D. Tighe
Research expert covering consumer behavior, sporting goods retail, and the global toy industry.
Toy industry in Scandinavia - statistics & facts
The toy industry is one that grows on an annual basis and constantly evolves due to new technology and emerging trends. The domestic toy markets in Scandinavia are no different in this regard, however, the three markets analyzed do differ substantially from one another.
In general, the Danish toy consumer price index (CPI) remained somewhat stable in 2020 and 2021. As of early 2022, however, the CPI of games, toys, and hobby supplies in Denmark experienced heavier fluctuations, reaching over 108 points in May and dropping down to 102 points in August, where 2015 equals 100. The CPI measures changes in the average cost of most consumer goods and services. It also reports inflation and deflation (i.e., rising and falling prices).
Denmark
In Denmark, the number of enterprises in the manufacture of toys was significantly higher compared to other Scandinavian countries. The grand total increased from 720 companies in 2009 to more than 840 companies in 2021. That same year, there were more than 4.8 thousand people working for these toy manufacturing enterprises. Given the consistent growth rate in the past four years, the workforce may reach five thousand in 2022 or 2023.In general, the Danish toy consumer price index (CPI) remained somewhat stable in 2020 and 2021. As of early 2022, however, the CPI of games, toys, and hobby supplies in Denmark experienced heavier fluctuations, reaching over 108 points in May and dropping down to 102 points in August, where 2015 equals 100. The CPI measures changes in the average cost of most consumer goods and services. It also reports inflation and deflation (i.e., rising and falling prices).
Norway
In Norway, the number of enterprises and establishments in the manufacture of games and toys was significantly lower. Reaching a total of nearly 40, the highest number of establishments in the country was registered in 2021. This is an increase of 20 compared to a decade ago. In 2021, Norwegian manufacturers generated an estimated total revenue of 28 million Norwegian kroner through toy and games sales. The consumer price index of games, toys, and hobby supplies in Norway as an annual average was constant within this period. In 2022, it was measured at just over 112, with 2015 equaling 100.Sweden
From 2008 to 2021, the number of registered companies within the Swedish toys and games industry ranged between 200 and 260. During the period of consideration, the highest number of games and toys enterprises was recorded in 2021. That same year, the number enterprises in the toy shop industry was even higher at approximately 380. The CPI of toys grew considerably in 2022: the country's price index was measured at roughly 124 in August of that year, with 1980 equaling 100.LEGO
For years, LEGO has consistently been the top ranked toy company in the world based on revenue, ahead of companies, such as Bandai Namco, Hasbro, and Mattel. LEGO is a Danish toy production company and brand headquartered in Billund, Denmark. Besides manufacturing LEGO-branded toys, the group operates several amusement parks across the globe (e.g., LEGOLAND Resorts) as well as their own retail stores. Since 2018, the company’s average employee count increased with each and every year, peaking at almost 24 thousand people by the end of 2022. This is roughly three times the workforce recorded back in 2010.
