Plastic Toy Storage Market: Growth Driven By Changing Lifestyles Of Consumers
The demand for plastic toy storage is growing exponentially across the globe owing to increasing disposable incomes and preference for nuclear families. Parents are actively looking for innovative storage solutions that can organize toys neatly and also help kids in developing their cognitive skills through identification of shapes, colors and sorting abilities. This growing demand is enabling key players to expand their manufacturing capacities continuously and cater to a wider consumer base.
Major Plastic Toy Storage Market Demand manufacturers are focused on expanding their global footprint by establishing production plants across high potential markets including Asia Pacific, Latin America, Middle East and Africa. Asia Pacific region currently holds the largest share in the overall market owing to high availability of raw materials, cheap labor and rising consumerism driven by economic prosperity. With benefits such as easy customization, recyclability and affordability, plastic toy storage market is expected to witness robust growth over the coming years.
Market Drivers
Changing lifestyles: Rapid urbanization and increasing number of nuclear families have reduced the residential space availability in most of the developed nations. This has driven the demand for compact and space saving storage solutions such as plastic toy boxes which can neatly organize toys without occupying significant space in bedrooms and play areas.
Growth in toy industry: Continual introduction of innovative and engaging toys coupled with increasing marketing spends by toy manufacturers have augmented the sales of toys significantly over the past decade. Rising toy sales subsequently boost the requirement for toy storage solutions among parents as well.
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