A comparison of brand performance, market size, and sales data (2024)
China and the U.S. are the two biggest toy markets in the world. In 2024, China hit $52.3 billion in total toy sales and passed the U.S. for the first time. The U.S. came in at $41.8 billion. The two markets are pretty different though. China focuses on selling a lot of cheaper toys online, while the U.S. leans on big brand names and higher prices.
This page compares both markets using brand data, key statistics, and quarterly sales numbers. Click on brand names or metric names to load more info in the boxes below each table.
China: $52.3B. U.S.: $41.8B. China passed the U.S. as the largest toy market in 2023.
China grew 9.2% in 2024. The U.S. only grew 2.1%. China is growing about four times faster right now.
Toys in China average $8 to $15. In the U.S. the average is $18 to $35.
China exports $38B in toys a year. The U.S. exports $8B. China makes about 80% of the world's toys.
Click on brand names for detailed analysis. Hover over any row to highlight it. Click column headers with (?) for definitions.
| # | Brand | Market | Market Share (%)
Each brand's share of the combined China and U.S. toy market. The table is sorted by this column, highest to lowest.
|
Revenue (USD)
Estimated toy-segment revenue for 2024. For companies that do other things, only the toy portion is counted.
|
Category | YoY Growth
How much the brand grew compared to last year. Plus means growth, minus means they shrank. YoY = year over year.
|
|---|---|---|---|---|---|---|
| 1 | Mattel | U.S. | 12.4% | $5.17B | Dolls and Action Figures | +4% |
| 2 | Hasbro | U.S. | 10.8% | $4.51B | Games and Collectibles | -3% |
| 3 | LEGO Group | U.S. | 9.6% | $4.01B | Construction and STEM | +7% |
| 4 | ZURU Group | China | 7.2% | $3.01B | Novelty and Outdoor | +22% |
| 5 | Spin Master | U.S./Canada | 5.1% | $2.13B | Preschool and RC | +8% |
| 6 | Bandai Namco | China | 4.8% | $2.00B | Collectibles and Anime | +15% |
| 7 | JJRC Technology | China | 3.9% | $1.63B | RC and Drones | +28% |
| 8 | VTech Holdings | China (HK) | 3.4% | $1.42B | Educational Toys | +6% |
| 9 | MGA Entertainment | U.S. | 3.1% | $1.29B | Fashion Dolls | +11% |
| 10 | Auldey Toys | China | 2.7% | $1.13B | RC and Educational | +18% |
| 11 | Funko | U.S. | 2.2% | $0.92B | Pop Culture Figures | -8% |
| 12 | Silverlit Group | China | 1.9% | $0.79B | RC Aircraft | +14% |
Key market metrics comparing the two largest toy markets globally. Click on metrics for detailed explanations.
| Market Metric | China (2024) | United States (2024) | Ratio (China/U.S.)
Shows how much bigger China's number is compared to the U.S. Above 1.0 means China leads. Below 1.0 means the U.S. leads on that stat.
|
What It Means |
|---|---|---|---|---|
| Total Market Size | $52.3B | $41.8B | 1.25:1 | China is now the biggest toy market in the world |
| Growth Rate (YoY) | +9.2% | +2.1% | 4.4:1 | China is growing over 4x faster |
| Average Toy Price | $8 to $15 | $18 to $35 | 0.4:1 | U.S. toys cost 2 to 3x more on average |
| Toy Exports | $38B | $8B | 4.75:1 | China manufactures about 80% of the world's toys |
| Online Sales Share | 65% | 28% | 2.3:1 | China sells far more toys online than in stores |
| Top Category | Educational | Action Figures / Dolls | N/A | Parents in each country want very different things |
Both markets have a big jump in Q4 because of holiday shopping. Hover any row to highlight it.
| Quarter | Market | Exports (USD B)
How much each country exported in toys that quarter. China exports a lot because it manufactures for brands all over the world.
|
Domestic Sales (USD B) | Online Sales % | YoY Growth |
|---|---|---|---|---|---|
| Q1 2024 | China | $9.2B | $10.8B | 62% | +8.4% |
| Q1 2024 | U.S. | $1.9B | $8.4B | 25% | +1.8% |
| Q2 2024 | China | $10.1B | $11.9B | 64% | +9.1% |
| Q2 2024 | U.S. | $2.1B | $8.7B | 27% | +2.0% |
| Q3 2024 | China | $11.4B | $12.6B | 66% | +10.2% |
| Q3 2024 | U.S. | $2.3B | $9.1B | 28% | +2.3% |
| Q4 2024 | China | $12.8B | $16.9B | 67% | +11.5% |
| Q4 2024 | U.S. | $2.7B | $15.6B | 30% | +2.8% |
Compare JJRC Technology (+28%) from China and Mattel (12.4% share) from the U.S. JJRC is growing faster than any other brand here, but Mattel still has way more total revenue and market share. That is the difference between a rising brand and an established one.
Click the button below to highlight both rows in the main table, then click each brand name to read more about them.
Look at the quarterly data. China's domestic sales go from $10.8B in Q1 all the way to $16.9B in Q4. That is a $6 billion jump in one year driven mostly by the holidays. The same pattern shows up in the U.S. Q4 is by far the most important sales quarter for toy companies.
Click below to highlight China's rows in the quarterly table so you can track how they change through the year.
Hover over any table row to highlight it and spotlight the main data column. Click column headers (?) to open definitions. Click brand or metric names to load summaries below each table. Hover over glossary terms to see animated definitions.
Growth Gap: China's brands are growing about 4x faster than U.S. brands on average. Cheap manufacturing and booming online retail are the main reasons why.
Scale vs. Price: The U.S. charges more per toy but grows slowly. China sells more units at lower prices and is winning on volume and speed right now.
Seasonality: Both markets get 35 to 40% of their yearly toy revenue in Q4. Missing the holiday window is a big deal for any brand.
Hover over any term to reveal its definition. Move your mouse away to close it.
Data on this page was compiled from publicly available sources including company filings and industry reports.