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Board Games Market Size
Board Games Market size was valued at USD 12 billion in 2023 and is anticipated to register a CAGR of over 4.5% between 2024 and 2032. Board game designers are exploring diverse themes and mechanics, catering to a wide range of interests and preferences. This includes cooperative & competitive gameplay to thematic storytelling and strategy. Board games based on popular Intellectual Properties (IPs), such as movies, TV shows, and video games, continue to be popular. Licensed games leverage existing fan bases and offer familiar themes & characters, attracting both hardcore fans and newcomers to the hobby.
Escalating strategic moves by industry participants led to a proliferation of distinctive and niche board games that may not have been produced through traditional publishing routes, amplifying the board games industry. Quoting an instance, in April 2024, Goliath received Lucky Duck Games. The collaboration permits continued investment in modern strategy games while using Goliath's global supply network to reach a global audience.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 12.4 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 5.6% |
| 2024 – 2032 Value Projection: | USD 20.2 Billion |
| Historical Data for: | 2018 – 2023 |
| No. of Pages: | 183 |
| Tables, Charts & Figures: | 232 |
| Segments covered: | Product Type, Game Theme, Age Group, and Distribution Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The board games industry has seen an escalation in creativity and innovation, with developers constantly introducing novel and diverse games. This comprises educational games, strategy games, and thematic games that serve various age groups and interests, luring an array of consumers. The integration of digital elements into traditional board games and the availability of online platforms where people play board games virtually have thrust the growth of the board games market. This hybrid model caters to tech-savvy consumers and those who prefer the convenience of digital play without losing the essence of traditional board gaming. For instance, recently, researchers in California developed a board game to train people on wildfire safety. It is an experimental game that imitates a real-life wildfire evacuation scenario.
The advent of digital gaming, including mobile apps, video games, and online multiplayer games, poses a considerable obstacle to the board games industry. Digital gaming presents immersive experiences, convenience, and often lower prices than physical board games. This competition for leisure time and entertainment spending limits the growth of the market.
Board Games Market Trends
The proliferating demand for board games is attributed to their ability to provide a tangible and tactile gaming experience that digital platforms often lack. In a world overwhelmed with screens and virtual interactions, board games provide a refreshing alternative that encourages face-to-face socialization and nurtures meaningful connections.
For instance, in May 2023, NorthStar Gaming Holdings Inc. bought Slapshot Media Inc., a Canadian iGaming marketing and managed services firm. This purchase agreement is complementary to NorthStar's online casino and sportsbook portfolio. This acquisition exhibits the resurgence of interest in board games as a response to the digital age, where people seek opportunities for offline engagement and unplugged entertainment. This desire for analog experiences, associated with the nostalgic appeal of conventional gaming, aids the thriving popularity of board games among people.
Board Games Market Analysis
Based on product type, the monopoly segment will attain a valuation of USD4.55 million by 2032, exhibiting 4.9% CAGR during the forecast period. The demand for board games, particularly within the monopoly segment, is experiencing a notable surge for several reasons. There is a growing nostalgia for traditional forms of entertainment, offering a break from screen-based activities. Monopoly board games, with their iconic gameplay and strategic elements, appeal to both seasoned gamers and newcomers alike, offering a timeless appeal. Moreover, the rise of thematic editions and innovative twists within the monopoly genre keeps the market fresh and enticing for consumers, driving interest and demand.
Based on game themes, the board games market from the strategy & war segment will procure above USD 4.51 million in 2023 and exhibit a 4.4% CAGR between 2024 and 2032. Board games are gaining popularity in the strategy and war segment due to their immersive and intellectually stimulating nature. Unlike their digital counterparts, board games offer a tangible experience, allowing players to engage in strategic thinking and tactical planning in a physical space. The strategic and war-themed board games often provide a deep level of complexity, appealing to enthusiasts seeking challenging gameplay and strategic depth. Additionally, the social aspect of board gaming enhances the experience, fostering camaraderie and friendly competition among players. With diverse themes and mechanics, board games in the strategy and war segment offer a rich and rewarding gaming experience for enthusiasts of all levels.
North America board games industry exhibits a CAGR of 4.5% from 2024 to 2032 and achieves a valuation of USD 5.53 million by 2032. The board games market in North America witnesses an upsurge because of several intertwined factors. There is a progressing societal emphasis on stimulating meaningful social interactions and face-to-face engagements, positioning board games as a tangible means of achieving this in an increasingly digital world.
Moreover, the industry's diversification to comprise niche and thematic games caters to a broad spectrum of interests and preferences, appealing to demographics. Blended with the recognized cognitive and educational advantages of board gaming, this varied appeal assists the thriving board game demand in North America.
Board Games Market Share
These vendors are investing heavily in research and development to create modern game mechanics and designs, often leveraging technological innovations such as augmented reality and app integration. Strategic collaborations with popular intellectual properties or media franchises are also common, allowing board game providers to tap into existing fan bases and broaden their audience. Additionally, smaller indie developers are carving out niches with unique and innovative game concepts, challenging established norms and bringing novel ideas to the market. The competitive landscape is potent and diverse, ushered by a constant thrust for innovation and creativity.
Board Games Market Share
Major players operating in the board games industry include:
- Asmodee Group
- CMON Limited
- Czech Games Edition
- Days of Wonder
- Fantasy Flight Games
- Goliath Games LLC
- HABA - Habermaass GmbH
- Hasbro Inc.
- IELLO
- Indie Boards and Cards
- Kosmos Verlags-GmbH & Co. KG
- Mattel Inc.
- North Star Games
- PlayMonster LLC
- Ravensburger AG
- Spin Master Corp.
- Schmidt Spiele GmbH
- USAopoly Inc.
- University Games Corp.
- Z-Man Games LLC
Board Games Industry News
- Asmodee and Equinox announced a collaboration in November 2023. The joint venture aims for a global supply of novel trading card games “altered”, featuring Gametogenic as the gaming accessories partner.
- In December 2023, University Games Corp. acquired The Learning Journey International. The Learning Journey is committed to making products that enhance kids' lives by merging fun with learning.
- In January 2024, Funko Games Assets was acquired by Goliath. Goliath also purchased Funko’s inventory of puzzles and games. Goliath and Funko have partnered to devise and supply new games.
The board games market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2018 to 2032, for the following segments:
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Market, By Product Type
- Monopoly
- Scrabble
- Chess
- Puzzles
- Card & dice
- Collectible card
- Miniature
- Others (Rummikub, Candy Land, Battleship)
Market, By Game Theme
- Strategy & war
- Sci-Fi games
- Fantasy games
- Sports
- Others (educational, historical games)
Market, By Age Group
- 2 - 5 years
- 5 - 12 years
- 12 - 25 years
- Above 25 years
Market, By Distribution Channel
- Online
- Offline
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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