Online revenues from toys and hobby and DIY-related products worldwide are among the third-largest online shopping categories, making it a lucrative sector for new businesses.

To better understand the potential of this industry, we need to know who its largest players are. This starts with answering the question: What is the biggest toy company in the world?

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Top toy companies ranked by market capitalization

A recent analysis of the biggest toy companies shows that Mattel currently tops the list. As of December 2023, the California-based company has a market capitalization of $6.7 billion, a 6% increase from its value at the end of 2022.

Founded in 1945, the world’s largest toy company owns popular brands like Barbe, Hot Wheels, Fisher-Price, and UNO in its extensive portfolio. A closer look at Mattel’s market cap history shows that the company’s value peaked in 2013, when it surged by 28.8% from the previous year, to $16.1 billion. Several years of decline followed, pushing its value down. By 2018, the company’s market cap had fallen to $3.4 billion. Since then, with the exception of 2022, during which Mattel’s market value fell by 16.3%, Mattel has grown its value nearly every year. 

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The second-largest toy manufacturer is Spin Master. It has a market capitalization of $2.6 billion, less than half of Mattel’s. The Canadian company’s value has risen by 0.9% since it closed 2022 out at $2.5 billion. Mattel and Spin Master are the only toy companies whose valuation is currently in the billions.

Third on the list of the biggest toy companies is Build-A-Bear, with a market value of $340 million. Unlike Mattel and Spin Master, Build-A-Bear’s market cap has dipped since the end of 2022, by 2.4%. 

Build-A-Bear is followed close beyond by Funko, a toy company best known for its pop culture collectibles. It’s currently valued at $320 million. Another US toy company, Jakks Pacific, is in fifth place, with a market cap of $300 million. China’s Blue Hat rounds out the list of the largest toy companies. Its current worth is estimated at $61.3 million, skyrocketing from its $3.6 million capitalization at the end of 2022.

The ranking of the biggest toy companies is dominated by US firms, accounting for four out of six of them.

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