The British Toy & Hobby Association (BTHA) and Circana have released their annual industry insights for the toy market. The figures, shared at this year’s Toy Fair at Olympia London (21–23 January), reveal the pivotal role played in the sector by licensed toys.
Boosted by top toy blockbuster movies, sports and video games, Licensed Toys continued to play a key role in shaping market dynamics during 2024. They make up 35% of overall total market share, up by 3%, thanks to the likes of Lilo & Stitch, UEFA, Despicable Me/Minions, Bluey and Sonic.
Circana’s figures show Star Wars topped the Top Properties list followed by Pokémon and Marvel. Meanwhile, Lilo & Stitch led the Top Gaining Properties list followed by LEGO Botanicals and LEGO Icons.
Amanda Cioletti, vp content and strategy at Global Licensing Group, Informa Markets, said of the Circana data: “[The] new data points from Circana show, once again, just how important licensing is to the success of the UK toy industry. Licensed toys and games now represent over a third (35%) of the UK’s £3.4 billion toy market. This is a rise of 3% on last year despite overall toy sales experiencing a slight decline. The stats clearly show that, even when money is tight, parents continue to buy toys and put their children first. It’s at times like these that we hanker after certainty, comfort and familiarity, and that’s why toys and games featuring brands like Lilo and Stitch, Despicable Me, Sonic the Hedgehog and Bluey have been so popular over the last 12 months.”
The UK toy market remained resilient in the face of economic challenges in 2024, generating £3.4 billion in overall sales – bolstered by a surge of Christmas sales (up 51%) in the week leading up to Christmas.
While sales in 2024 may have been down by 3.7%, several toy categories in addition to Licensed Toys achieved growth in 2024, adding to the positive trajectory. The Building Sets Super Category was up by 6%, which resulted in it achieving the highest category share of the toy market last year, driven by The LEGO Group’s performance, while Vehicles and Soft Toys also outperformed the market. Vehicles have been on the rise in the last 12 months, including the popular Monster Jam from Spin Master Toys, which has outperformed total Vehicle growth.
The Squishmallows Plush 8” Assortment, which retails for £8.57, retained its position as the top-selling item in 2024 for the second year running. This highlights the enduring appeal of soft toys for UK consumers and emphasises the importance of accessible pricing within the toy market.
The latest figures also show that MrBeast Lab, Wicked, Unicorn Academy and Squish-a-longs were among the top new launches within the total market. Wicked was also highlighted as gaining new property traction, thanks to the widespread appeal and success of the recent hit movie.
Kerri Atherton, head of public affairs at the BTHA, added: “These latest figures have undoubtedly been shaped by the current unsettled economic landscape which is impacting people’s spending across a wide range of consumer goods, including toys. However, it is promising to see there are pockets of increased spend across the UK toy sector, which has been fueled by Building Sets and people’s continued interest in and love for The LEGO Group, Squishmallows and, of course, the boom in the Licensed Toys category.
“Casting our minds forward, we look forward to seeing what the next 12 months have in store as the established brands continue to reinforce their presence and new and emerging products enter the UK toy market. The toy industry is working hard to provide value for money on toys that excite and delight consumers throughout the year, as well as the bigger ticket items around birthdays and Christmas.”
Melissa Symonds, executive director, UK Toys, Circana, concluded: “The toy market continues to thrive on innovation, with 30% of its value last year coming from new products. This dynamic growth is fueled by the excitement of emerging brands, the nostalgic appeal of relaunches, and the ongoing reinvention of beloved, established lines.”
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