April 24, 2024

Growing Popularity of Arts and Crafts Drives the Washable Finger Paint Market

Washable finger paints are non-toxic, water-based paints that can be used by children to color and express creativity on paper or other surfaces. They allow kids to freely explore their artistic skills without worries of cleanup as the colors simply wash away with water. Finger paints engage both sides of children’s brains by stimulating their cognitive as well as motor skills development. The tactile experience of using their hands or fingers to paint encourages self-expression, hand-eye coordination, and problem-solving abilities in young individuals. Specially formulated to be safe for use by toddlers and preschoolers, finger paints come in a variety of bright, vivid shades. The global Washable Finger Paint Market is estimated to be valued at US$ 2,363.3 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the washable finger paint market is the increasing popularity of arts and crafts activities. Crafts and activities involving painting, coloring and drawing are gaining widespread acceptance among parents and caregivers as developmental play that aids kids’ overall growth. This has spurred demand for safe and non-toxic art supplies like finger paints. Furthermore, many schools have incorporated visual arts into their preschool and kindergarten curriculum to develop fine motor, cognitive and creative skills at a young age. Growing emphasis on STEAM (Science, Technology, Engineering, Arts and Math) education is also driving the adoption of finger paints. Manufacturers are launching innovative product variants with premium formulations, unique palettes and appealing packaging targeted at discerning modern consumers.

Porter’s Analysis
Threat of new entrants: Entering the washable finger paint market requires high capital investment to build production facilities and secure distribution channels. Established brands have strong brand recognition and parent trust which poses barrier for new players.

Bargaining power of buyers: Buyers have moderate bargaining power in this market as washable finger paints is viewed as everyday consumable. However, buyers can choose from multiple national and private label brands available.

Bargaining power of suppliers: Major raw material suppliers for washable finger paints include pigment manufacturers and packaging material producers. Suppliers have moderate bargaining power due to availability of substitute materials.

Threat of new substitutes: Non-toxic temporary tattoos and other craft activities like modeling clay pose minimal threat as substitute for washable finger paints.

Competitive rivalry: Major brands compete on product quality, innovation in product format like washable markers, availability through multiple sales channels and product affordability.

Key Takeaways
The global washable finger paint market is expected to witness high growth supported by rising number of preschools and daycare centers.

Regional analysis: North America dominates the global washable finger paint market currently led by the US. Asia Pacific is fastest growing market for washable finger paints attributed to increasing middle class population and willingness to spend on children educational toys in countries like India and China.

Key players operating in the washable finger paint market are Crayola LLC, Melissa & Doug, Faber-Castell, Sargent Art, Colorations, Prang, Handy Art, Amos, Okonorm, TColors, Little Brian, Eco-Kids, Doodle Hog, TBC The Best Crafts, ALEX Toys. Crayola LLC and Melissa & Doug are market leaders due to their strong brand recognition among parents and children.