May 21, 2024
Plastic Toy Storage Market

Plastic Toy Storage Market Estimated To Witness High Growth Owing To Rising Disposable Incomes Of Consumers

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.

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