The trash bags market is expected to register a CAGR of 9% by the end of the forecast period 2020-2025. Trash bags that are typically made of polyethylene are tough, light, and holds garbage securely without leakage or spillover thereby finding its adoption across various end-user industries such as retail, institutional, and industrial.
New York, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Trash Bags Market - Growth, Trends, and Forecast (2021 - 2026)" - https://www.reportlinker.com/p06009483/?utm_source=GNW
- The people are increasingly focusing on hygiene and cleanliness of the environment that surrounds them, which could boost the adoption of the trash bags over the forecast period.
- According to Winsight Grocery Business, the garbage/trash/lawn&leaf bags sales in the United States accounted for USD 2723.85 million.
- Rapid urbanization has resulted in an increased waste generation, which could fuel the usage of trash bags over the forecast period. According to the World Bank, the urban population increased from 3.957 billion in 2015 to 4.196 billion in 2018.
- It also stated that annual waste generation would increase by 70% from 2016 levels to 3.40 billion tonnes in 2050. Such instances are indicative of the fact that the trash bag market would witness growth over the forecast period.
- Therefore to cater to the growing market, the player in the industry are increasingly launching trash bags. For instance, in September 2019, Hefty launched a new line of scent-free, 13-gallon garbage bags.
Key Market Trends
Increasing Plastic Bans is Expected to Hinder the market Growth
- To reduce the plastic footprint, the governments, and the related regulatory bodies are imposing bans on plastics, which would result in the countrywide prohibition to the usage of plastics that could affect the trash bag market drastically.
- In March 2019, New York State lawmakers imposed a statewide ban on most types of single-use plastic bags from retail sales, changing a way of life for millions of people of New Yorker as legislators seek to curb omnipresent source of litter. Also, in January 2020, Thailand banned the usage of single-use plastic bags such as trash bags at significant stores.
- As trash bags find their adoption across end-users such as residential, commercial, and retail sectors, they will have to look for alternatives to dispose of the trash generated by them.
- However, such bans provide an opportunity for the trash bag manufacturers to develop a biodegradable or recyclable trash bag that enables them to support their business activities, thereby giving a boost to the market growth.
- In November 2018, Repurpose announced the launch of Compostable Garbage Bags that are capable of withstanding heavy-duty loads. These bags are available in three sizes: Food Scrap Bags, Tall Kitchen Bags, and Lawn & Leaf Bags.
- In March 2019, Albertsons launched 17 compostable and earth-friendly products as part of the Open Nature line. These include garbage bags, lawn and leaf bags, and food scrap bags, with similar products set to roll out in the next few months.
North America is Expected to Hold the Largest Market Share
- The increasing initiatives by the government and the regulatory bodies to promote the usage of trash bags is one of the significant factors that could boost the adoption of trash bags in the region over the forecast period.
- In December 2018, City of Providence Launched an Overflow Trash Bag Program that encourages residents to use bags for excess waste, invites local businesses to participate in contamination prevention program.
- Some of the prominent players in the region offering trash bags include Hefty, Glad, and Store Brand. According to the U.S. Census data and Simmons National Consumer Survey (NHCS), 112.2 million Americans used Glad plastic garbage bags and trash can liners in 2019.
- Also, according to the U.S. Census data and an NHCS survey conducted in 2019, 310.43 million Americans were estimated to use plastic garbage bags and trash can liners. The study estimated that the number is expected to increase to 320.49 million by 2023. Such instances are indicative of the fact that the trash bags market is expected to grow over the forecast period.
- However, increasing plastic bans in the region could hinder the growth of the market over the forecast period.
The competitive rivalry in the trash bags market is high owing to the presence of some key players such as Berry Global Inc., Hefty (Reynolds Consumer Products LLC), and many more. The player in the market is involved in strategic partnerships that have enabled them to come up with product developments, in turn, fueling the market growth.
- April 2018 - Braskem, Embalixo, Brazil’s leading trash bag producer, announced its partnership with Pão de Açúcar. The business would see the companies producing garbage bags using plastic materials discarded by customers at the Pão de Açúcar Recycling Stations Unilever and industrial sacks previously used by Braskem in the delivery of its resins.
- September 2019 - Walmart Canada Introduced the Great Value Mint-X Raccoon repellent garbage bag. The Great Value Mint-X garbage bag comes in two formats - 30, 70-liter bags, and 20, 121-liter bags.
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