Global TIC Market for Childcare Products & Toys is Anticipated to grow at a Significant Pace and was USD 1.6 billion in 2020

Published Date: Sep, 2021

The TIC market for childcare products & toys is expected to witness a CAGR of 4% during the forecast period. TIC services help improve the standards of the manufacturing process by conducting testing, inspections, and certifications in accordance with regulations around the world. This will help in the production of quality, safe, and reliable products/components in the childcare products & toys industry. The factor driving the growth of the TIC market in childcare products & toys is globalization which has provided standardization of products and goods that are used in childcare products & toys. Moreover, rapid urbanization, mandatory safety regulations, advancement in networking and communication technology, digitalization, need to have credibility and image, reduced turnover of employees, increased level of cost control improvement, and rapid improvement of various processes will fuel the growth of TIC in childcare products & toys. Nevertheless, the mounting awareness among consumers regarding risks and hazards in toys will provide promising opportunities for the growth of the TIC market in child care products & toys.

The COVID-19 outbreak has affected all the industries and there was a disruption in the supply chain and reduced workforce. There was the temporary closure of educational institutions to contain the spread of the coronavirus. However, there is a substantial growth in the sale of traditional toys like outdoor activity toys, construction and craft toys, board games, and puzzles as they are used for play and education. There is a need to comply with regulations such as EN71 European Product Safety Standard, et., so there is a need to provide testing and inspection to the toy and child care products industry to provide quality assurance resulting in the growth of the TIC market for childcare products & toys.

UL, a global safety science company announced the launch of the Bureau of India Standards (BIS) recognized testing services for domestic and foreign toy manufacturers in the country as per the Indian Standards (IS). Thus, Ul had set up a new testing facility in Gurugram, India.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " TIC Market for Childcare Products & Toys Industry by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Products for Babies and Toddlers (Children’s Baby Apparel and Footwear, Cots, Cradles, Strollers, Highchairs, and Seats, Play Yards, and Nursing Products), and Toys (Dolls, Plush, Wooden, Metal and Plastic Toys, Stationary, Chemical and Educational Toys, Electric & Radio Controlled and Electronic Toys, And Games), and Others), and Region - Global Forecast to 2027"

By service type, the testing segment is playing an important role in the TIC market for childcare products & toys industry during the forecast period.

Based on service type, the TIC market for childcare products & toys is segmented into testing, inspection, and certification. Testing is playing an important role in the effective production of quality and safe products. Moreover, authorities around the world are aware of the importance of toy safety, so they are implementing new standards and safety measures to ensure that toys do not pose a risk to children and consumers. Testing is done against a wide variety of standards which includes mechanical and physical properties, flammability, hazardous chemicals, electrical properties.

Global TIC Market for Childcare Products & Toys Industry Segmentation Analysis

Segment

Categorization

Leading Category

Sourcing Type

In-House and Outsourced

In-House (Largest)

Service Type

Testing, Inspection, and Certification

Testing (Largest) Certification

 (High CAGR)

Industry Vertical

Products for Babies and Toddlers (Children’s Baby Apparel and Footwear, Cots, Cradles, Strollers, Highchairs, and Seats, Play Yards, and Nursing Products), and Toys (Dolls, Plush, Wooden, Metal and Plastic Toys, Stationary, Chemical and Educational Toys, Electric & Radio Controlled and Electronic Toys, And Games), and Others

Electronic Toys & Educational Toys  

(Significant Grwth)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific

(High CAGR)

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“APAC is anticipated to witness fastest-growing region during the forecast period in the TIC market for childcare products & toys industry.”

The Asia Pacific is anticipated to be the fastest-growing region during the forecast period owing to the rising brand penetration and a wide distribution network, resulting in the growth of child care products & toys. Moreover, manufacturers, importers, and retailers that are involved in child toy manufacturing in China and Asia are implementing robust supply chain management to have proper and timely delivery of finished goods to meet mandatory toy regulations and awareness regarding safety among consumers, resulting in the growth of TIC market for childcare products & toys.

Some of the key players operating in the TIC market in child care products & toys: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, TUV Rheinland, DEKRA SE, ALS Limited, Element Materials Technology, and TUV SUD.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Sourcing Type, Service Type, Industry Vertical, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, TUV Rheinland, DEKRA SE, ALS Limited, Element Materials Technology, and TUV SUD.

 

Global TIC Market for Childcare Products & Toys Industry- Market Coverage

Sourcing Type Insight and Forecast 2015-2027

  • In-House
  • Outsourced

Service Type Insight and Forecast 2015-2027

  • Testing
  • Inspection
  • Certification

Industry Vertical Insight and Forecast 2015-2027

  • Products for Babies and Toddlers
    • Children’s Baby Apparel and Footwear
    • Cots, Cradles, Strollers, Highchairs, and Seats
    • Play Yards
    • Nursing Products
  • Toys
    • Dolls
    • Plush, Wooden, Metal and Plastic Toys
    • Stationary
    • Chemical and Educational Toys,
    • Electric & Radio Controlled and Electronic Toys
    • Games

Geographical Segmentation

TIC Market for Childcare Products & Toys Industry by Region

North America

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global TIC Market for Childcare Products & Toys is Anticipated to grow at a Significant Pace and was USD 1.6 billion in 2020