Plastic toy storage refers to plastic containers, bins, racks and cabinets that are used to neatly store and organize a collection of toys. Plastic is a preferred material for toy storage as it is durable, lightweight and affordable. Plastic toy storage products come in various shapes and sizes to accommodate different types of toys such as blocks, arts & crafts supplies, dolls, vehicles and games. They help keep toys organized by category, prevent loss of small toys and protect toys from damage. The global plastic toy storage market is gaining traction with growing demand from toy retailers, manufacturers and households.
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 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. Growing demand from online retailers and toy manufacturers is a major factor propelling market growth. Advancements in plastic material science and manufacturing technologies have allowed producers to develop toy storage options that are sturdier, customizable and more aesthetically pleasing.
Market Trends
The Plastic Toy Storage Market Demand is witnessing notable trends such as an increasing use of recycled plastic materials and multi-functional toy storage products. Leading manufacturers are focusing on utilizing recycled plastic resins and waste to manufacture toy storage bins, shelves and drawers. This helps address environmental concerns and appeal to eco-conscious consumers. Furthermore, producers are designing versatile toy storage amenities with movable parts, stacking abilities and dual usages to maximize available storage space and play value. For example, storage cubes, benches and shelves that double up as seating during playtime.
Market Opportunities
Rising demand for personalized toy storage and expansion in developing markets present key growth opportunities. Customization options allowing consumers to choose colors, prints and divider styles as per their themes allow them to reflect personality. Meanwhile, improving standards of living and growth of organized retail in developing Asian countries like India and Indonesia will drive new sales in the coming years. Improving accessibility through e-commerce and multi-brand stores can further aid market penetration.
Impact of Covid-19 on Plastic Toy Storage Market
The Covid-19 pandemic has significantly impacted the plastic toy storage market globally. During the initial lockdown phases in 2020, the market witnessed a decline as manufacturing facilities were temporarily shut down. Supply chains were disrupted which led to delays in deliveries and shortage of raw materials. With people confined to their homes due to lockdowns and social distancing norms, the demand for plastic toys and storage containers increased sharply as parents looked for ways to keep their kids entertained. This surge in demand could not be met immediately due to production halts.
As economies are reopening in a phased manner post lockdowns, the plastic toy storage market is showing signs of recovery. Manufacturers are operating at near-full capacities while adhering to safety guidelines. The demand continues to be high as children continue spending more time at home for remote schooling and social interactions. Several manufacturers focused on expanding production capacities and switched to producing essential toys and storage needed during the pandemic. The production of eco-friendly and non-toxic toys also gained traction.
Going forward, the market is expected to grow at a steady pace. Manufacturers would focus on developing innovative, durable and affordable products suitable for today's digital lifestyle. Sustainability will be a key area of focus to cater to the growing demand for green products. Adopting advanced technologies and automation can help boost productivity while maintaining safety standards. Establishing resilient supply chains will remain crucial.
North America has emerged as the largest regional market for plastic toy storage, accounting for over 40% of global demand in value terms. Factors such as high disposable incomes, busy lifestyles driving the need for storage solutions and high preference for Western brands have contributed to North America's leading position.
However, Asia Pacific is projected to be the fastest growing region during the forecast period on account of rapid economic development, growing middle class, increasing consumer spending on children goods and presence of major manufacturing hubs and consumer markets such as China and India. The availability of cost-effective labor and raw materials provides an added advantage to manufacturers based in Asia Pacific. The region offers promising growth opportunities for plastic toy storage market players.
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