The worldwide sales of toy bag market in 2023 generated a revenue of around US$ 104.1 million. The global toy bag market value could rise by a 3.6% growth rate annually between 2024 and 2034. Following this moderate CAGR, the overall market is projected to reach US$ 153.6 million by 2034, growing from US$ 107.7 million in 2034.
Playroom storage accessories, like toy bags, offer a space-saving alternative to keep toys organized. The product has become necessary given the limited space in modern residents, especially in cities. The product also provides a convenient way to transport toys to parks, picnics, or family vacations.
Increasing priority for organized living spaces with the growing urbanization and compact house designs has increased the demand for toy storage bags in recent years. In addition, toy storage bags’ ability to serve several purposes renders them a desirable and useful option for households seeking adaptable storage options at hand.
Kids’ use of fun and functional storage for toys is also considered a habit-forming activity that can enhance their sense of order and personal growth. Toy storage bags are a helpful option for families on a trip or traveling because many of them are made to be readily portable.
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“Though the global demand for toy bags has emerged as a niche market, certain trends and environmental regulations have transformed the business orientation of market players. Toy storage bag manufacturers can uphold such ideals by using robust, recyclable, and ecologically friendly materials,” – FMI analyst.
Key Takeaways from the Global Toy Bag Market Study Report
- The United States is presently the leading market for sales of toy bags, and the sales are projected to rise at 3.8% CAGR through 2034.
- Production of toy storage bags in Germany is poised to witness a year-on-year growth rate of 3.1% from 2024 to 2034.
- China currently dominates the regional toy bag market in Asia and is likely to witness an annual growth rate of 4.5% during the forecast years.
- The demand for toy bags is growing remarkably in India these days, and during the forecast years, it is anticipated to advance at 5.8% CAGR.
Competitive Landscape for Toy Bag Market Players
The global market of toy bags is gradually becoming diversified and competitive with the emergence of new market players in Asia. Moreover, the recent entry of traditional bag manufacturers in this sector to expand their manufacturing facilities has also increased the number of market participants.
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Recent Developments by the Toy Bag Manufacturing Industries
In July 2022, Vandoona Company introduced its new product line of clear toy storage and organization mesh bags in India. The product is available in 16 color-coded toy bags with drawstring closure type. The unique feature of this product is that it is made up of a washable mesh net and comes in different sizes as per the buyer’s requirement.
In January 2023, Polka Tots Company released multipurpose canvas storage bins with large capacity and attractive prints to the market. It can be used as a toy basket and organizer and is lightweight, which makes it easy to handle. The company also claims that the chic pattern design makes the product perfect for keeping in bookcases, cubbies, and shelves.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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