Investment analysis on development prospect of blind box industry

Investment analysis on development prospect of blind box industry

What is the potential market for blind boxes? The concept of "collectible toy" was born overseas. It usually refers to toys that can be collected and collected. Its meaning goes beyond itself, often arousing players' memories and generating emotional resonance with players. Statistics show that by 2025, the core consumer group of the collectible toy industry to which Chaoplay belongs will exceed 100 million people.

Blind box as a trend toy, blind box accurately cut into the market of young consumers, many such as archaeology blind box, stationery blind box, beauty blind box, snack blind box and other "blind box +" business models are also rapidly produced.

Blind box culture originated in the United States and developed in Japan. The so-called blind box, as the name implies, is a box containing a variety of cute dolls, but there is no specific label on the box, with its limited model of hunger marketing, greatly stimulate consumers' desire to buy and re-purchase. Experts believe that from the perspective of macro consumption environment, in the current era of high material abundance, sales have developed from selling commodities to selling entertainment, and the boom of "blind box economy" is thus derived.

In 2020, the domestic collection toy industry entered the outbreak period. The report predicts that in 2025, China's collectible toy market scale will exceed 150 billion yuan, with the overall market growth rate as high as 35%. The male IP expert group will contribute the largest increment, and the advanced collection toys such as mecha morphing, action figures and super alloy will contribute the major increment.

In recent years, the Chinese trend toy market grows rapidly, the boundary continues to extend, the sales channel continues to expand. According to the report, after the rapid development since 2015, the number of registered enterprises of trendy toys in China has reached 250 by 2020. It has developed many popular toy enterprises such as Puff Mart, 52TOYS, Ruolai Ruowei, Seeking Unicorn, Xinghuichao Play, etc., and created MOLLY, DIMOO, LuLu, CBB, Farmer Bob, Nanci Luqian and a large number of popular IP among consumers.

Data showed that 31.11% of consumers spent less than 1,000 yuan on blind boxes in the past year, and 64.03% spent less than 5,000 yuan on blind boxes. This is closely related to the rational and practical characteristics of consumers. According to the report, female consumers born after 1995 are the main force of online shopping. In terms of occupation, mainly white-collar workers, accounting for 54.42%. Most young consumers have a good education background, the pursuit of consumption quality, but do not blindly follow advertising and marketing, living within their means, rational consumption.

Generation Z is a major consumer group in the gaming industry. According to the report data of Jingdong Supermarket, consumers between 25 and 45 years old accounted for more than 75% of the people who bought tide games in Jingdong supermarket in 2021.

In addition, Generation Z, mainly the post-1995 generation, showed strong purchasing power, accounting for more than 40% of the total. The transaction volume of blind box products purchased by Generation Z increased by 580% compared with the same period last year.

Investment analysis on development prospect of blind box industry

China's blind box industry is developing rapidly. From 2019 to 2021, the market scale of blind boxes in China has expanded from 2.5 billion yuan to nearly 10 billion yuan in 2021, with an average annual compound growth rate of nearly 75%. The latest data from enterprise Chachum shows that there are more than 5000 existing enterprises related to tide play nationwide, and nearly 2000 enterprises related to tide play are newly registered in 2021, with a year-on-year growth of 228.83%. As of mid-August, the number of newly registered games related companies in 2022 exceeded 2,000.

Blind box industry chain

Blind box industry chain has formed a complete system. Chaoplay blind box industry chain mainly includes three links: upstream IP creation and product design and production, midstream sales, downstream secondary trading and modification. The systematic industrial chain endores the blind box with professionalism and replicability, and the abundant downstream trading and modification market guarantees the active and circulation of the stock of blind boxes.

How big is the blind box market?

As an important subsegment of tide play, the blind box market will also gain rapid development. Among the blind box types preferred by Chinese blind box consumers in 2022, 51.1% of consumers will choose dolls, 50.3% accessories, 35.4% makeup, 33.9% stationery and 28.9% food.

The global retail market for fashion toys is expected to grow further to $44.8 billion by 2024, representing an annual growth rate of 17.7%. China's fashion toy retail market is growing even faster and is expected to increase to 76.3 billion yuan by 2024. The size of the domestic gaming market increased from 6.3 billion yuan in 2015 to 29.48 billion yuan in 2020, with a compound annual growth rate of 36%. The market size is expected to reach 76.3 billion yuan in 2024 and 110 billion yuan in 2030.

Blind box market development prospects

Nowadays, blind box is no longer a niche product developed by toy merchants. It has become an important marketing mode for all industries to win over young consumer groups and is gradually becoming popular.

Many experts believe that parents and schools should carry out education, administrative departments should strengthen supervision, and judicial protection should keep up with the adverse effects of blind boxes on minors. Local governments can draw on the experience of Shanghai to introduce local guidelines and norms for blind box, and on the basis of summarizing local experiences, introduce national legislation for blind box economy, so as to promote the sound development of blind box economy on the track of legalization.

The products in the blind box are very uncertain, and most of them are launched in the form of series. They become the carrier of entertainment, communication, exchange and purchase for the new generation of young people, occupying the "surprise economy", "lonely economy", "social economy" and so on. Attracted by high gross profit rate, high growth, innovative sales model and the emerging market of hundreds of billions of youth tide, capital and listed companies have stormed the blind box market, the blind box market has a broad prospect.

After the epidemic in 2022, the industry has returned to a certain degree of rationality, and the stage of consumers' curiosity for fashionable games has also ended, and they have turned to deeper consumption demand. In the post-epidemic era, Bubble Mart as the representative of the tide play leading company will set sail again.

The blind box industry report makes a detailed analysis of the development status, competition pattern and market supply and demand situation of China's blind box industry, and analyzes the opportunities and challenges faced by the industry from the aspects of policy environment, economic environment, social environment and technological environment. Also focus on the analysis of the key enterprises operating status and development pattern, and the development trend of the industry in the next few years professional forecast.

This report also reveals the potential demand and potential opportunities in the blind box market, and provides accurate market intelligence information and scientific decision-making basis for strategic investors to choose the right investment opportunity and company leaders to make strategic planning. At the same time, it also has great reference value for government departments.

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