The Vietnam toys market reached US$570 million in 2024 and is forecast to grow to US$1 billion by 2033, posting a CAGR of 5.6%. The surge is underpinned by rising disposable income, a youthful demographic, and increasing interest in educational, interactive, and sustainable toys, according to a report from IMARC Group.
Key points:
- Market size in 2024: US$570 million
- Projected market size by 2033: US$1 billion
- Growth rate (CAGR 2025–2033): 5.6%
- Educational and STEM-based toys are in high demand among parents
- Toy brands increasingly focus on eco-friendly materials and non-toxic safety standards
- Rapid e-commerce expansion is reshaping consumer access and marketing strategies
- Western cultural influences are driving demand for licensed and character-based toys
Vietnam’s toy market reflects broader trends in economic development and consumer awareness. With a growing middle class, urbanisation, and a tech-savvy young population, demand is shifting toward higher-quality, purpose-driven toys. The rise in eco-consciousness and digital retail channels is also prompting manufacturers to innovate both in materials and engagement. For investors and brands, Vietnam offers a promising, fast-evolving landscape with opportunities to tap into a values-oriented and growth-ready market.
See also: Vietnam’s Toy Industry: Overview