Games and Puzzles Industry - Games Market and Puzzles Market

Among the drivers propelling the market growth are the nostalgia associated with playing games, the range of social contact that games and puzzles offer, intellectual stimulation, and increased interest in licensed games and puzzles. According to studies, solving puzzles and playing puzzle games consistently encourages the formation of new brain connections, which enhances short-term memory. As per the study of the University of Michigan, the individuals who solved crossword puzzles for 25 minutes a day had an IQ score gain of four points.

Access the Global Games and Puzzles Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

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Games and Puzzles Industry Data Book Coverage Snapshot

Markets Covered

·??????? Games and Puzzles Industry USD 15.09 billion in 2022 17.3% CAGR (2023-2030)

·??????? Games Market Size USD 8.40 billion in 2022 16.8% CAGR (2023-2030)

·??????? Puzzles Market Size USD 6.68 billion in 2022 18.0% CAGR (2023-2030)

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Games Market Growth and Trends

These provide a social and dynamic experience that promotes player interaction and teamwork toward a common objective, making them an enjoyable and interesting way to spend time with friends and family. This market's revisit significance, adaptability, and dynamism are significant driving forces. The state-owned international broadcaster, Deutsche Welle, reported that the demand for board games grew by 20% in 2020, according to German readership. Games like Carcassone, Risk, Monopoly, Dominion, and Settlers of Catan are among the most widely played games on the market.

The licensed game segment is poised for substantial growth during the forecast period. This growth is primarily fueled by market players actively introducing captivating games specifically designed for children. These game developers have recognized the immense potential in catering to the younger audience, leveraging popular licensed characters, brands, and franchises that resonate with kids. For instance, in May 2022, London-based Outright Games launched a digital teaser on YouTube, showcasing five new licensed games for kids based on big-name entertainment brands. The games are based on L.O.L. Surprise, PAW Patrol, and more.

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Order your copy of the Free Sample of “Games and Puzzles Industry Data Book - Games Market and Puzzles Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030, published by Grand View Research

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Puzzles Market Growth and Trends

Puzzle-solving is a relaxing and restorative pastime. A December 2022 study by Aviva revealed that more than 45% of individuals in the UK enjoyed puzzle-solving. Most of them prefer puzzles in a material format, and about 84% have done puzzles like number puzzles, jigsaws, and word problems in the past year. Additionally, adults over 55 are driving the puzzles market’s growth since they are more inclined than others to prefer puzzles in material formats.

The puzzle market has experienced innovation and excitement due to the rise of 3D and 4D puzzles. These puzzles can be educationally advantageous and provide a more engaging experience. A Canadian company that specializes in 3D puzzles is Wrebbit Puzzle Inc. It develops a variety of puzzles with a range of themes, such as Harry Potter, Game of Thrones, and Lord of the Rings. The company launched its 440-piece Friends-inspired Central Perk! 3D Jigsaw Puzzle in April 2021.

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Non-licensed puzzles are widely available online as e-commerce expands. Customers may browse various options, evaluate prices, and read reviews owing to this accessibility before making a purchase. Online shopping's convenience has contributed to the growth of non-licensed puzzle sales. Since people buy puzzles for thoughtful and enjoyable gifts, the puzzle-giving culture helps puzzle sales. This allows non-licensed puzzles a more universal appeal, making them a more reliable and profitable investment for manufacturers.

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Competitive Insights

The manufacturers aim to achieve optimum business growth and a strong market position by implementing various strategies such as acquisitions, new product launches, collaborations, and strengthening distribution networks in the global and regional markets. The manufacturers in the market aim to intensify their market positions by widening their customer base.