[Asia Economy Reporter Jeong Hyunjin] The 'Kidult' group, adults who buy toys for themselves, is driving the growth of the global toy market, including in the United States and Japan. Adults who purchased toys to play with at home during the COVID-19 pandemic continue to show steady affection for toys even in the 'With Corona' era.
According to CNBC and others on the 25th (local time), market research firm NPD Group analyzed data from September last year to September this year and found that in the United States, the proportion of toy purchases by age group 12 and older accounted for 25% of total toy purchases. In terms of amount, this is about $9 billion annually (approximately 11.5 trillion KRW). Even considering those aged 18 and older, the share is 14% ($5.7 billion), a 19% increase compared to the previous year. NPD evaluated this Kidult demand as the biggest growth driver leading the industry.
This trend is not limited to the United States. On the 26th, Nihon Keizai Shimbun cited the Japan Toy Association, forecasting that toy sales in Japan this year will increase by 9% compared to the previous year, reaching a record high. In South Korea, according to the Korea Creative Content Agency, the Kidult market size expanded from about 500 billion KRW in 2014 to 1.6 trillion KRW last year, and is expected to grow up to 11 trillion KRW in the future.
Kidult is a term combining 'Kid,' meaning child, and 'Adult,' meaning adult. It is a neologism created from the phenomenon where adults nostalgic for their childhood collect or enjoy toys, comics, and the like to preserve the atmosphere and emotions of that time. Nowadays, even adults who purchase toys for themselves are collectively called Kidults.
Jeremy Padawer, Chief Brand Officer (CBO) of Jazwares, a toy company owning brands such as Star Wars, Pok?mon, Fortnite, and Roblox, told CNBC that toys based on movies and TV programs from the 1970s and 1980s became a huge trend in the U.S., and the generation who experienced fandom during that time is now in their 30s and 40s, becoming the start of the Kidult phenomenon. When Star Wars was first released in 1977, various products flooded the market, and the generation that enjoyed them still seeks related toys today.
There was a catalyst for the rapid increase of Kidults, which had been gradually growing: the pandemic. Michihiro Maeda, chairman of the Japan Toy Association, analyzed, "With the establishment of remote work due to COVID-19, the time spent enjoying hobbies and entertainment increased, leading to a rediscovery of the charm of toys." Genevieve Cruz, Senior Director at LEGO, a representative toy for Kidults, said, "The pandemic certainly acted as a catalyst for this trend," adding, "However, I believe this trend will continue beyond the pandemic."
Accordingly, toy companies are focusing on releasing products for Kidults and creating separate channels for them. According to the Associated Press, LEGO has been expanding products for adults since 2020. There are nearly 100 adult products, including space exploration series and luxury cars. They feature themes from movies and TV programs enjoyed by adults, such as Friends, Avatar, Harry Potter, and Star Wars, as well as products that allow building office scenes.
Build-A-Bear, a toy company centered on teddy bears, opened an adult-oriented website called 'Bear Cave' last year and sells various collectible teddy bears. They offer products such as office-themed teddy bears dressed in suits and glasses, and teddy bears with Swarovski crystal eyes made in collaboration with the jewelry company Swarovski. They also have products made in partnership with famous movies like Star Wars and The Lord of the Rings.
Saren Price John, CEO of Build-A-Bear, said, "We have confirmed that adults have been buying teddy bears for themselves for the past five years, and we have focused on online business for adults in response." The proportion of sales from adults and teenagers accounts for about 40% of Build-A-Bear's total sales this year, doubling from 20% in 2012.
Eric Nyman, President and Chief Operating Officer (COO) of Hasbro, a U.S. company famous for toys such as Marvel figures and Monopoly, recently told Fox Business in an interview, "I think next year will be a very good time for adults who love toys and games," and announced plans to release products related to the movie Dungeon & Dragons in March next year. He also added that they have partnered with the movie Transformers: Rise of the Beasts, set to be released in June next year.
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