"Overview of Trash Bags Market"
In 2018, the Global Trash Bags Market was valued at approximately US$ 8.95 Bn, witnessing a moderate CAGR over the forecast period (2019-2027).
The trash bags market is majorly driven by economic development and rapid urbanization worldwide. Growing hygiene awareness and a surge in penetration of disposable bags in emerging nations such as China, India, Indonesia are expected to enhance market growth over the forecast period.
Increased use of Oxo-biodegradable additives and rising adoption of compostable trash bags are expected to drive the market demand in years to come. Growing environment and health awareness among consumers, better lifestyle and a surge in government initiatives are some other key factors anticipated to enhance the market growth over the forecast period.
Trash bags market is expected to grow significantly in the developed nations owing to significant consumer demand for garbage handling and storage bags. Eco-friendly trash bags are widely adopted owing to the ban on plastics in various countries.
By Bag Type, star sealed segment is expected to witness the highest CAGR in the global trash bags market. Star Sealed bags accounted for a significant share of XX% in Global Trash Bags Market in 2018.
Star sealed segment contributed to a significant share in the global trash bags market in 2018. Star sealed segments contributed to significant share owing to their environment-friendly nature as the aforementioned bags can reduce plastic waste.
Star sealed segment is anticipated to continue its dominant position over the forecast period due to its unique design which helps in preventing spills, messes, and leaks. These bags are flexible in nature and these can easily hold different forms of waste such as wet & dry waste. These also have high capacity as compared to other alternatives available in the market. These are user-friendly that boost the demand for these bags in various countries across the globe. Rise in environmental policies across the globe is also expected to boost the growth of the market during the forecast period.
By End-use, Retail segment is projected to expand with the highest CAGR in the Global Trash Bags Market
By End-use, Retail is expected to expand with the fastest CAGR in the Global Trash Bags Market over the forecast period. The retail segment accounted for a share of XX% in the global trash bags market in 2018. The segment is projected to expand at a rapid pace owing to robust growth in the retail industry. The rapid expansion of the retail industry in the developing economies is an important factor expected to drive the segment during the forecast period. Rising urbanization and strict government regulations for waste management are some other prominent factors anticipated to enhance the segment growth in years to come. Growing awareness for effective waste management is another factor expected to drive the segment demand over the forecast period. As a result of the abovementioned factors, the segment is expected to grow at a rapid pace throughout the forecast period.
Growth prospects of Trash Bags are high in the Asia Pacific
Asia Pacific accounted for a significant share of XX% in 2018 during the forecast period.
The Asia Pacific is anticipated to grow at a rapid pace over the forecast period owing to rapid industrialization and growing urbanization in the region. Stringent government regulations for waste management and growing awareness among consumers are some important factors for the regional growth during the forecast period. The dense population, growing retail industry, and rising disposable income are vital factors expected to further drive the market in years to come. China accounted for a significant share in the Asia Pacific region followed by India in 2018. China has the highest share due to a major share in the manufacturing industry along with the highest population in the world.
In 2018, North America had accounted for a substantial share in the global trash bags market. Developed economy, early adoption of technological advancements and rising government initiatives for waste management are some factors contributing to the substantial share. Moreover, Europe is anticipated to grow at the second-fastest CAGR throughout the forecast period owing to rising single-person households in the region.
Global Trash Bags Market is very competitive with the presence of a large number of global and local/regional manufacturers. Poly-America, L.P., The Clorox Company, Reynolds Consumer Products, International Plastics, Inc, Cosmoplast Industrial Company, Berry Global, Inc., Inteplast Group, Ltd, The Clorox Company, Novolex, Four Star Plastics, Allied Plastics, and Kemii Garbage Bag Co. Ltd., are some key players operating at regional as well as country level. Mergers & acquisitions, and geographical expansion are expected to be the major strategies for the key players.
By Material Type:
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Linear Low-Density Polyethylene (LLDPE)
- Bio-degradable Polyethylene
- 3 to < 13 Gallons
- Greater Than 13 to Less Than 50 Gallons
- Above 50 Galloons
- Drawstring Bags
- Star Sealed bags
- Others (Wave top, C-fold, Flat Seal, Gusset Seal, etc.)
- North America
- Latin America
- Asia Pacific
- Middle East and Africa