Asia-Pacific Table-Top Games Market Present Scenario And The Growth Prospects With Forecast To 2032
The global market for tabletop games has witnessed rapid growth in demand in the past few years. The market's growth is mainly being driven by the growing popularity of games such as card games and board games among the millennial population. Moreover, the growing number of bars and cafes with board games and the growing influence of social media sites such as YouTube, Instagram, and many others are also propelling the growth of the tabletop games market. Additionally, the factors such as the outbreak of COVID-19 and board game conventions are also projected to catalyze the market's growth over the coming years.
One of the key drivers behind the flourishing Asia-Pacific Table-Top Games Market is the rich cultural heritage and diversity prevalent across the continent. Traditional games deeply rooted in Asian cultures, such as Mahjong, Go, and Shogi, have laid a strong foundation for the popularity of table-top gaming. These games not only serve as sources of entertainment but also as avenues for social interaction and cultural exchange.
As per the research reports by MRFR, the global table-top games market size is estimated to attain a valuation of approximately USD 27.7 Billion by the end of 2032. The report suggests that the global market is likely to register a healthy CAGR of over 5.70% during the review timeframe.
Segment Analysis
The global market for tabletop games has been divided into numerous segments based on type, distribution channel, and region.
Based on type, the global market for tabletop games is divided into strategy games, quiz games, card games, board games, etc.
Based on the distribution channel, the global market for tabletop games is split into non-store-based and store-based.
Regional Analysis
The global table-top games market is analyzed across five major regions: North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.
The research reports by MRFR suggest that in 2019, the North American region led the global tabletop games market. The regional market's growth is attributed primarily to the increasing popularity of numerous types of board games across the region. Furthermore, key players specializing in tabletop games such as Buffalo Games, Mattel, Inc., Hasbro, Inc., and many more in the U.S. are also causing an upsurge in the regional market's growth. Moreover, the outbreak of COVID-19 has caused an elevation in demand for tabletop games across the region.
The European regional market for tabletop games is anticipated to register substantial growth over the assessment era.
The tabletop games market for the Asia-Pacific region is estimated to offer lucrative opportunities to the market players over the coming years. The region has leading markets such as Japan, China, New Zealand & Australia. The regional market's growth is driven by the presence of a wide number of millennial populations across the region. Moreover, the increasing popularity of tabletop games via social media sites such as Instagram and YouTube is projected to catalyze the demand for these games across the region over the coming years.
Competitive Analysis
The global table-top games market has a strong and competitive landscape with a wide number of players spread worldwide. The players in the global market are focused on the growth of their global market reach and thus implement numerous growth strategies such as mergers, acquisitions, and product launches. The global tabletop games market has prominent players such as Mattel, Inc. (U.S.), Hasbro, Inc. (U.S.), Korea Boardgames, Co., Ltd. (South Korea), Grand Prix International (Thailand), Grand Prix International (Thailand), Ravensburger AG (Germany), Asmodee (France), Lifestyle Boardgames Ltd. (Russia), Buffalo Games (U.S.), Goliath B.V. (Netherlands), and several others.
Recent Developments
· January 2022- the game's developer Jagex has announced a collaboration with board game developer Steamforged Games to introduce not just one but two tabletop games by the end of 2022. The partnership is the most recent in a long string of collaborations getting some of the major market players into a tabletop environment.
· February 2022- the four-player cooperative first-person shooter, Deep Rock Galactic, is getting the board game treatment. Primarily disclosed in October 2021, franchise creators Ghost Ship Games announced a collaboration with Mood Publishing to get the tabletop version to market.
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