For instance, the trade war between the U.S. and China, or a new United States-Mexico-Canada Agreement, or even changes in the EU, such as the Brexit outcome, can have a significant impact on the financial status of major vendors such as Hasbro and Mattel.Ĭertain political trade tensions prevailing across the globe are a cause of concern for certain manufacturing industries.
The economic impact of changes in trade relations between the U.S. Factors such as reduced access to credit, job losses, bankruptcies, low consumer confidence, and other macroeconomic factors significantly impact the demand for board games. One of the major challenges for the global board games market is the impact of global trade wars and tariffs imposed across borders. Market Disturbance Tariffs & Trade Slumps This, in turn, helps vendors cater to customers’ requirements, thus ensuring the steady growth of the board games market. The increasing popularity of board game cafes is helping manufacturers to understand the kind of games that appeal to the larger section of players. Owing to their increasing popularity, certain cafes and shops also provide snacks and drinks during games. Board game cafes are places where people play games and simultaneously engage with other gamers. Board game cafes are quite common in western European countries such as the UK, France, and the North American region. These game bars and cafes have been phenomenal success and have achieved tremendous global prominence. With the increasing number of game cafés worldwide, businesses have drawn many buyers in the past few years. For instance, "Wingspan" is a board game that features birds and their habitats, and "Gloomhaven" is a game that combines elements of role-playing games with tactical combat. Vendors are focusing on introducing new themes & mechanics to create distinct and engaging experiences. The industry has seen a lot of innovation by vendors, such as increased technology use as vendors incorporate digital components into their games to enhance the gaming experience. Innovation plays a significant role in the board games market that runs on a tight margin. Consumers’ tendency to switch to various board game products has significantly increased in the past five years.
The market is driven by the entertainment value associated with the products, and innovation in product portfolios is one of the crucial factors to sustain in the industry. The global board games market is expected to grow at a CAGR of 13.27% from 2022 to 2028
0 kommentar(er)
