The Global Trash Bags Market is expected to grow at a CAGR during the forecasting period (2022-2029).
A trash bag is a flexible material used to collect, store, dispose, and handle trash. Also, it has an extensive application in the distribution and transportation of litter or garbage. It is made of various materials such as high-density polythene (HDPE), low-density polythene (LDPE), liner blend polythene, medium-density polythene (MDPE), recycled polythene, metallocene polythene (mPE), degradable polythene, biodegradable polythene, woven polypropylene, and co-extruded plastic bags. Trash bags produced from these materials are low cost, hygienic, durable, leak-proof, lightweight, portable, offer resistance to water& air to meet USDA and FDA specifications, and be recycled.
According to the World Bank report 2020, the amount of global trash generated in urban areas is rising faster than the urbanization rate. On average, each person produces 1.2 kg of waste, and globally 7.4 million tons of trash are produced per day. These wastes are generated from residential and corporate areas such as schools, offices, marketplaces, restaurants, households, industries, agriculture, commercial complexes, etc.
Rising awareness regarding hygiene will increase the trash bags demand globally.
The trash bags witness a high adoption rate in the developed markets as compared to emerging economies. This is primarily attributed to the high disposable incomes in developed economies, leading to high living standards. In developed economies, such as the US, Germany, and Canada, trash bags are considered a mandatory commodity than unessential commodities in developing economies. The rapid growth in urbanization across emerging markets has led to a significant increase in the trash bags adoption rate. Continued product developments and awareness in these regions, coupled with increasing disposable incomes, are expected to enhance trash bags' consumption in the overall global market.
Trash bags are widely used in industrial, retail, and institutional areas. The high manufacturing of star-sealed bottom trash bags is majorly in demand globally due to its high durability and storage capacity features. The product development, the increasing purchasing power of buyers in developing economies, and strict government regulations coupled with awareness programs are widely increasing the demand and consumption of trash bags worldwide during the forecast period.
Increasing demand for easily recycled trash bags
Technological development influences the sales of trash bags, and changes in regulatory scenarios support the trash bags market’s growth. Consumers' evolving lifestyle, increasing health and environmental awareness, and supportive environmental policies implemented by various governments worldwide are the major factors responsible for the increasing global demand for easily recycled trash bags and, thereby, their market growth. Owing to its value-added applications, right from handling waste to transportation and trash distribution, the market for trash bags is expected to create significant change and further raise investment opportunities for companies operating in the market, especially in developing countries such as India and Mexico. Besides, the trash bags market is expected to continue to grow steadily in developed countries, wherein the consumer demand for trash storage and its management is high. The market's main growth drivers are private consumers, local packaging firms, and retailers, focusing more on delivering the local market product.
However, the trash bag market's sustainability majorly depends on new product innovations, such as bags with enhanced odor control benefits. Additionally, big and small retailers and increasing consumer preference for using cheap local products have created a highly competitive business environment for big brands of garbage bags worldwide.
COVID-19 Impact Analysis
COVID-19 pandemic has increased consumer spending across trash management and handling products due to the large consumption of retail food products. The consumption growth is due to the shutdown and lockdown policies, which focused on staying at home.
Despite the pandemic, there is a vast growth in the overall food & beverage products and trash bags, which is expected to increase the market's market global market during the forecast period.
Based on the type, the trash bags market has been classified into drawstring trash bags. Star-sealed trash bags, flat star-sealed trash bags, flat trash bags, t-shirt trash bags, zipper bags, and others.
Star sealed segment accounted for the highest market share in the global market.
In 2019, the star-sealed trash bags were estimated to lead the market with a significant market share globally, predicting the highest growth rate during the forecast period. Star-packed bottom trash bags are considered environment-friendly, as they are formed to reduce plastic waste by up to 25% with the use of recycled plastics. Moreover, its unique design structure prevents leaks, spills, and messes and is conformable to trash cans of varied sizes. The design structure of these bags illustrates their flexibility and enables the holding of dry and wet waste. Besides the elastic nature, star-sealed trash bags have high junk carrying capacities, maintain an equal distribution of weight, and are considered user-friendly.
The trash bags market has been classified into supermarkets/hypermarkets, convenience stores, speciality stores, e-commerce, and others based on the distribution channel.
Supermarkets/hypermarkets segment dominated the global trash bags market in 2020
The supermarkets/hypermarkets dominate the market globally as supermarkets/hypermarkets are very convenient and extensive. The growth of the segment is mainly due to the presence of well-recognized supermarkets/hypermarkets players. They also held exceptionally high hopes for China, India, Mexico, and other developing markets, where fast-rising consumer spending seemed to presage an unprecedented demand for gleaming new stores with large assortments and wide aisles and bright lighting.
Based on geography, the study analyzes the trash bags market in the global market, including North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.
The Asia Pacific leads the global market throughout the forecast period.
Asia-Pacific dominates the trash bags market as in China, the production and consumption of films are enormous and majorly made of trash bags. The Asia-Pacific region is anticipated to grow with forecast periods h the highest growth period due to increasing business expansion and awareness among the customers. It leads to the market's growth due to the availability of low-priced raw materials used for manufacturing trash bags. Germany is dominating the European market due to the ban on single-use plastic in the region. In the North American area, the U.S. is looming due to the increasing working-class population. With the growing awareness of clean surroundings, the demand for trash bags is growing in the region.
Trash bags market competitive landscape provides details by a competitor. Components included are company overview, revenue generated, market potential, company financials, investment in research and development, global presence, production sites and facilities, new market initiatives, company strengths and weaknesses, product trials pipelines, product approvals, product launch, patents, application dominance, product width and breadth, and technology lifeline curve. The key trash bags players which are contributing to the growth of the global market include Inteplast Group, Polykar Industries Inc., Polyethics Industries, Mapco (Pvt) Ltd, Four Star Plastics, Novolex, Reynolds Consumer Products, Berry Global Inc., NOVPLASTA CZ, The Clorox Company, Biodegradable Plastic Bags China, Weifang Kangle Plastics Co., Ltd, Foshan City Taiyang Packing Co., Ltd, Jiangxi Uleader Packing Co., Ltd., and Changle Shuguang Industry Co., Ltd, among others.
Overview: Inteplast Group Inc. manufactures plastic products. The company offers stretch films, grocery, and foodservice plastic bags, can liners, and corrugated plastic sheets. Inteplast Group serves customers in the United States.
Product Portfolio: The company's portfolio comprises yeasts stretch films, plastic concentrates, plastics film and sheet, foams, and bagging systems.
The global trash bags market report would provide access to an approx: 81 market data tables, 90 figures, and 180 pages.
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