The Plastic Toy Storage Market is estimated to be valued at US$ 4.53 Bn or Billion 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:
The plastic toy storage market mainly includes products like boxes, bins, racks, cabinets etc. made of plastic materials like HDPE or PP which are used to neatly organize and store toys and other play items of kids. Plastic storages are highly durable, affordable and customizable in sizes, shapes and colors. Wide range of plastic toy storage solutions cater to toys categorization based on types, age-appropriateness or developmental stages.
Market Dynamics:
The growth of the plastic toy storage market is driven by increasing number of working parents, rising inclination towards safety of toys and organized toy storage. Working parents tend to focus more on safety, hygiene and organization of toys to avoid clutter and keep kids engaged constructively. Plastic toy storage units aid in safely categorizing toys by type, educational themes, colors etc. This helps kids in independently selecting toys matching their preferences and developmental needs. Moreover, plastic materials used prevent rusting, corrosion and are easy to clean compared to wooden storage options. Strong and lightweight construction of plastic storages make them portable and ideal for small spaces.
Segment Analysis
The global plastic toy storage market is dominated by the molded plastic bins and boxes segment as these provide sturdy, convenient and affordable storage solutions for toys. Molded plastic bins and boxes ensure the safety of toys and prevent damage, which makes them a preferred choice among parents. Their airtight and leak-proof lids keeps toys organized and dust-free.
PEST Analysis
Political: There are no major political risks impacting the plastic toy storage market currently.
Economic: The rising disposable incomes and growing middle-class population is fueling the sales of advanced plastic toy storage products across regions.
Social: Smaller household sizes and working parents driving the need for efficient storage solutions to keep homes organized and tidy for kids to independently access toys.
Technological: Advancements in plastic molding technologies have enabled manufacturers to design innovative storage solutions that are sturdy, customizable and easy to clean.
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 purchases of ready-to-assemble furniture and storage units for playrooms and kids’ bedrooms.
Regional analysis: North America is currently the largest as well as the fastest growing regional market for plastic toy storage due to high spending ability of consumers and technological advancements. The rising infrastructure and increasing number of nuclear families are propelling demand in the region.
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. IKEA is a leading player owing to its affordable pricing and range of easy assembly plastic boxes, drawers and cabinets for toy storage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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