Kidult market boosts toy industry growth

Millenials make up 50 percent of the spend among adults who buy toys for their personal use, followed by the Generation X-ers and Boomers.

The kidult sector, currently valued at £300 million ($387 million), is growing three times faster than the overall toy market, based on a report from the NPD Group.

This segment saw a value growth of 65 percent in 2012, followed by a 21 percent increase in 2016. In Britain alone last year, it was determined that one out of 11 toys sold was bought by adults (ages 18 and up) for their own personal use.

Regarding demographics, it was shown that 50 percent of the entire spend among grown-ups belong to the millenials (18- to 34-year-olds). Generation X-ers (35- to 54-year-olds), meanwhile, make up a third of the whole share, while Boomers (55-year-olds and up) occupy 18 percent. Other consumers include singles and non-parents who have more time and disposable income as compared to those who have their own families.

In terms of toy type, much demand is seen for collectibles and well-known characters, which are made more popular by nostalgia and sentimentality on the part of users, as well as relevance by reinvention through recent movie releases and other tie-ups. Star Wars and Lego, for example, are sought-after brands by consumers spanning all generations. Other on-trend categories for the kidult market are games and puzzles at 17 percent in sales, building sets and action figures at 16 percent, and vehicles at 11 percent.