Online revenues from toys and hobby and DIY-related products worldwide are set to hit $780 billion in 2023. This makes it the third-largest online shopping category this year, following fashion and electronics.

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 September 2023, the California-based company has a market capitalization of $7.9 billion, a 25% 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 $2.8 billion, less than half of Mattel’s. The Canadian company’s value has risen by 10.7% 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 $380 million. Like Mattel and Spin Master, Build-A-Bear’s market cap has grown since the end of 2022, but at a slightly slower rate of 8.6%. 

Build-A-Bear is followed close beyond by Funko, a toy company best known for its pop culture collectibles. It’s currently valued at $360 million. Another US toy company, Jakks Pacific, is in fifth place, with a market cap of $190 million. China’s Blue Hat rounds out the list of the largest toy companies. Its current worth is estimated at $14.3 million. 

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

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