Board Games Market - Global Outlook and Forecast 2019-2024: Key Vendors are Asmodee Editions, Hasbro, Mattel, Ravensburger - ResearchAndMarkets.com

The "Board Games Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The board games market is expected to grow at a CAGR of over 10% during the period 2018-2024.

Board games are considered as one of the best ways to leave aside electronic gadgets and devices, which are otherwise keeping modern-day families busy, and get them together over an interesting game. Despite rapid technological advancements, several families consider connecting and bonding over a board game. Hence, more people prefer to shun digital activities and opt for a better and meaningful experience. Therefore, the need to engage with family and near and dear ones is expected to drive the demand for board games.

The rising popularity of board game conventions is boosting the board games market. Board game conventions are the new area for vendors catering to the global board games market. There are several board game conventions organized across the world with a wide range of participation (from both active players and game publishers).

Another factor driving the global board games market is the rise in the number of board game cafes across the world. With a rise in the board game caf culture, people are witnessing many game shops and cafes offering snacks and drinks in various gaming events. With the advent of such cafes, people tend to find their board game solace quite comprehensively.

The following factors are likely to contribute to the growth of the global board games market during the forecast period:

• Capitalizing on Board Game Conventions
• Introduction of Strategic Products
• Crowdfunding Boosters paving Growth Paths
• Incorporation of the Learning Quotient
• Leveraging Global Retail Trends

Board Games Market: Segmentation

The research report includes detailed market segmentation by product, theme, distribution, and geography. While puzzles dominate the board games market globally, collectible games are more prevalent in North America than Europe and APAC. Card and dice games are expected to increase their market share during the forecast period due to the growing shift of these games toward digital formats along with higher accessibility to playing video games in the same format across regions.

The market has been witnessing a spurt in demand for several tabletop board games. While pre-schools kids are more interested in chance-based tabletop games, strategy-based tabletop games are seeing higher demand among grade-schoolers, teenagers, and adults. The need to increase problem-solving attitude and critical thinking ability among gamers is the major driver for the development of strategic tabletop board games. The collectible card games are growing at a steady rate in the market despite their decreasing popularity.

The educational board games segment is expected to witness an incremental growth of over $4 billion by 2024. Further, vendors are increasingly focusing on developing board games that have the learning quotient. The high popularity of strategy and war games is a major factor for the high share in the global market. The relevance of indulging is extremely high in strategy & war games, and in countries such as South Korea, Germany, Japan, and China, they are highly appreciated.

Board games are sold online as well as retail distribution channels such as specialty stores, supermarkets and hypermarkets, mass-market players. The availability of variety and instant price comparison is the major reason for the rapid spurt in online sales. The sale through retail stores has always remained high.

Market Dynamics

Market Growth Enablers

• Urge to Connect over Analog Experience
• Surge in Number of Board Game Cafes
• Crowdfunding Boosters Paving Growth Paths
• Incorporation of Learning Quotient

Market Growth Restraints

• Fear of Tariffs & Trade Slumps
• Advent of Alternative Options
• Profusion in Supply Causing Inequity

Market Opportunities & Trends

• Leveraging Global Retail Trends
• Adapting a Digital-first Approach
• Strategic Product Introductions
• Capitalizing on Board Game Conventions

Key Vendors Analysis

The board games market is slowly becoming a fragmented one, with Hasbro and Mattel enjoying a more substantial chunk of the overall share with several independent vendors barging in. The competition has intensified with several independent vendors emerging in recent years. North America, APAC, and Europe are the key markets for vendors.

However, the markets in Latin America and MEA are expected to witness considerable growth in the coming years. Since the creation of board games does not require any molding or tooling, the overall production cost remains low, making the entry barrier low. Hence, the low-entry barrier is a key factor driving the rise of independent vendors, thereby affecting the market dynamics. Small vendors tend to offer board games at low prices, pushing established vendors to slash their retail prices.

Key Vendors

• Asmodee Editions
• Hasbro
• Mattel
• Ravensburger

Other Prominent Vendors

• Asmadi Games
• Bezier Game
• BoardGameDesign.Com
• Buffalo Games
• Clementoni
• CMON
• Disney
• Fremont Die Consumer Products
• Funko
• Games Workshop
• Gibsons Games
• Goliath
• Grey Fox Games
• IELLO Games
• Indie Boards and Cards
• INI
• International Playthings
• Kamings Trade
• Learning Resources
• Legendary Games
• Loony Labs
• Ludo Fact
• Melissa & Doug
• Mindware.com
• North Star Games
• Orchard Toys
• Panda GM
• Pegasus Spiele
• Piatnik
• RoosterFin
• Reaper Miniatures
• Rio Grande Games
• Schmidt Spiele
• Spin Master
• Spontaneous Games
• Surprised Stare Games
• SunsOut
• Talicor
• The Regency Chess Company
• TREND Enterprises
• Ultra PRO International
• University Games
• USAopoly
• Winning Moves Games
• WizKids
• Zobmondo
  

For more information about this report visit https://www.researchandmarkets.com/r/6amoip

View source version on businesswire.com: https://www.businesswire.com/news/home/20190919005283/en/