The global trash bag market is poised for substantial growth, with projections indicating a value of US$ 11.3 billion by 2024 and an anticipated surge to US$ 19.5 billion by 2034. This trajectory represents a significant compound annual growth rate (CAGR) of 5.6% during the forecast period from 2024 to 2034.
Key Market Trends and Highlights
One of the primary drivers of this growth is the escalating awareness surrounding environmental concerns, particularly plastic pollution. This has spurred the development and demand for eco-friendly and biodegradable trash bags, aligning with global efforts towards sustainability.
Furthermore, stringent regulations and policies pertaining to waste management and plastic usage are expected to influence the adoption of specific types of trash bags, favoring sustainable alternatives.
Continuous innovation in materials, such as the emergence of bio-based plastics and compostable materials, presents opportunities for market expansion and diversification.
The proliferation of e-commerce and home delivery services has also contributed to heightened demand for packaging materials, including trash bags, as households generate more waste from online shopping.
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Trash Bag Market Key Drivers
- A growing global population migrating towards urban areas necessitates efficient waste management solutions, including the use of trash bags.
- The rise of economies and increasing disposable incomes in emerging markets are anticipated to drive higher consumption and demand for convenience products like trash bags.
- Changes in consumer lifestyles, characterized by an increased focus on convenience and hygiene, are influencing the demand for disposable products like trash bags.
- Advancements in manufacturing processes and technologies are poised to improve the quality, durability, and cost-effectiveness of trash bags, further propelling market growth.
Key Trends
- The integration of technology in waste management, such as smart bins and IoT-enabled waste tracking systems, is anticipated to drive the adoption of specific types of trash bags tailored for such systems.
- Customized and branded trash bags, often utilized for promotional purposes, have the potential to create a niche market, particularly within the retail and hospitality sectors.
Opportunities
- The exponential growth of online retail and the diversification of sales channels through e-commerce platforms are expected to impact packaging requirements, leading to increased demand for trash bags.
- Economic factors, including GDP growth and consumer spending patterns, are poised to influence the overall consumption of disposable products, including trash bags.
- As the global trash bag market continues to evolve, opportunities abound for innovation, sustainability, and market expansion.
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Key Takeaways from the Market Study
- The global trash bag market was valued at US$ 10.6 billion in 2023.
- From 2019 to 2023, trash bag sales expanded at a CAGR of 7.3%.
- The market in South Korea is expected to rise at a CAGR of 7.7% through 2034.
- By material, the PE segment to account for a CAGR of 5.5% through 2034.
- Star sealed trash bags to be preferred, with sales expanding at a 5.3% CAGR until 2034.
- The United States presents substantial investment and growth opportunities, yielding a value of US$ 3.5 billion by 2034.
Competitive Landscape
- Berry Global Inc.
- Novolex
- Reynolds Consumer Products
- Inteplast Group Ltd.
- Poly-America L.P
- International Plastics, Inc.
- Four Star Plastics
- Cosmoplast Industrial Company
- NOVPLASTA
- Alpha Omega Plastic Manufacturing L.L.C
Recent Development
- In 2022, ECOSAC unveiled Ecopath, a collection of biodegradable consumer products. Aimed at environmentally conscious individuals, known as Ecopaths, these offerings provide eco-friendly alternatives for everyday use.
- Crafted from responsibly sourced natural and biodegradable materials, the product range includes coir dishwashing scrub pads, paper stem cotton buds, wooden toothbrushes, tongue cleaners, wooden combs, bamboo straws, wooden shaving brushes, and razors. The lineup also features compostable garbage bags known as Kachra sack, widely accessible in major supermarkets.
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Segmentation Analysis of the Trash Bag Industry:
By Material:
- PE
- Low Density Polyethylene (LDPE)
- High Density Polyethylene (HDPE)
- Linear Low Density Polyethylene (LLDPE)
- PP
By Type:
- Star Sealed
- Drawstring
- Wavetop
- C Fold
- Flat Seal
- Gusset Seal
By Sizes:
- 3-13 Gallons
- 14-50 Gallons
- Above 50 Gallons
By End User:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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