Vietnam’s Toy Market: An Overview 2024

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In this article the Vietnam Briefing looks at Vietnam’s toy market and the challenges and opportunities it presents for foreign firms.

With a population of 100.3 million people in 2023 and a birth rate that has been consistently above 1 million births annually, Vietnam presents a significant market for children’s toys. In addition to this demographic trend, increasing disposable incomes are also driving demand for toy products among Vietnamese parents.

Market overview

According to Statista, the toy market in Vietnam witnessed consistent growth over the last five years. In 2023, the market revenue reached US$951 million, with plastics and other toys emerging as the top-grossing category, generating a revenue of US$272 million.

Vietnam’s toy market, US$ millions

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