It's everywhere you look: people carrying their beloved plushies on bags, treating them like a significant other or their ultimate "main squeeze." This phenomenon, known as "Nui-katsu" (short for "nuigurumi katsudou," or doll-related activities), has become a ubiquitous part of daily life.
Dolls are no longer just toys; they've evolved into a full-blown lifestyle culture embraced by everyone from Gen Alpha and Gen Z to adult demographics. This widespread adoption has ignited an unprecedented boom in the entire doll industry. According to market research from Tokyo Shoko Research (TSR)'s corporate database, the "Nui-katsu" market is still on a steep upward trajectory, having more than doubled its previous market performance.
Data from 34 companies primarily involved in doll sales and related services reveals a staggering trend: total revenue for 2025 (January–December) hit 84.9 billion yen, marking a roughly 1.7-fold increase from 2021's 50.4 billion yen. Final profits soared to 5.4 billion yen, nearly double the figure from just four years prior.
Beyond simply purchasing dolls, a whole new ecosystem of services has emerged, including doll outfit changes, custom clothing, professional cleaning, and specialized repair and maintenance. As more adults dive into "Nui-katsu," the market continues its massive expansion.
The "Nui-katsu" craze truly exploded in 2022. Even with the challenge of increased costs due to the depreciating yen, companies successfully absorbed the pressure through robust sales growth and strategic price adjustments. The industry maintains steady growth, with its most distinctive feature being not just rising revenue, but also remarkably stable profitability.
The driving force behind this booming doll market is none other than the ever-intensifying "Oshi-katsu" (推し活) culture, or fan activities centered around one's favorite character or idol. As anime, games, idols, and various character IPs continuously churn out new popular figures, fans are increasingly eager to purchase related plushies for companionship and collection.
This trend isn't just for the younger crowd; adults and even middle-aged individuals are now joining the phenomenon, making it no surprise that this market is viewed with such high expectations.
Even in the face of inflation and rising prices, the consistent demand fueled by "Nui-katsu" and "Oshi-katsu" continues to underpin the market's growth. Will this hot trend prove to be a fleeting fad, or will it solidify into a new, long-term consumer culture? Only time will tell.
Note: Financial figures and earnings forecasts should be confirmed through the company’s official announcements.
via： 東京商工リサーチ