by 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 Overview:
Plastic toy storage products are affordable and durable storage bins made using plastic. They come in various designs and sizes to neatly organize and store different types of toys like blocks, dolls, cars. They protect toys from damage and make the play area clutter-free for children.
Market key trends:
One of the key trends in the plastic toy storage market is the rising demand for multipurpose and space-saving designs. Manufacturers are offering plastic storage bins, drawers, and racks that can be converted or adjusted to accommodate different types and sizes of toys. This allows efficient utilization of play space. Another trend is the growing popularity of plastic bins made using recyclable plastic like HDPE or PP plastic. Eco-friendly bins made from recycled plastic meet sustainability needs and appeal to conscious consumers and institutions. Demand for plastic bins in lightweight and portable designs is also increasing to facilitate easy mobility and transportation of toys during travel or visits to daycares and schools.
Market key trends:
One of the key trends in the plastic toy storage market is the growing demand for multi-functional and space-saving storage solutions. With most families living in smaller homes and apartments, there is an increasing need for toy storage products that provide flexibility and maximize available space. Manufacturers are responding to this trend by developing multi-level bins, stacking units, modular designs etc. that allow vertical and horizontal storage of toys. Customization is another emerging trend with consumers looking for storage boxes, drawers and shelves that can be customized based on the type and size of toys.
SWOT Analysis
Strength: Plastic toy storage products are affordable and durable. Plastic is a cost-effective material that withstands heavy usage by children.
Weakness: Certain plastic materials may contain harmful chemicals. Consumers are getting more conscious about eco-friendly and non-toxic products.
Opportunity: Growth in nuclear families and working parents is boosting demand for organized storage solutions.
Threats: Introduction of non-plastic alternatives like wood and metal for toy storage poses competition.
Key Takeaways
The Global Plastic Toy Storage Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing urbanization and rising middle-class population. North America is expected to dominate the plastic toy storage market over the forecast period due to high disposable incomes and presence of key players in the region.
Regional analysis:
North America is projected to dominate the market owing to increasing demand. Asia Pacific is anticipated to grow at fastest pace during forecast period owing to rising middle class population and increasing disposable income. Countries like China and India are expected to boost regional market.
Key players:
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
