Toys and Games in the Philippines
Growth rates increase as disposable incomes rise
Video games drives growth in 2024, thanks to the continued rise in popularity of mobile games
Growth also seen for traditional toys and games along with the rise of collectibles
Chart 3 Pop Mart Hirono x Le Petit Prince Collaboration
Core brands move towards sustainability, with Barbie using ocean plastic and Lego sugarcane
Chart 4 Mattel is Committed to Sustainability
Rising incomes to fuel growth in toys and games
Cloud gaming and subscriptions set to drive growth in video games
Collectibles anticipated to maintain a rising trend in traditional toys and games
Kidult trend set to fuel demand for toys and games, and companies will adapt
Strategic partnerships set to remain important
Chart 5 Lego and Pokémon Collaborate to Engage Fans
Fragmented landscape sees Mattel maintain its lead with Barbie
Roblox sees another year of share growth as it appeals to younger consumers
Aphmau MeeMeows plushes gain popularity with fans and collectors
Lego set to expand franchises with Pokémon, and potential for others to follow
Retail e-commerce dominates due to its strength in video games software
Lazada and Shopee set to drive sales of toys and games via retail e-commerce
Offline stores continue to account for a notable share of sales
Chart 6 Real GDP Growth and Inflation 2019-2029
Chart 7 PEST Analysis in the Philippines 2024
Chart 8 Key Insights on Consumers in the Philippines 2024
Chart 9 Consumer Landscape in the Philippines 2024
Summary 1 Research Sources
Traditional Toys and Games in the Philippines
Rising incomes, nostalgia, and collectibles contribute to growth
Rising incomes propel value sales of traditional toys and games
Rising interest in creative play drives growth for construction
Kidults drive demand for nostalgic and culturally relevant products
Hirono and Pop Mart collaborations drive growth for collectibles
Chart 12 Pop Mart Hirono x Le Petit Prince Collaboration
Dolls and accessories set to continue to lead traditional toys and games
Kidult consumer group set to grow due to nostalgia, licensing, and investment potential
Partnerships, and focusing on core brands likely to be key growth drivers
A shift to more eco-friendly options expected moving forward
Attempts to counteract the impact of seasonality in plush toys
Mattel extends its lead as its brands are popular for gifting
Aphmau and Keeppley drive greater fragmentation with niche branding
Lego and Pokémon join forces to expand their market reach
Labubu from Pop Mart leverages endorsements and scarcity, boosting its sales
Chart 13 Labubu Monsters Propels Pop Mart Forward
Traditional toys and games stores maintains its dominance as toy shopping is recreational
Shopee and Lazada are increasingly popular for purchases of toys due to convenience and digital payments
Chart 14 Shopee and Lazada are Significant for Purchases of Traditional Toys and Games
Growth in sales via retail e-commerce expected as consumers and companies adapt online
Video Games in the Philippines
Growth in video games is driven by developments in software
Video games software drives growth through subscriptions and localised content
Mobile games remains the driving force for sales in video games
Partnerships drive games development, boosting exports and B2B meetings
Chart 17 GameDev Philippines Summit 2024 Fosters Collaboration
Video games software set to lead sales and growth as incomes rise
Subscriptions, cloud gaming, and AI set to reshape video games
Transition to digital sales due to competitive prices and wide product range
New launches set to impact video games hardware
Opportunities may arise from government initiatives
Fragmentation is high and increasing in video games
Roblox sees another year of share growth as it appeals to younger consumers
Nintendo Switch 2 and Pokémon Legends: Z-A due for release
Chart 18 The Nintendo Switch 2 is Due for Release in 2025
Shift to retail e-commerce continues in 2024, and this trend is expected to be maintained
Offline sales of pre-paid cards maintain a high share of sales through other non-grocery retailers
Globe bundles gaming perks, enabling access to cloud gaming for households
Chart 19 Razor Gold Gaming Credits Incorporated within its GFiber Post-Paid Plans