The global pocket Rubiks cube market is expected to exhibit strong growth, reaching USD 314.06 million by 2030. As per the report titled “Pocket Rubiks Cube Market Size, Share & COVID-19 Impact Analysis, By Type (PVC, ABS Plastic and Others), By Application (Entertainment, Competition and Others), and Regional Forecasts, 2023-2030” observes that the market size in 2022 stood at USD 215.9 million and USD 314.06 million in 2030. The market is expected to exhibit a CAGR of 5.50% during the forecast period.
YoungJun (YJ) Launched a Highly Successful Cube
In 2022, just six months after its release, the MGC square-1 manufactured by YoungJun (YJ) has overtaken all other cubes as the most popular option. Because of its architecture, which makes it incredibly sturdy and reliable during solving, this cube works so well.
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Growing Penetration of E-commerce Platform to Boost Market Expansion
The widespread adoption of smartphones has led to a huge rise in e-commerce companies worldwide. One of the main advantages of shopping online for a customer is personalized shopping assistance and recommendations on the kinds of games like scientific games and knowledge-based games like the Rubik’s cube. Additionally, e-commerce providers allow clients to gather product information and descriptions and contrast different items on the website. Thanks to this information, customers can then select the ideal product based on the child’s age and capabilities. The expansion of online sales for pocket Rubiks cubes is anticipated to be supported by the significant uptake of internet-capable mobile devices, such as smartphones and tablets, in nations like the US, France, and Germany over the forecast period.
COVID-19 Impact to Limit the Market Growth
The governments of every nation have imposed restrictions, such as quarantine and work-from-home policies, on the market for pocket Rubik’s cubes. Due to the extended lockdown, all manufacturing facilities have been closed. Disruption of the distribution chain also had a negative effect on the market. The supply chain and production halted due to a scarcity of raw materials. The toy and gift shops could also not sell their goods or restock their shelves with new items due to the lockout. However, online shops could not fulfill the demand due to a shortfall.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the pocket Rubiks cube market plan acquisitions to improve their brand recognition globally. For instance, in 2019, an improved version of the original X-Man Volt Square-1 is the Volt Square-1 v2 M (Fully Magnetic), which was just announced. The Volt V2 has an entirely new design and many cutting-edge improvements.
List of Key Players Profiled in the Report
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