The toy businesses can visit and participate in the Lifestyle Vietnam to find toy manufacturers and to discover the possibility to expand toy business in Vietnam and regional market.
The toy production in Vietnam is owned by both Vietnamese and foreign-invested companies with different ranges of products, including wood toys, smart puzzle toys made of polypropylene plastic (PP), stuffed animals, hi-tech toys… Cho Lon Plastic Company in Ho Chi Minh City is one of the toy manufacturers in Vietnam that produce smart puzzle toys made of PP with nearly 200 categories. The company also produces 500 different types of vehicles for children. The prices for these products are 20 to 30 percent lower compared to those produced by other countries. The United States was the main destination for toy exports from Vietnam, accounting for a 70% share of total exports, next to that are Japan, UK, Germany, Australia, Korea… From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at 23.0%, exports to the other major destinations recorded the average annual rates of exports growth is 6.8% for Japan and 12.8% for the UK markets…
Vietnam domestic market is also very potential for the toy business. Vietnam currently has about 20.8 million children aged 0-12. Revenue in the toys market is projected to reach USD 645.80m in 2023 and expected to show an annual growth rate of 12.70% for the period from 2023 to 2027, resulting in a projected market volume of over USD1 billion by 2027. Vietnam is also a gate to the Asia Pacific – the world’s most rapidly developing market for toy sales, and Southeast Asia plays a crucial role in its growth. Southeast Asia’s population is over 625 million and set to grow to 717 million by 2030. In addition, their economies are growing fast, with aggregated GDP growth of 4.7% per annum.
