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Why is China a plush toy powerhouse?

July 12, 2024
China does have an important position in the plush toy field, but whether it can be called a "big country" needs to be analysed from several angles.
Firstly, according to many data and reports, China's plush toys market size is among the largest in the world. For example, China's plush toys market reached RMB 339.727 billion in 2022. In addition, China is the third largest plush toys selling country or region in the world, after the United States and Japan. These figures indicate that China holds a considerable share of the plush toys market and its market size is continuing to grow.
Secondly, China is not only an important plush toy market, but also one of the largest plush toy production bases in the world. Many companies have set up factories in China for large-scale production. This is further evidence of China's leading position in plush toy manufacturing.
However, despite the size of the market, China's annual per capita consumption of plush toys is still relatively low at US$23, far below the US$284 of the US and US$312 of Japan. This indicates that China still has a lot of room for improvement in terms of per capita consumption.
In summary, China has significant scale and production capacity in the plush toys market and can be considered as one of the major plush toys countries. However, it should be noted that despite the large market size, there is still a large potential for improvement in terms of per capita consumption and market penetration.
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