BANGKOK — Art Toys boost Thai toy industry to 20 billion baht ($54.3 million), predominantly small-sized businesses.
Director General of the Department of Business Development, Ministry of Commerce, Auramon Supthaveethum, revealed that the Art Toys trend, which involves collectable toys created as artworks by both international and Thai artists, is gaining popularity worldwide.
Despite fluctuating growth in the toy industry over the last five years (2019-2023) due to the negative effects of the COVID-19 pandemic, the toy business rapidly recovered once the situation stabilized.
It’s remarkable that small businesses constitute the largest group establishing toy businesses, with 1,024 companies. This demonstrates the potential and opportunities for SMEs in the toy industry, which remains open for small businesses to invest and compete in the market.
Of this number, 804 are selling companies, accounting for 93.7% of the total 1,093 toy businesses. There are 238 manufacturing companies, and 855 are selling companies.
The total registered funds amount to 5,692.21 million baht, divided into 2,909.61 million baht for manufacturing companies and 2,782.60 million baht for selling companies.
The Art Toy industry is considered a great opportunity for Thai business owners due to its fast growth, with a substantial revenue of 19,677.21 million baht in 2023. The toy industry has shown tremendous growth and delivered a profit of 467.62 million baht.
“This aligns with the current situation where we can see that the toy market is bustling with activity both in Thailand and abroad,” she said.
Auramon explained that this trend is driven by the emergence of a consumer group within the toy sector known as ‘Kidults,’ adults who enjoy collecting toys similar to their childhood interests. With strong purchasing power, this group fulfills their childhood desires by collecting art toys, especially limited editions as a future investment. Thailand is currently known as a quality contract manufacturing hub.
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