Increasing adoption and demand for trash bags from households is driving the overall growth of retail trash bags market.
The global trash bags market is estimated to be valued at USD 9.5 billion in 2019 and is projected to reach USD 12.1 billion by 2024, at a CAGR of 4.9% from 2019 to 2024. Due to awareness regarding hygiene and favorable government initiatives for efficient waste management, the consumption of trash bags is expected to remain high in these regions for the forecast period. For instance, in India, the implementation of strict laws for the management of waste has resulted in the timely collection of waste from households. This has supported an increase in the consumption of trash bags in this geography. Similar initiatives in other emerging economies are expected to maintain the high consumption of trash bags from the retail segment.
The star sealed segment of the trash bags market is projected to grow at the higher CAGR during the forecast period
Based on type, the star sealed segment is projected to grow at the higher CAGR between 2019 and 2024. Star sealed bottom bags are considered to be environment-friendly, as these can reduce plastic waste by up to 25% due to the use of recycled plastic. Furthermore, their unique design structure helps prevent leaks, messes, and spills, and are easily conformable to trash cans of all sizes. The design structure of these bags illustrates their flexible nature and enables holding dry as well as wet waste. Besides their flexible nature, star sealed trash bags have high waste carrying capacities and maintain equal distribution of weight and are considered user-friendly.
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Asia Pacific is the fastest-growing regional segment in the global trash bags market
The trash bags market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. The market in the Asia Pacific (APAC) region is growing rapidly. This region is home to some of the leading consumers of trash bags globally, such as China, Japan, South Korea, and India. Rising urbanization and industrialization are driving the consumption of trash bags for retail applications, which is growing at a significant rate, and the same trend is expected to continue in the coming years. Dense population and growing per capita incomes in this region, along with government initiatives, are major factors driving growth of the market. Increasing construction activities, rising populations, and growth in disposable incomes are some of the major factors attributed to the growth of the market in the region. Countries, such as China, Japan, South Korea, India, Singapore, and Australia are majorly driving growth in the Asia Pacific region and provide considerable scope for the further development of the trash bags market.
The break-up of profiles of primary participants for the report has been given below:
- By Company Type: Tier 1-50%, Tier 2-25%, and Tier 3-25%
- By Designation: C Level-45%, D Level?-30%, and Others-25%
- By Region: Asia Pacific-25%, Europe-45%, North America-15%, Middle East & Africa-10%, and South America-5%
Major companies in the trash bags market include Berry Global Inc., (US), The Clorox Company, (US), Novolex, (US), Reynolds Consumer Products, (US), Inteplast Group, Ltd., (US), Poly-America, L.P., (US), International Plastics, Inc., (US), Four Star Plastics, (US), Cosmoplast Industrial Company (L.L.C.) (UAE), and NOVPLASTA, s.r.o., (Slovakia), among various others.
- This report defines, segments, and projects the trash bags market based on type, end use, and region. It strategically profiles key players and comprehensively analyzes the ranking of leading players in the trash bags market. It also tracks and analyzes competitive developments, such as expansions, acquisitions, new product launches, and new product developments in the trash bags market.
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- This report is expected to help market leaders/new entrants in this market by providing them the closest approximations of revenues of the trash bags market and its subsegments.
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