May 22, 2025
Pop Mart International has surged to become one of Hong Kong’s most valuable companies, with its market capitalisation surpassing HK$300 billion (US$38.3 billion) on Thursday. This achievement places the toymaker among the top 27 firms listed on the Hong Kong stock market. South China Morning Post reports that Pop Mart’s shares rose by as much as 6 per cent to a record HK$229, before closing at HK$223.20, marking a 3.3 per cent increase for the day.
The Beijing-based company owes its rapid ascent to the popularity of its trendy characters, especially the Labubu series, which has captured the imagination of Generation Z globally. According to IndexBox data, Pop Mart’s global revenue is projected to increase by over 150 per cent this year, with a compound annual growth rate of 42 per cent anticipated through 2027. The Labubu series alone is expected to generate a gross merchandise value of 14 billion yuan (US$1.9 billion) within two years.
Investment banks are optimistic about Pop Mart’s future. JPMorgan Chase has initiated coverage with an overweight rating and a price target of HK$250, the highest among 43 analysts. China Galaxy International and Morgan Stanley have set their targets at HK$249.60 and HK$224, respectively. Morgan Stanley notes that Pop Mart’s expanding supply chain in Vietnam and the acceptance of price increases by American consumers are positive indicators for the company’s resilience, potentially offsetting the impact of US tariffs.
Source: IndexBox Market Intelligence Platform
This report provides an in-depth analysis of the toy market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Prodcom 32401100 – Dolls representing only human beings Prodcom 32401200 – Toys representing animals or non-human creatures Prodcom 32401300 – Parts and accessories for dolls representing only human beings Prodcom 32402000 – Toy trains and their accessories, other reduced-size models or construction sets and constructional toys Prodcom 32403100 – Wheeled toys designed to be ridden by children (excluding bicycles), dollsProdcom 32403200 – Puzzles Prodcom 32403920 – Toy musical instruments and apparatus, toys put up in sets or outfits (excluding electric trains, scale model assembly kits, c onstruction sets and constructional toys, and puzzles), toys and models incorporating a motor, toy weapons Prodcom 32403940 – Other toys of plastics Prodcom 32403960 – Toy die-cast miniature models of metal Prodcom 32403990 – Other toys n.e.c.
Country coverage:
Data coverage:
Market volume and valuePer Capita consumptionForecast of the market dynamics in the medium termTrade (exports and imports) in ChinaExport and import pricesMarket trends, drivers and restraintsKey market players and their profiles
Reasons to buy this report:
Take advantage of the latest dataFind deeper insights into current market developmentsDiscover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
How to diversify your business and benefit from new market opportunitiesHow to load your idle production capacityHow to boost your sales on overseas marketsHow to increase your profit marginsHow to make your supply chain more sustainableHow to reduce your production and supply chain costsHow to outsource production to other countriesHow to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
KEY FINDINGS
MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Key Findings In 2024
Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
Imports, In Physical Terms, By Country, 2012–2024
Imports, In Value Terms, By Country, 2012–2024
Import Prices, By Country, 2012–2024
Exports, In Physical Terms, By Country, 2012–2024
Exports, In Value Terms, By Country, 2012–2024
Export Prices, By Country, 2012–2024
LIST OF FIGURES
Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
Market Volume Forecast to 2035
Market Value Forecast to 2035
Products: Market Size and Growth, By Type
Products: Average Per Capita Consumption, By Type
Products: Exports and Growth, By Type
Products: Export Prices and Growth, By Type
Production Volume and Growth
Exports and Growth
Export Prices and Growth
Market Size and Growth
Per Capita Consumption
Imports and Growth
Import Prices
Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Imports, In Physical Terms, By Country, 2024
Imports, In Physical Terms, By Country, 2012–2024
Imports, In Value Terms, By Country, 2012–2024
Import Prices, By Country, 2012–2024
Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
Exports, In Physical Terms, By Country, 2024
Exports, In Physical Terms, By Country, 2012–2024
Exports, In Value Terms, By Country, 2012–2024
Export Prices, By Country, 2012–2024