The local art toy sector offers growth potential based on the high purchasing power of “kidult” collectors and the creativity of Thai small toy manufacturers.
Auramon Supthaweethum, director-general of the Business Development Department, said the art toy business is poised for continued expansion in coming years because of increasing consumer demand, offering promise for Thai entrepreneurs.
In 2023, the segment generated total revenue of 19.7 billion baht and profit of 468 million baht.
Over the previous five years, the business recorded fluctuating growth, attributed to the impact of the pandemic.
The appeal of art toys is growing, attracting both collectors and a diverse group of artists and small toy manufacturers who see them as a form of art.
In Thailand, demand for art toys eventually surpassed supply, leading to a resale market where popular items are pre-ordered at inflated prices.
This trend inspired Thai artists to create art toys that reflect Thai culture.
The popularity of art toys over the past year is partially attributed to the emergence of blind boxes, which are affordably priced and marketed through both physical stores and vending machines.
A “blind box” refers to the way in which a collectible toy is packaged and presented, so the consumer does not know the identity of the toy until opening the box.
Blind boxes are generally issued in a series that includes a collection of figurines.
Among collectors and fans of these toys, the rarer figurines are known as “secret figures”.
Produced by artists, designers and illustrators, these toys are usually produced in limited editions, which can drive up the prices. They can be made from a variety of materials such as wood, steel, resin, plastic, vinyl or velvet.
The commercial value of the art toy industry is growing worldwide, driven by a consumer group known as “kidults” who have a high level of purchasing power.
Defined as teenagers and adults who buy games by themselves, this cohort has been steadily contributing to the art toy industry for years.
Consumers from this group have a great fondness for the cartoons, superhero figures, merchandise and other collectibles that remind them of their childhood.
Small businesses dominated the art toy market last year, generating revenue of 19.7 billion baht as investors from Hong Kong, China and Japan hired Thai artists.
Among 1,024 companies in total, small businesses made up 220 manufacturers and 804 vendors, accounting for 93.7% of the art toy industry.
The value of business registrations in the sector is 5.7 billion baht.
Thai artists have produced some popular characters, with one of the best known “Cry Baby”, which depicts a teary-eyed girl with short hair.
The character has become a sensation across Southeast Asia.
In 2023, the export of Thai toys (including art toys) amounted to 8.78 billion baht.
The top three export markets were the US, Japan and the UK.
In the first four months of 2024, exports of Thai toys grew by 51.4% year-on-year, with China the leading market, followed by the US and Japan.
