DUBLIN, Dec. 4, 2023 /PRNewswire/ — The “Trash Bags Market by Type (Star Sealed, Drawstring), Material, Size, End-Use (Retail, Institutional, Industrial), Distribution Channel and Region-Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The trash bags market is projected to grow from USD 10.6 billion in 2023 to USD 13.7 billion by 2028, at a CAGR of 5.2% from 2023 to 2028. Trash bags play a crucial role in waste management and hygiene maintenance. The need to keep waste contained and prevent it from spilling or emitting odors drives the use of trash bags in household and commercial applications. Additionally, the trash bags market is on the way to intense growth across retail, institutional, and industrial end-users.
By type, the star sealed bags segment is expected to be the largest segment of the trash bags market during 2023 to 2028.
Based on type, star sealed trash bags provide salient features, such as unsurpassed strength, large bearing weight capacity, and stretchability. Their unique design structure helps prevent leaks, messes, and spills, and is easily conformable to trash cans of all sizes. These factors are expected to drive the market for the star sealed bags segment during the forecast period.
By end-use, institutional segment accounted for the largest share of trash bags market in 2022.
The growth of the institutional segment is supported by both the creation of new consumers in emerging economies and the rising disposable incomes in developed economies. It is expected that emerging economies, such as India, Kenya, Nigeria, Brazil, Argentina, and Chile, among others, are expected to be major sources of municipal waste generation by 2050.
The trash bags market in North America is projected to witness the second highest CAGR during the forecast period.
North America is projected to register the second highest CAGR in the trash bags market from 2023 to 2028. According to the United States Environment Protection Agency (USEPA), North America is among the leading generators of garbage municipal solid waste generated globally. Strong measures undertaken by the governments to maintain clean surroundings, coupled with stringent waste management policies support the consumption of trash bags in this region.
The report provides insights on the following:
- Analysis of key drivers (rapid urbanization and economic development, rising awareness of hygiene), restraints (lack of government support, taxes and bans on the consumption of plastic bags), opportunities (increasing adoption of compostable trash bags), and challenges (environmental damage and risk to biodiversity) influencing the growth of the trash bags market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research &
development activities in the trash bags market. - Market Development: Comprehensive information about lucrative markets – the report analyses the trash bags market across varied regions.
- Market Diversification: Exhaustive information about new products, various materials, untapped geographies, recent developments, and investments in the trash bags market.
Competitive Assessment:
In-depth assessment of market shares, growth strategies and service offerings of leading players including:
- Achaika Plastics
- Allied Propack Private Limited
- Berry Global Inc.
- Cosmoplast
- Extrapack Ood
- Four Star Plastics
- Inteplast Group, Ltd.
- International Plastics, Inc.
- Kemii Garbage Bag Co., Ltd.
- Luban Pack
- Mirpack
- Navkar Plastic
- Novolex
- Novplasta
- Pack-It B.V.
- Poly-America, L.P.
- Primax
- Reynolds Consumer Products
- Ruijian Plastics Products
- Terdex
- The Clorox Company
- Tombag
For more information about this report visit https://www.researchandmarkets.com/r/unuoms
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SOURCE Research and Markets
