Vietnam’s toy and game manufacturing industry increased by 74.8 percent in January compared to the 2019 baseline, according to Vietnam’s Industrial Production Index. However, this was lower than December 2024, when output stood at 98.5 percent above 2019 levels.
Month-on-month, production fell by 15.4 percent in January compared to December, while year-on-year, the sector saw a 17.8 percent decline from January 2024, indicating a slowdown in demand.
Toy and game manufacturing in Vietnam has been expanding, driven by growing global demand, foreign investment, and the country’s competitive manufacturing environment. The industry produces a wide range of products, including plastic toys, stuffed animals, board games, and electronic toys, catering to both domestic and export markets.
Vietnam has become an important production hub for international toy companies, with manufacturers such as Lego, Hasbro, and Mattel investing in local facilities. The country’s low labor costs, strong supply chain, and proximity to key Asian markets make it an attractive alternative to China for toy production. In recent years, Lego announced a major investment in a new manufacturing facility in Vietnam, further boosting the industry’s growth.
Local manufacturers also contribute to the market, producing toys and games for domestic consumption and regional exports. Vietnamese companies focus on traditional toys, educational products, and wooden toys, with a growing emphasis on eco-friendly and sustainable materials.
Challenges for the industry include the need for stricter quality control to meet international safety standards, competition from other manufacturing countries, and increasing consumer demand for high-tech and interactive toys. However, government support for foreign investment and improvements in production technology are helping the sector remain competitive.
Vietnam’s toy and game manufacturing industry is growing steadily, supported by foreign investment and increasing demand. With continued expansion and a focus on quality and innovation, Vietnam is well-positioned to strengthen its role in the global toy supply chain.
See also: Vietnam’s Toy Industry: Overview