Study of Hobby Products Market Potential in India for GoodSmile

Client Overview

Goodsmile, a leading Japanese manufacturer and distributor of hobby products, is renowned for its high-quality anime and manga figures and has a strong global presence, particularly in Japan, the U.S., and Europe.​ Goodsmile planned to enter the Indian market and sought to understand the competitive landscape and identify a suitable distribution partner.​ To achieve this, Goodsmile engaged with Nexdigm (SKP) to conduct a comprehensive analysis of the hobby market in India.​

Our Approach

• Defined the hobby market for analysis, focusing primarily on movie and action figures, as well as anime and manga figures. ​
• Our market sizing analysis, which looked at both past performance and future potential, indicated that the hobby market could potentially double its market share within the next four years.​
• We conducted both primary and secondary research to evaluate major retailers and distributors, hobby events, popular hobby characters, and key OTT platforms for hobbies.
• Additionally, we performed competition benchmarking and provided brief profiles of major market players.​
• A detailed value chain analysis was also presented to the client, highlighting the margin structure of hobby products compared to toy products, from import to sale to the end customer.​

Impact We Created

• Several key insights from our analysis impressed the client in evaluating their market entry into India, including the higher margins for hobby products, the growing significance of hobby product events like Comic Con, and the major OTT platforms promoting anime movies. ​
• Additionally, the increasing interest in anime movies and series among Indian demographics is indirectly boosting the reach of hobby products. ​
• Overall, our comprehensive market research provided the client with an in-depth understanding of the hobby market in India and aided in formulating their entry strategy.​