Industry Background:
The building block is defined as the piece of wood or plastic in which separate parts combine to make that thing. Numerous benefit of building block such as enhances logical thinking capability, improves fine motor skills, spatial awareness, hand-eye coordination, and other benefits. Increasing usage of a building block in various application such as houses, languages, among others and rising awareness regarding the benefit of the building block in the transportation industry is likely to be a major driver for the global building block market over the forecast period.This growth is primarily driven by Rising Disposable Income along with Changing LifeStyle among Children and The Rising Number of Middle-Class Populations and Increasing Adoption of the Building block in Emerging Applications such as Entertainment and IQ Training.
Globally, a noticeable market trend is evident Top Players are Focusing on Product Enhancement and Increasing Investment in Research & Development regarding the launch of new product. Major Vendors, such as Haba (Germany), People (Japan), Melissa & Dough (United States), Enlighten (China), B.Toys (United States), Lego (Denmark), Banbao (China), Megaformera (South Korea) and Mega Bloks (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In 2015, the Mitoi Company has launched architectural building block toys, which has collections of colorful building blocks and designing toys for both babies and children. Hence, this launch will affect the increase in the product portfolio of the company.
Market Drivers
- Rising Disposable Income along with Changing LifeStyle among Children
- The Rising Number of Middle-Class Populations and Increasing Adoption of the Building block in Emerging Applications such as Entertainment and IQ Training
Market Trend
- Top Players are Focusing on Product Enhancement and Increasing Investment in Research & Development regarding the launch of new product
Restraints
- Issue related to Risk and Uncertainty in the Market in Future
Opportunities
Rising Purchasing Power of Developing Countries such as China and India and Increasing Number of Customer from Online Channel regarding Building Blocks Products
Challenges
Problem regarding the High Price of Building Blocks Products, Major Concern Related to Less Durable and Tend to Break Easily Of Some Products and Lack of Awareness Regarding Building Blocks Products especially in African Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Building Blocks Study Sheds Light on
The Building Blocks Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Building Blocks industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Building Blocks industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.