With a steady CAGR of 5.8% expected during the forecast period, the global garbage bags market is presently valued at US$ 8.1 Billion in 2022 and is poised to scale new heights, reaching a significant US$ 13.6 Billion by 2032.
The US garbage bags market is experiencing robust growth, with a value of US$ 2.59 billion in 2022, projected to reach a substantial US$ 5.58 billion by 2032, reflecting a remarkable compound annual growth rate (CAGR) of 7.98%. The popularity of polyethylene bags, renowned for their durability and leak-proof design, spans residential, commercial, and industrial sectors, making them indispensable for waste containment.
In the United States, plastic trash bags are especially in demand within the residential sector. The country has taken significant steps toward eco-friendly waste management, with 11 states banning single-use plastic bags and seven states prohibiting expanded polystyrene containers. Furthermore, various cities are contemplating bans on other single-use food ware and packaging.
In Europe, the garbage bags market is set to surpass US$ 3.6 billion by 2032, growing at a CAGR of 4.7%. The impetus for this growth is the increasing emphasis on effective waste management. The European Commission’s mandate for separate waste collection, encompassing paper, metal, plastic, and glass, has contributed to this trend. Additionally, the commission plans to introduce separate bio-waste and hazardous household waste collection systems, further enhancing waste management practices. Over the forecast period, Europe is expected to claim a significant 31.9% of the market share, emphasizing the region’s commitment to responsible waste disposal. According to the European Commission, there has been a per capita generation of 492 kg of municipal waste in recent years.
Request free sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-13032
The Key Players Are-
- Terdex GmbH,
- Novplasta, S.R.O,
- Extrapack Ltd.,
- Dagoplast AS,
- International Plastic, Inc.,
- MirPack TM,
- Pack-It BV,
- Achaika Plastic S.A,
- Plasta.It
- Primax D.o.o.
are prominent players in the garbage bags market. The garbage bags Industry is fragmented and the Tier 1 players in the market hold 15–20% share in the global garbage bags market.
Innovations in the Market
The Garbage Bags Market continues to innovate, addressing consumer needs and environmental challenges. Some notable innovations include:
- Smart Trash Bags: Equipped with sensors, these bags can monitor the fill level and send notifications to users’ smartphones, optimizing waste collection routes and reducing inefficiencies.
- Compostable Bags: Going beyond biodegradability, compostable bags break down into nutrient-rich compost, enriching the soil when properly processed.
- Antimicrobial Bags: These bags are designed to inhibit the growth of bacteria and fungi, contributing to improved hygiene and reduced contamination risks.
Key Findings From the Market Study on Garbage Bags
- Recovery will occur gradually, just like garbage bags. In 2021, the market is anticipated to expand by 0.1% year over year.
- By 2021, the U.S. will account for roughly 85% of sales in North America thanks to initiatives to promote efficient trash disposal.
- Growth in the U.K. after COVID-19 is likely to be impeded because the market is anticipated to see negative year-over-year growth in 2021.
- In 2021, Germany’s economy is predicted to continue to grow slowly, while France’s rubbish bag consumption is anticipated to increase.
- Japan and South Korea’s markets are anticipated to rebound, showing a remarkable rise in sales from 2022 onwards, despite slow growth in 2020–2021
Eco-Friendly Initiatives
As sustainability takes center stage, many manufacturers are focusing on eco-friendly practices and materials. The Garbage Bags Market has seen the rise of bags made from recycled plastics and plant-based sources. These initiatives aim to reduce the carbon footprint of garbage bags while maintaining their functionality.
The Role of Consumer Preference
Consumer preferences play a vital role in shaping the Garbage Bags Market. Some users prioritize durability and capacity, while others opt for eco-friendliness or ease of use. Manufacturers are keenly attuned to these preferences, offering a wide range of options to cater to diverse needs.
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-13032
Key Segments in the Garbage Bags Market
By Material Type:
- Polyethylene
- Polypropylene (PP)
- Others
By Capacity:
- EPS
- PUR
- VIP
- PCM
- Others
By End-use:
- Services
- Healthcare
- Industrial Product & Construction
- Retail
- Hospitality
- Other
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube