Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Trash Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global trash bags market has witnessed substantial growth, reaching a size of US$ 11.3 billion in 2022. This growth trend is expected to continue, with the market projected to reach US$ 17.6 billion by 2028, displaying a robust compound annual growth rate (CAGR) of 7.32% during the period 2023-2028.
Trash bags, made from polyethylene, play a crucial role in maintaining cleanliness and hygiene in various settings. They are designed to hold waste securely, offering strength, tear resistance, and protection against chemicals and moisture. These lightweight and cost-effective bags are essential for managing wet and dry waste, including food scraps, and are widely used in residential, commercial, and industrial spaces worldwide. Trash bags also find applications in storing small and loose items while keeping them waterproof.
Market Trends:
Several key factors are driving the growth of the trash bags market:
- Hygiene and Environmental Awareness: Growing awareness among individuals regarding hygiene and environmental cleanliness is a major driver. People increasingly recognize the importance of proper waste disposal and the role of trash bags in maintaining cleanliness.
- Rising Waste Generation: Rapid urbanization and a growing global population contribute to increased waste generation. Governments and regulatory bodies worldwide are promoting the use of trash bags, further fueling market growth.
- Innovation in Waste Management: Focus on new garbage bag breakdown methods and processes, as well as advancements in waste processing and transportation facilities, are positively impacting the market.
- Disease Prevention: Trash bags are crucial for storing and transporting waste without the risk of spreading diseases or infections, particularly in healthcare settings.
- Automotive Industry Demand: The automotive industry's demand for waterproof trash bags is creating new opportunities for end-users.
- Strategic Partnerships and M&A: Key market players are forming strategic partnerships and engaging in mergers and acquisitions to enhance product offerings, increase sales, and boost profitability.
Key Market Segmentation:
The global trash bags market is segmented based on type, material, size, distribution channel, and end-user.
Types of Trash Bags:
- Drawstring Bags
- Star Sealed Bags
- Others
Materials:
- High-Density Polyethylene
- Low-Density Polyethylene
- Linear Low-Density Polyethylene
- Bio-Degradable Polyethylene
- Others
Sizes:
- 3 to 13 Gallons
- 13 to 50 Gallons
- Above 50 Gallons
Distribution Channels:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
End Users:
- Residential
- Commercial
- Industrial
Regional Insights:
The global trash bags market is analyzed across regions including North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. Asia-Pacific is the largest market, driven by factors such as rapid industrialization, government policies, and technological advancements.
Competitive Landscape:
Key players in the trash bags market include Berry Global Inc., Cosmoplast Industrial Company (L.L.C.), Four Star Plastics, Inteplast Group Corporation, International Plastics Inc., Luban Packing LLC, Mapco (Pvt) Ltd., Novolex, NOVPLASTA CZ s.r.o., Poly-America L.P., Reynolds Consumer Products, The Clorox Company, and Universal Plastic Bags.
Key Questions Answered:
- What was the size of the global trash bags market in 2022?
- What is the expected growth rate of the global trash bags market during 2023-2028?
- What factors are driving the global trash bags market?
- How has COVID-19 impacted the global trash bags market?
- What are the key segments of the market based on type, material, size, distribution channel, and end-user?
- Which regions are the most significant for the trash bags market?
- Who are the key players in the global trash bags market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $11.3 Billion |
| Forecasted Market Value (USD) by 2028 | $17.6 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/p1d7pf
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