May 22, 2024
Plastic Toy Storage Market

The plastic toy storage market has been growing due to the increasing demand for durable and aesthetic toy storage solutions from parents and kids alike. Plastic toy storage products such as boxes, bins, racks etc. help keep toys organized while enhancing the aesthetics of kids’ rooms. They are cost-effective and durable compared to other materials. The growing middle-class population with rising disposable incomes in developing countries has been opting for branded plastic toy storage products for improved playtime experiences of children. The Global plastic toy storage market is estimated to be valued at US$ 5.22 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period of 2024 to 2031. Key Takeaways Key players: Key players operating in the plastic toy storage market are Avient, Rubber Group, Teknor Apex, Solvay, RTP Company, Romar, AVANTOR Inc., Momentive, Kuraray Co. Ltd, Kraton Corporation, DSM, Hexpol AB, Foster Corporation, Tekni-Plex, Dow, Celanese Corporation, Biomerics, BASF, Arkema Group, ExxonMobil Corporation, Eastman Chemical Company, DuPont de Nemours Inc., and Sumitomo Rubber Industries Ltd., among others. Key opportunities: Rising demand for flexible and sustainable toy storage solutions especially in emerging economies is expected to create lucrative opportunities for players. Innovation in product design, material, and manufacturing aimed at differentiated experiences will drive further market opportunities. Global expansion: Key players are investing in expandingtheir global footprint by enhancing distribution channels and strategic partnerships especially in Asia Pacific and Latin American regions which are expected to witness high growth owing to improving spending power. Market drivers: The growing middle-class population across developing countries with increasing disposable incomes is one of the key drivers as they are opting for branded plastic toy storage products for improved playtime experiences of children. In addition, rapid urbanization coupled with rising number of nuclear families is further propelling the demand for space-efficient and organized toy storage solutions. PEST Analysis Political: The plastic toy storage market is subject to various environmental regulations on plastic usage and disposal across regions. Stringent rules around plastic waste management can affect market growth. Economic: Changes in disposable incomes influence consumer spending on toys and storage products. A rise in middle-class spending power boosts demand for premium plastic storage solutions. Social: Shifting consumer preferences towards eco-friendly materials impact product designs. Demand grows for toys made with recycled plastics and sustainable materials. Rising popularity of educational toys spurs storage sales. Technological: Advances in plastics formulation aid development of lightweight, durable, and customizable storage units. Injection molding technologies help mass-produce cost-effective designs. Innovation in click-together systems enhances usability. North America accounts for the largest share of the global Plastic Toy Storage Market Demand value due to high toy consumption and organized retail presence. The U.S. and Canada dominate regional sales with major buyers located in these countries. The Asia Pacific region is expected to grow the fastest during the forecast period. Rapidly expanding middle-class population and increasing disposable incomes in India and China are major factors driving the plastic toy storage market growth. Rising retail infrastructure and demand for educational toys also support regional market growth.

The plastic toy storage market features a wide range of plastic containers, bins, drawers, and cabinets used for organizing and storing toys in homes, daycares, and schools. Plastic materials are preferred for toy storage products due to their durability, lightweight and affordable nature. Key advantages of plastic toy storage include versatility, transparency for easy identification of toys, multiple color and design options. With growing middle-class population and urbanization in developing economies, demand for toy storage solutions is on the rise. The Global plastic toy storage market is estimated to be valued at US$ 5.22 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the plastic toy storage market are Avient, Rubber Group, Teknor Apex, Solvay, RTP Company, Romar, AVANTOR Inc., Momentive, Kuraray Co. Ltd, Kraton Corporation, DSM, Hexpol AB, Foster Corporation, Tekni-Plex, Dow, Celanese Corporation, Biomerics, BASF, Arkema Group, ExxonMobil Corporation, Eastman Chemical Company, DuPont de Nemours Inc., and Sumitomo Rubber Industries Ltd., among others.

The plastic toy storage market is expected to witness significant opportunities through the development of innovative sustainable and recyclable plastic materials. Companies are investing in R&D to introduce bioplastics made from renewable feedstock like sugarcane for toy storage products. Advancements in 3D printing also allow for customized small-batch production.

Technological developments in multi-material blending and bonding techniques allow manufacturers to combine plastics with other materials like wood and fabrics. This enhances the aesthetic appeal and functionality of toy storage solutions.

Market Drivers

The global Plastic Toy Storage Market Demand is driven by growing middle-class population worldwide who consider toy storage as an essential organizational product. Rising women workforce has also increased the demand for smart storage solutions that help parents, especially mothers to efficiently manage kid’s toys. Another key growth driver is the customization potential of plastics which allows manufacturers to launch frequent new designs and product lines. This sustains the consumer interest in plastic toy storage products.

Current Challenges in Plastic Toy Storage Market
The plastics toy storage industry faces various challenges due to the growing environmental concerns regarding plastic waste and its disposal. Stringent government regulations restricting the use of plastics is a major hurdle for market players. Developing bio-based and recyclable alternatives with comparable properties to petroleum-based plastics is also quite challenging. Maintaining cost efficiency while ensuring safety, durability and quality standards set by international toy industry organizations adds to the production complexities.

SWOT Analysis
Strength: Durable and cost-effective material for toy storage boxes. Wide availability of raw materials.
Weakness: Perceived as non-eco-friendly product. Exposure to regulations on plastic usage.
Opportunity: Developing green and sustainable material innovations. Tap into emerging markets in Asia Pacific.
Threats: Growing popularity of digital toys over physical toys. Stringent environmental laws on plastic waste.

Geographical Regions
North America accounts for the largest share of the global plastic toy storage market in terms of value due to high urbanization and consumption rates. Asia Pacific is expected to witness the fastest growth during the forecast period owing to rapid economic development, rising disposable incomes and expansion of toy manufacturers in China, India.

Fastest Growing Region
Asia Pacific region is projected to be the fastest growing market for plastic toy storage during 2024-2030. This can be attributed to growing middle class population, increasing birth rates, expansion of organized retail sector and western influence on toy culture in developing Asian countries such as China and India.

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