The global collectible card games market is expected to grow at a CAGR of 13.67% during the forecast period, i.e., 2017–2029.
Collectible card games have been around for a long time. However, the most considerable growth in the market is witnessed with millennials' rise. The growing disposable income of the millennials is expected to increase the collectible card games demand during the forecast period. Since millennials grew up playing these games, they naturally have a stronger affinity towards these games. Millennials are more interested in unique goods, making the one-of-a-kind trading card more attractive. The rise in millennial spending and the fact that millennials outnumber baby boomers is expected to continue to propel the collectible card game market forward in the next six years.
Millennials, defined as those aged 26 to 40, account for over a quarter of the global population. The eldest millennials, who are around 40 years old, are no longer taking their initial steps on the career ladder and are advancing in their positions. Their increasing seniority is reflected in their earnings, with the average millennial estimated a 3.2% increase in 2020. For older Millennials, ages 36-40, the percentage jumped to 3.4%.
Despite rising costs, millennials are investing to the highest possible standard for the long term. Young millennial vocational employees (on average, 31 years old) continue to spend heavily in their continued skill development as they attempt to further their careers in an increasingly competitive employment market. According to the data, this age group's education spending is predicted to increase by 7.6%, compared to an average of 3.9% for all other age groups.
The COVID-19 pandemic has created an opportunity for wearables to support the seamless amalgamation of telemedicine. In 2020, researchers from Rockefeller Neuroscience Institute stated that a wearable sleep and activity tracker, namely Oura ring, can measure vital signs to predict COVID-19 symptoms such as breathlessness, cough, and fever up to three days. Recently, Fitbit (Alphabet Inc.), a wearable leader, declared that its wearable identified around 50% of COVID-19 cases a day before patients reported any symptoms.
Wearable devices play a crucial role in health care by predicting certain disorders by incorporating essential vital signs with clinical symptomology. The research studies related to wearable devices to combat COVID-19 disease have been ramped up, and it, in turn, could pave the way for coming obstacles.
The collectible card game market is ever-growing, and with the latest generation of cards, it's been even easier to reach users. Collectible Card Games (CCGs) are a great investment opportunity for those who love art and cards. Some of the most popular CCGs today only cost a few dollars to get started.
Once hooked, one can spend hundreds upon hundreds of dollars on these games. The stakes keep getting higher, and the card designs are more intricate. Some of the most popular CCGs today include Magic the Gathering and Yu-Gi-Oh. Several users are investing their money into collectibles to have an asset that will help them in the future. People are trying to find new ways to invest their money to see a return. Today, trading cards are becoming very popular in the trading world, and people are looking for ways to collect cards. Due to this, many people are investing in cards to see a return on their investments.
Before the coronavirus outbreak, the collectible card game market was witnessing a steady rise in popularity. The market was seeing a huge boom due to the craze of the Pokémon TCG after the launch of AR-based Pokémon Go. This was also driven by the characters on television with the popularity of TV shows. Cards moved the collectible card games market from the Pokémon series more than any other product. These games involve trading and reselling rare and hard-to-find cards for profit. It was initiated as a hobby by fans, which unlikely became a second source of income for several millennials. The cards, the boxes they come in, and even the dice and other accessories that come with the cards can be worth money down the line.
Post COVID-19 pandemic, the demand for the collectible card game has increased due to the popularity of games during the pandemic time; many people are looking to opt for newer trading card games. The post-COVID-19 also saw the revival of physical card trading games. Furthermore, many people see it as an excellent investment and an excellent way to make money. Some collectible cards can be sold for hundreds of dollars. The newest trend in trading cards is the ones that are linked to apps. They are only available in digital form, but they are still valuable because of the app's demand. The most popular ones are the ones linked to popular TV shows.
Recovering after the economic downturn due to COVID-19, various market players announced multiple plans of action to enhance the game's experience of its player base. The physical card game's growth was stagnant since the imposed lockdown, compounded by the drop in player base due to the popularity of digital games. To address this, Wizards of the Coast aimed to renew the game's player base by releasing updated rules and new card sets. They are also working with game developers who release their digital versions of the game with optimized regulations to make it easier for interested players to understand the game with the help of digital tools. These changes are expected to bring in new players, with existing players expanding their collections.
The challenge of the collectible card game market recovery is readily apparent, but there remain a few simple steps to increasing card game popularity without the need for significant changes:
The pandemic has affected the sale of the collectible card game market. The online sales were growing, but the offline sales were stopped for a short period during the lockdown. Due to the rapid spread of the COVID, various non-essential goods manufacturing units were guided to stop their production unit or work at limited resources. This led to a decrease in physical card leasing production to a broader demand-supply gap.
The global market for collectible card games is divided into two categories: type, application, and regions.
Based on type, the market is divided into digital and physical. The digital segment held a dominating share in 2020. The digital collectible card games market is anticipated to witness faster growth during the forecast period. This is attributed to the increasing internet penetration in the developing economies among the younger generation. Increased demand for digital gaming has resulted from the growing number of smartphone users with greater internet access. The increased demand for electronic gadgets with more features and apps has resulted in a better user experience, increased disposable money, and improved global economic growth. Because industrialized countries have a lot of console users and most emerging countries have a lot of smartphone users, these markets are projected to have a lot of product demand.
Depending on the product type, the collectible card games market is divided into activity monitors/trackers, smartwatches, smart clothing, hearables, and others. Among all the applications, collectible card games for mobile devices held a market share of 43.9% in 2020 and anticipated a faster growth rate during the forecast period. The high growth rate of the mobile device segment is due to the increasing development of games on mobile phone platforms. Mobile gaming has seen a significant increase in recent years as mobile users have increased. With the recent rise in tablet and smartphone users, it is expected that demand for mobile gaming will increase in the following years. The rise of mobile gaming has been fueled by augmented and virtual reality in the gaming sector.
The collectible card games market in Asia-Pacific is the largest globally and is expected to continue leading during the forecast period. There has been a shift in the industry in terms of distribution channels. In recent years, online distribution has been gaining traction in the collectible card games industry. The transition from traditional retail is mainly due to the increasing industry size and the perceived risk of theft from more prominent venues. In addition, online distribution is often more cost-effective for all parties involved. Japan is the largest producer and generates the highest revenue through this industry. The majority of policies related to the collectible card game market protect the intellectual property of game developers. However, some governments offer financial incentives to game developers to help offset the cost of developing new games. Current financial incentives include tax deductions and tax credits for game developers. These financial incentives serve as an incentive to game developers to produce localized games.
Also, the collectible card game industry in Europe has had a considerable market share in recent years. Over the years, the rising popularity of gaming has led to the increasing popularity of the Collectible Card Game market in this region. The growing popularity is due to the high penetration of the internet and smartphone. Governments in European countries are looking to place a tax on gaming supplies for collectible card games in 2020. They are looking to tax the cards to generate higher tax income through these luxurious products to aid in funding social programs.
Some of the key players in the global collectible card games market are Hasbro inc., Blizzard Entertainment, CY Games, Take-Two Interactive Software Inc., Konami, KYY Games, Bushiroad, Star Wars, Bandai, Legend Story, and Wizard of the Coast., among others.
April 2021- Hasbro, Inc. had announced a partnership with Roblox Corporation to introduce a range of Roblox-inspired NERF blasters representing some of the most popular experiences on the Roblox platform. Hasbro has released a Roblox version of its classic MONOPOLY board game for players aged 16 and up in the United States and Canada and at Big Bad Toy Shop.
November 2018- Blizzard Entertainment and Gazillion Entertainment developers had announced a partnership to introduce a brand-new collectible card game. The team's first significant game announcement is this upcoming online game, co-founded by the former developers.
June 2021- Konami Digital Entertainment Co., Ltd. announced that it had formed a business alliance with the Polish game developer Bloober Team.
August 2020- BUSHIROAD had announced a partnership with True Axion Interactive to publish their flagship mobile game, INVICTUS: Lost Soul.
October 2021 - The Pokémon Company and Universal Studios Japan had announced a long-term partnership to jointly explore groundbreaking entertainment that will immerse guests into the world of Pokémon with innovative technology and creativity beginning in 2022.
|Market Size||USD in Billion By 2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
|Segments Covered||by Device Type (Digital, Physical), Application (PC Games, Mobile Device Games, Others)|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||Hasbro inc., Blizzard Entertainment, CY Games, Take-Two Interactive Software Inc., Konami, KYY Games, Bushiroad, Star Wars, Bandai, Legend Story, and Wizard of the Coast., among others.,|
|Key Market Opportunities||Rising Demand For Collectible Card Games In Consumer Products Industry|