POP MART(HK:09992) Sou Hu Cai Jing·2025-12-14 13:40Core Insights - The trend toy market is experiencing significant growth, driven by unique designs, aesthetic appeal, and the integration of popular culture, with a focus on collectible value and resale potential [3][5]. Market Overview - The global trend toy market has shown a consistent double-digit growth rate, with the market size increasing from $20.3 billion in 2020 to $41.8 billion in 2024, reflecting a compound annual growth rate (CAGR) of nearly 20% [3]. - In China, the trend toy market is booming, with the market size projected to grow from 22.9 billion yuan in 2020 to 76.3 billion yuan in 2024, achieving a CAGR of 35% [5]. Product Categories - The trend toy market is diverse, with blind boxes representing the largest segment, accounting for over one-third of the market share in 2024. Additionally, assembly toys and building sets make up nearly one-fifth of the market [1]. Policy Support - Recent government initiatives, such as the measures issued by the State Council in January 2025, aim to promote the development of fashionable domestic products, including trend toys, by encouraging collaborations in various sectors [7][10]. - Policies emphasize the integration of traditional Chinese culture into product design and support the development of original intellectual property (IP) brands, which is expected to enhance the trend toy market [8][10]. Consumer Behavior - The trend toy market appeals to younger consumers as a means of self-expression and social interaction, with urbanization and rising disposable incomes contributing to increased consumer engagement [11]. - Innovative products like blind boxes create emotional connections with consumers, enhancing their willingness to purchase and increasing repurchase rates due to the anticipation of "hidden" and "popular" items [11].