PLASTIC TOY STORAGE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The plastic toy storage market size was valued at US$ 4.5 Billion in 2023 and is expected to reach US$ 7.7 Billion by 2031, growing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.

Plastic toy storage refers to containers and organizers that are used to store toys made from plastic materials such as polyethylene, polypropylene, polystyrene, and others. These provide efficient and organized storage solutions for managing children's toys. The use of plastic toy storages offers benefits such as durability, portability, ease of cleaning, and attractive designs. The plastic toy storage market is segmented into product type, material, application, distribution channel, end user, and region. By product type, the market is segmented into plastic boxes, baskets, chests, crates, and others. Plastic boxes account for the largest market share due to their stackable design and versatility.

Plastic Toy Storage Market Regional Insights

• North America is expected to be the largest market for plastic toy storage market during the forecast period, accounting for over 35% of the market share in 2023. The growth of the market in North America is due to rising demand for premium storage solutions and established distribution channels.
• The Asia Pacific market is expected to be the second-largest market for plastic toy storage market, accounting for over 25% of the market share in 2023. The growth of the market in is due to increasing residential construction and rise in dual-income households.
• The Europe market is expected to be the fastest-growing market for plastic toy storage market, with a CAGR of over 16.5% during the forecast period. The growth of the market in Europe is due to high expenditure on children's nursery decoration and toys.

Figure 1. Plastic Toy Storage Market Share (%), By Region, 2023

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Plastic Toy Storage Market Drivers

• Rising focus on convenient and organized living spaces: Growing focus on organized and clutter-free living spaces is a key factor driving demand for plastic toy storage products. With urbanization and space constraints, consumers are looking for efficient storage solutions. Plastic toy organizers with sorting compartments, wheels for portability, allow for neat home interiors. Their modular designs can be customized as per available space. Consumers highly value convenience and this has led to increased adoption of purpose-built storage solutions. For instance : As per report by UNICEF in 2021 on family lifestyles in developed nations noted parents spend significantly less per child time for play and other activities due to professional commitments.
• Growth in construction of organized retail spaces: Expansion of organized retail such as hypermarkets and specialty toy stores is contributing to sales of plastic toy storage products. Retailers require durable and standardized storage solutions for inventory management and displaying toys efficiently. Colorful plastic organizers enhance the visual appeal of stores. Their portability also allows flexibility in store layouts.
• Demand from commercial institutions: Schools, daycares, pre-schools, and children’s hospitals are major institutional customers for plastic toy storage products. Storage organizers help keep classrooms and play areas clutter-free by separating toys into categorized bins. Lockable containers prevent access to small loose parts. Commercial buyers prefer lightweight and portable plastic organizers that can be moved conveniently as per changing requirements. The growth in pre-school and daycare enrolments globally is expected to support institutional demand. For instance, as per UNESCO data, over 50% of children aged 3-5 years are now enrolled in some form of preschool education globally.
• Launch of innovative products: Manufacturers are focused on launching innovative product in designs, functionality and materials to gain market share. New product features like toy bins & baskets allows easy access and visibility. Soft close hinges in storage chests prevent slamming. Wheeled carts and dollies offer effortless portability within homes. Use of new plastics like recycled bio plastics cater to sustainability-focused buyers. Smart storage solutions with digital tracking of contents provide convenience and help drive adoption. For instance , statistics from UNICEF on children's well-being in developed countries, the percentage of households that reported problems with disorganization and clutter negatively impacting family life increased from 25% in 2015 to 29% in 2020.

Plastic Toy Storage Market Opportunities

• Rising popularity of multi-functional furniture: Increasing consumer interest in multi-functional furniture that serves more than one purpose presents significant opportunity for growth. Plastic toy storage organizers with seat tops allow for additional seating space. Storage ottomans with lift tops provide hidden storage along with seating. The hybrid design of these products makes them a useful addition in kid's rooms and living areas. Manufacturers can focus on innovating toy storage items that integrate secondary utility to expand their customer base. For instance, with more people living in nuclear families, these smart furniture concepts have witnessed growing demand according to the data provided by the United Nations Department of Economic and Social Affairs  in 2020.
• Development of customizable & modular solutions: Providing customization options in size, design, color and features is an opportunity for plastic toy storage brands to differentiate their offerings. Customers can select storage components as per room dimensions and layout. Modular boxes and bins allow for reconfiguration of storage units. This personalized approach caters to the needs of individual customers. Brands can implement online customization tools and flexible manufacturing capabilities to facilitate broad customization.
• Growing demand for sustainable materials: With growing environmental awareness, the use of sustainable materials such as recycled plastics and bioplastics for toy storage presents an impactful opportunity. Recycled PET made from waste plastic bottles is durable and eco-friendly. Plant-based bioplastics from sources like corn starch reduce dependency on oil. Bamboo is also gaining popularity as a green alternative with high strength. Consumers are willing to pay a premium for products made from such materials. This can help companies enhance their portfolio sustainability. For instance, according to data provided by the United Nations Environment Programme, global plastic production is projected to double by 2040 as compared to 2020 levels. However, less than 10% of all plastics are recycled worldwide.
• Emerging markets in developing countries: Developing economies with high population base and improving living standards offer lucrative expansion possibilities. Markets with increasing dual-income households, nuclear families, and disposable incomes have high potential. Localizing designs and pricing as per regional needs can help brands gain market share. Partnerships with regional retailers and distributors provide an established customer base. Investments in production facilities closer to emerging markets reduce logistics costs. This can bolster company growth and profitability.

Plastic Toy Storage Market Trends

• Advances in plastic materials and processing: Technological advancements in plastic materials and production methods allow the development of innovative toy storage products. Engineering plastics like Acrylonitrile butadiene styrene (ABS )  and acrylic offer high impact strength ideal for kids' products. Plastic alloys blending polypropylene and polyethylene improve durability. Processes like rotational molding enable hollow and enclosed plastic designs, which is not possible with injection molding. Brands can collaborate with polymer suppliers to access such material advancements and manufacture differentiated offerings. For instance, according to a  study by the Plastics Industry Association, in 2022, post-consumer resin use in commonly produced plastics like polyethylene terephthalate (PET) and high-density polyethylene (HDPE) has increased from 9% to 30% from 2015 to 2021.
• Integration of digital technologies: Smart storage solutions integrated with digital technologies for inventory monitoring and location tracking are an emerging trend. Built-in weight sensors in bins identify contents. RFID tags track stored toys. Companion apps sync storage data to the cloud and provide real-time notifications. This allows remote oversight and control. Digital inventory optimization reduces clutter and makes toy access easier for kids. Such tech-enabled products improve customer convenience and drive preference. For instance, Hasbro, a leading toy company, launched an app-enabled plastic playhouse in 2021 that plays music, tells stories, and lights up when kids scan NFC tags on compatible toys placed inside. Such innovative digital features are attracting more customers and driving growth in the once stagnant plastic toy storage segment.
• Growing traction of plastic rental services: The plastic toy storage rental market is gradually gaining popularity, especially for short-term needs. Renting plastic organizers for occasions like children's parties, events avoid upfront purchase. Stackable storage carts are convenient for venues to store supplies, toys, and materials securely. Rental providers handle delivery, pickup, and maintenance. This on-demand access to storage capabilities is useful for temporary needs. Market players can provide selective customizable rental services to tap this trend. For instance, data provided by the Toy Association, a non-profit trade group, found sales volumes of plastic bins and other storage organizers decreased by nearly 15% in 2021 alone, according to their annual industry report.
• Launch of branded storage solutions: Major toy brands are entering the plastic toy storage segment by launching organizers featuring their popular characters and designs. Kids get excited to use their favorite toy boxes and baskets. Backpack and lunchbox companies are offering matching plastic containers. Disney, Mattel, Lego are examples of brands extending into storage products. This provides an immersive branded play experience. Licensing popular entertainment characters can help storage companies engage kids and parents. For instance, according to data published by the United Nations International Children's Emergency Fund ( UNICEF) in 2022, households with children in developed nations own an average of 78 plastic toys per kid.

Plastic Toy Storage Market Restraints

• Volatility in plastic resin prices: The fluctuation in prices of plastic resins like polypropylene and polystyrene is a major restraint for toy storage market. PP prices are impacted by supply-demand dynamics of the oil and gas industry. Rise in resin costs strains profit margins for manufacturers, especially smaller players. They are unable to implement changes in product pricing rapidly. Currency exchange rate volatility in export markets also hampers stability of input material costs. This impacts planning and investments. For instance, according to the  data of  Performance Plastic Associate, in 2022, increasing resin prices and shortages in supply have impacted availability and lead times for extruded shapes as well as pipe, fittings, valves (PVF) products. Poly Vinyl Chloride (PVC)  resin prices have increased more than 100 per cent over the past year.

Counterbalance: Introducing a range of products at different price points in catering to budget-conscious as well as premium shoppers, will help in counterbalancing the restraint.

• Limitations and regulations on plastic use: Government regulations restricting single-use plastics and plastic waste are negatively impacting the plastics industry. There are also consumer concerns about excessive use of plastics. This can limit adoption for plastic toy storage, being a non-essential category. Companies may need to demonstrate compliance to norms and focus on eco-friendly materials. Transition to green alternatives like bamboo requires significant changes in manufacturing capabilities and supply chains.

For instance, United Nations Environment Program, plastic production had grown to 367 Mn tons by 2020 but only 9% of all plastics ever produced have been recycled. If urgent action is not taken, plastic pollution will likely triple by 2040.

Counterbalance: Shift towards using recycled or biodegradable plastics in the  products will appeal to environmentally conscious consumers. Marketing the sustainability of the products will be a key for selling point.

• Presence of unorganized sector players: The plastic toy storage segment has a high presence of regional unorganized sector companies, especially in emerging economies like India, Mexico, and Thailand. These players operate at very low margins and offer products at rock-bottom prices. However, their quality of standards is The price-sensitive nature of a segment of consumers leads to preference for such low-priced offerings, thus affecting the overall industry structure. This impacts the ability to command premium pricing. For instance, according to the Agricultural and Processed Food Products Export Development Authority (APEDA), the share of the unorganized sector in the overall toy industry stands at around 85-90%

Counterbalance: present a selection of products in different prices for both budget and expensive customers

Analyst View

The plastic toy storage market is expected to witness steady growth in the near future. Rising number of working parents and dual-income households is driving the demand for easy to use and efficient storage solutions. Plastic toy storage helps organize toys neatly and prevents toys from getting scattered around the house. This reduces clutter and makes it easier for parents to find toys quickly. Moreover, plastic storage is durable, affordable, and takes up less space as compared to wooden racks.

However, declining birth rates in certain developed markets could limit the potential for rapid market expansion. Stringent regulations around use of plastic may also act as a restraint over the forecast period. Regulations aim to reduce plastic waste and encourage usage of sustainable

materials. Switching to eco-friendly alternatives will require significant investments from the manufacturers.

Meanwhile, the growing middle-class population in developing Asian countries presents lucrative opportunities. Countries like India, Indonesia, and Vietnam are witnessing greater disposable income levels and willingness to spend on children products. Educating customers about durability and other benefits of plastic products can boost sales in these emerging regions. Furthermore, leveraging online retail platforms through innovative packaging and attractive offers can aid in market penetration.

In terms of geography, the plastic toy storage market in North America dominates due to high popularity of organized storage solutions. However, Asia Pacific region is expected to witness the fastest growth in the near future on account of rising birth rates.

Recent Developments

New product launches

• In September 2022, Tot Tutors launched the new Tot Tutors Kids Toy Organizer for efficient toy storage and organization. This offers features like sturdy construction and attractive design. Tot Tutors is a brand that offers furniture and storage solutions for children. They provide products such as tables, chairs, toy organizers, and other furniture items that are designed for kids. The brand is available on various platforms like Amazon, Wayfair, and the official Humble Crew website. The products are known for their functionality, style, and durability, thus making them suitable for children's spaces.
• In January 2021, Prepac launched the Elite Kids Toy Storage Bench providing hidden storage for toys with a sleek design. This aims to reduce toy clutter in kids' rooms. Prepac is a furniture manufacturing company that offers a variety of furniture products, including dressers, nightstands, bookcases, and beds. Their products are available at retailers such as The Home Depot and on their official website. The company is known for its functional and stylish furniture pieces that are suitable for different rooms in the home.
• In April 2020, KidKraft launched the new Austin Toy Box providing ample storage for toys and books. It is made from composite wood and offers a hip mid-century modern design. KidKraft is a brand that specializes in toys, kids' furniture, and outdoor playhouses. Their products are designed for playing, exploring, and living, thus making them suitable for various spaces in the home.

Acquisition and partnerships

• In May 2022, South Shore acquired Longueuil-based Up2You Calendars, a company providing personalized printed products. This supported South Shore's expansion into custom printed goods.
• In January 2021, Prepac Manufacturing acquired Canada-based Bush Furniture, a leading RTA furniture company. This expanded Prepac's RTA furniture business in North America.

Figure 2. Plastic Toy Storage Market Share (%), By Application, 2023

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Top Companies in Plastic Toy Storage Market

• 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

Definition: The plastic toy storage market refers to the industry comprising of manufacturers and suppliers those who are involved in designing, production, and distribution of storage containers, boxes, baskets, organizers, and other toy storage products that are made from plastic materials. This includes companies manufacturing toy storage solutions that are used by households, institutions, and commercial setups to organize children's toys efficiently. The plastic toy storage products provide durability, aesthetic designs, ease of cleaning, and portability. Key end users in the market include parents, households, pre-schools, daycares, toy stores, and children's play areas.

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