websites, which allow the children to have interactive experiences using secret codes to purchase clothes or accessories for dolls with virtual money, or even to create their own gaming levels.
A spate of recent recalls has diverted consumers’ attention from cheaper, mass-produced foreign toys to toy companies that comply with high safety and quality standards. This presents U.S manufacturers with more opportunities to surpass their Chinese competitors in the Canadian Toys and Games Industry.
By Elizene Osores