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What will be Lego's market share in the toy industry by the end of 2025?
3
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Below 10% • 25%
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Market research reports, industry analysis, or verified news sources
Story
Lego to Pay 60% More for Renewable Plastics in Bricks by 2032
Aug 28, 2024, 03:30 PM
Lego, the world's largest toymaker, has announced plans to replace the fossil fuels used in its signature bricks with more expensive renewable and recycled plastics by 2032. This initiative is part of Lego's broader strategy to become fossil-free, with the company already committing to making half of its bricks from renewable materials by 2026. The transition to sustainable materials involves paying up to 60% more for plastic resin, a cost that Lego has decided not to pass on to consumers. This move is underpinned by Lego's surging profits, which provide the financial backing needed for such an environmentally conscious decision. The company has signed long-term supply agreements with producers to ensure a steady supply of these materials. The CEO mentioned that the 'holy grail' Lego brick will exist in our lifetime.
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Similar markets
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Lego Fortnite • 25%
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