2025年中国潮流玩具行业白皮书（精华版）

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The Chinese art toy industry has transformed from a niche luxury market to a mass-market segment, with a growing consumer base driven by Gen Z and the blind box economy [5][6] - The market is expected to reach a scale of 74.7 billion yuan by 2024, significantly outpacing traditional toy industries [6] - The industry is characterized by a competitive landscape dominated by a few key players, with Pop Mart leading in revenue and TOPTOY achieving rapid growth through differentiation strategies [7][57] Summary by Sections Industry Overview - The Chinese art toy industry has evolved from a niche market to a broader consumer base, with a focus on affordability and accessibility [5] - The core consumer demographic has expanded beyond niche enthusiasts to include a wider audience, including Gen Z and blind box users [5][6] Market Dynamics - The industry is experiencing a trend of refined division of labor and full-chain integration, driven by the rise of Gen Z purchasing power and accelerated IP commercialization [6] - The market is projected to grow to 74.7 billion yuan by 2024, with a growth rate surpassing that of cultural and traditional toy sectors [6] Competitive Landscape - The competition is intense, characterized by a "one strong, many strong" pattern, with Pop Mart leading with a projected revenue of 11.99 billion yuan in 2024 [7][57] - TOPTOY has achieved a compound annual growth rate (CAGR) of 115.4% in revenue from 2021 to 2024, indicating strong market performance [7][57] Consumer Insights - The primary consumer group for art toys consists of young adults aged 20-39, with a significant female demographic [52][56] - The demand for art toys is driven by the desire for self-expression and cultural identity among consumers, particularly in high-tier cities [56] Policy Environment - Recent government policies have aimed to support the high-quality development of the art toy industry, focusing on consumer promotion and intellectual property protection [15][17] Production and Supply Chain - The production of art toys is concentrated in regions like Guangdong, with a low entry barrier leading to a fragmented market [28][32] - The industry relies heavily on outsourcing for manufacturing, which helps reduce costs and increase production efficiency [32] Future Outlook - The art toy industry is expected to continue its growth trajectory, with a focus on IP originality, cultural integration, and global expansion strategies [8][46]