April 21, 2024
Plastic Toy Storage Market

Plastic Toy Storage Market is Expected to be Flourished by the Growing Online Toy Retail Industry

The plastic toy storage market consists of a wide range of storage boxes, bins, drawer sets, toy boxes, and other containers that are used for organizing and storing toys. Plastic materials are widely used for manufacturing toy storage products as they are lightweight, affordable, durable and easier to clean. Plastic toy storage products come in various colors, shapes and sizes to suit different toy categories such as arts & crafts, blocks, cars & trucks, dolls & accessories, educational & learning toys, plush toys and others. These storage solutions keep toys neatly organized and allow children to easily find their toys.

The global plastic toy storage market is estimated to be valued at US$ 4.53 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing Online Toy Retail Industry: The online toy retail industry has seen tremendous growth over the past few years owing to convenient shopping experience and attractive discounts offered by e-commerce platforms. This has encouraged toy manufacturers to focus on developing more attractive and sturdy plastic toy storage products that offer better protection during shipping and transportation. Availability of a wide variety of plastic toy storage options from different brands on online retail platforms is expected to boost the market growth over the forecast period.

Need for Organized Storage: Plastic toy storage products help keep toys neatly organized in one place instead of being scattered around the house. This avoids toys from getting lost or damaged. The growing need among parents to maintain tidiness and declutter living spaces is driving the demand for effective plastic toy storage solutions. Increasing consumer preference for sturdy, practical and aesthetically pleasing storage containers is favoring the plastic toy storage market expansion.

Segment Analysis

The plastic toy storage market is dominated by four major segments. Drawers segment holds around 30% share and is dominating owing to benefits it provides such as easy access to toys and keeps them organized in drawers. Toy boxes segment accounts for 25% share due to rising demand for storage of bulk toys. Shelves segment is emerging and holds 20% share on account of multi-purpose utility for both toy storage and display. Other segments including cabinets and racks collectively hold remaining 25% share.

PEST Analysis
Political: No major political impacts seen in the market.

Economic: Rising middle class spending and economic growth in developing regions driving market growth. High disposable incomes positively impacting demand.

Social: Changing lifestyle and social trend of engaging kids in cognitive development through toys positively influencing market. Increase in number of nuclear families also favoring market growth.

Technological: Advancements in materials and designs aiding product innovation. Key players launching eco-friendly and sustainable products made from recycled plastics.

Key Takeaways
The Global Plastic Toy Storage Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising middle class spending on children toys. North America region dominates currently owing to large number of nuclear families and working parents opting for storage solutions for toys. The key regional markets in terms of growth are expected to be Asia Pacific and Middle East & Africa.

The Asia Pacific regional market is projected to be the fastest growing market during the forecast period. Factors such as growing middle class population, improvement in standards of living, increasing urbanization are driving the demand for plastic toy storage products in Asia Pacific region.

Key players operating in the plastic toy storage market are Sterilite Corporation, Rubbermaid, IKEA, KidKraft, Badger Basket, Tot Tutors, Costway, Sauder, Prepac, Honey-Can-Do, Creative Scents, Contico, South Shore Furniture, Seville Classics, Boori, Home Max, Three Posts, Langria, mDesign, Honey Can Do. Among these, Sterilite Corporation dominates owing to wide product portfolio and global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it