中国潮玩行业竞争趋向多元化

Core Viewpoint - The 2025 LEC Global Licensing Expo showcased the booming toy and trendy play market, highlighting significant growth in both domestic and international markets, with a focus on diverse product categories and the integration of cross-industry IP collaborations [1][2]. Industry Overview - The toy market in China is projected to reach a scale of 877 billion yuan by 2025, with exports of dolls and animal toys exceeding 13.31 billion yuan in the first four months of 2023, marking a 9.6% increase [1]. - The trendy play market is experiencing expansion in two dimensions: diversification of product categories and accelerated integration of cross-industry IP collaborations [1][2]. Company Activities - Companies are increasingly investing in the trendy play market, with notable transactions including Quantum Song Group's acquisition of a 61% stake in Shenzhen Yiqi Culture for 235 million yuan and investments by Wanda Film and Reading Group in various trendy play enterprises [1][2]. - The investment in "Super Vitality Factory," a plush toy brand, marks the first instance of a mainstream investment institution entering the plush toy industry in China [2]. Product Diversification - The market is shifting from a focus on blind box competition to a more diverse range of products, with companies like Pop Mart and 52TOYS expanding their offerings to include plush toys, action figures, and various collectibles [2]. - 52TOYS has developed a product range that includes static figures, movable toys, and plush toys, covering 2,800 SKUs, and emphasizes the importance of IP style and differentiation in product development [2][4]. IP Strategy - 52TOYS operates on a model of "self-owned IP operation + authorized IP cooperation," with 35 self-owned IPs and 80 authorized IPs expected to generate 24.5% and 64.5% of revenue, respectively, by the end of 2024 [4]. - The ability to successfully launch original IPs and creatively develop authorized IPs is seen as a competitive advantage in the evolving market landscape [4]. Future Trends - The competition in the trendy play market will increasingly depend on how brands enrich their IP ecosystems, with companies exploring various content forms such as animation and literature to enhance brand presence [4][5]. - The establishment of theme parks and the development of original animations are strategies being employed by leading companies like Pop Mart to deepen the impact of their original IPs [4].