21 January 2024
Licensed Toys and Building Sets led the way in 2024, helping bolster the £3.4billion UK toy market performance
- Toy industry sales up by over 50% in the week leading up to Christmas
- The UK toy market for 2024 was worth £3.4Bn, a decline of -3.7% in value, reflecting the broader impact of current challenging economic conditions
- The top-selling toy of 2024 was Squishmallows’ 8” Plush for the second year
- Building Sets, Vehicles, and Soft Toys all returned positive growth in sales
- Licensed Toys dominated 35% of the market (up +3%) driven by Lilo & Stitch, UEFA, Despicable Me/Minions, Bluey, and Sonic
The British Toy & Hobby Association (BTHA) and Circana presented their annual industry insights at London’s Toy Fair. Held at Olympia London from the 21st to 23rd January 2025, unveiling a whole host of positive trends gleaned from the previous 12 months’ sector-wide performance.
While the UK economy may have continued to present a challenging picture during 2024, figures released by Circana show that the UK toy market remained resilient, generating £3.4billion in overall sales, which was bolstered by a surge of Christmas sales (up 51%) in the week leading up to Christmas. While sales in 2024 may have been down by 3.7%, several toy categories achieved growth in 2024, adding to the positive trajectory.
The Building Sets Super Category was up by 6%, which resulted in it achieving the highest category share of the toy market last year, driven by The LEGO® Group performance, while Vehicles and Soft Toys also out performed the market. Vehicles have been on the rise in the last 12 months, including the popular Monster Jam from Spin Master Toys, which has out performed total Vehicle growth.
Boosted by top toy blockbuster movies, sports, and video games, Licensed toys continued to play a key role in shaping market dynamics during 2024. Licensed toys occupy 35% of overall total market share, up by 3%, thanks to the likes of Lilo & Stitch, UEFA, Despicable Me/Minions, Bluey and Sonic. As for the Top Properties spots, Star Wars topped the list followed by Pokemon and Marvel. Meanwhile, Lilo & Stitch led the Top Gaining Properties list followed by LEGO Botanicals and LEGO Icons. Retailing at £8.57, the Squishmallows Plush 8” Assortment retained its position as the top-selling item in 2024 for the second-year-running. This highlights the enduring appeal of soft toys for UK consumers and emphasises the importance of accessible pricing within the toy market.
The latest figures also show that MrBeast Lab, the Wicked Movie, Unicorn Academy and Squish-a-longs to name a few, were among the top new launches within the total market. The Wicked Movie was also highlighted as gaining new property traction, thanks to the widespread appeal and success of the recent hit movie.
Commenting on the key report findings and insights, Kerri Atherton, Head of Public Affairs at the BTHA, said: “These latest figures have undoubtedly been shaped by the current unsettled economic landscape which is impacting people’s spending across a wide range of consumer goods, including toys. However, it is promising to see there are pockets of increased spend across the UK toy sector, which has been fuelled by Building Sets and people’s continued interest in and love for The LEGO ® Group, Squishmallows and, of course, the boom in the Licensed Toys category.
“Casting our minds forward, we look forward to seeing what the next 12 months have in store as the established brands continue to reinforce their presence and new and emerging products enter the UK toy market. The toy industry is working hard to provide value for money on toys that excite and delight consumers throughout the year, as well as the bigger ticket items around birthdays and Christmas.”
Melissa Symonds, Executive Director, UK Toys, Circana said: “The toy market continues to thrive on innovation, with 30% of its value last year coming from new products. This dynamic growth is fueled by the excitement of emerging brands, the nostalgic appeal of relaunches, and the ongoing reinvention of beloved, established lines.”
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Notes to Editors
Source: Circana / Retail Tracking Service / U.K. / Full Year YTD December 2024
About Toy Fair
Toy Fair is the UK’s largest dedicated toy, game and hobby trade exhibition taking place at Olympia London. The event takes place over three days at the end of January each year and plays host to hundreds of exhibitors, from startups to some of the biggest toy companies, launching thousands of new toy lines.
Toy Fair 2025 takes place from Tuesday 21st – Thursday 23rd January. Press day is Tuesday 21st January. Please note the opening times are 09:00-18:00 Tuesday 21st and Wednesday 22nd, and 09:00-16:30 Thursday 23rd January.
About the BTHA
The British Toy & Hobby Association was established in 1944 to represent the interests of British toy manufacturers and to raise standards of practice in the industry. Today it has more than 150 members ranging from international toy giants to small family-run businesses that together account for more than 80% of the UK toy market. Membership of the British Toy & Hobby Association shows the member’s commitment to adhere to the BTHA Code of Practice under the umbrella of the Lion Mark which includes rules covering ethical and safe manufacture of toys, toy safety, a ban on counterfeit goods, an assurance to market responsibly, a commitment to improving sustainability and a desire to promote the value of all play through support of the Make Time 2 Play campaign. Our members are manufacturers committed to making good quality toys in a responsible way. The BTHA also administers the Toy Trust – the industry’s charity.
About Circana
Circana is the leading advisor on the complexity of consumer behavior. Through unparalleled technology, advanced analytics, cross-industry data and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand and outpace the competition. Learn more at www.circana.com.
