Upcoming Trade Shows in for Toys

The global toy industry has actively begun to grapple with its sizeable environmental impact and we’re seeing the adoption of several sustainability strategies on the commercial and manufacturing sides. This industry shift has a lot to do with parents becoming a lot more mindful about what they buy for their children. With most toys being made of non-recyclable plastics and generating substantial waste, consumers are demanding action from manufacturers to address these concerns. The toy industry alone contributes more than 1 million tons of plastic waste annually, prompting major companies like Mattel and Hasbro to adopt sustainable practices. Mattel has pledged to utilize 100% recycled, recyclable or bio-based materials in its products and packaging by 2030, with initiatives such as using sugarcane-based materials already underway. Similarly, Hasbro aims to eliminate all plastic from its packaging by 2022. Although manufacturing takes the front seat when it comes to sustainability, we’re also seeing new business models emerge that de-center ownership. Toy subscription services are witnessing a surge in popularity as they offer an alternative to traditional toy purchasing. These services allow parents to rent toys instead of buying them, which appeals to environmentally-conscious parents seeking to reduce waste. Studies show that Americans spend an average of $6,500 on toys over a child’s lifetime, making toy subscription services an attractive and cost-effective option for many families. Children are able to play with a great diversity of toys, while parents make significant savings and rest easy knowing they’re not producing waste. Companies like Whirli, known as the Netflix of Toys, have raised significant funding to support their growth in the toy rental market. Whirli, based in the UK, secured $5.4 million in seed funding, highlighting the growing demand for sustainable and innovative toy solutions. Similarly, Green Piñata Toys and KiwiCo have experienced substantial growth in their subscription-based models.