The toy industry stands on the cusp of significant opportunities in every toy segment such as electronic toys, construction and building toys. The Iranian toy market has been identified as a niche market with lots of unexploited prospects.
The domestic toy sector is still pretty new with around 250 active manufacturing units nationwide. And the government is seeking ways to boost its toy productions.
Global turnover of the toy industry was roughly 300 billion dollars in 2019. China had a lions share of the international toy market followed by India, the United States and Indonesia.
According to the Irans Toy Association, around 20 percent of toys found in the domestic market are locally produced. This is while Iran is a large regional toy consumer with annual imports of around 150 million dollars.
Based on figures from Irans Toy Association, exports of Iranian toys stood at around $16 million last year, meaning the country does have potential to increase its industry capacities.
The toy sector can generate a billions in foreign revenue through exports in the region. Iran shares cultural similarities with countries who would welcome Iranian toys sharing the same value systems.
Developments of the toy sector could be vastly improved with investments in technology and other innovative production methods. Iran is capable of increasing its share of the international toy market in light of its enormous capacity in the production of petrochemicals.
Plastics and other petrochemical products constitute a major part of the raw materials needed in the toy industry. Other materials such as textiles and metals are also abundant in domestic markets. Moreover, the country has a young and creative workforce with innovative ideas and a strong design field.