Newark, May 11, 2022 (GLOBE NEWSWIRE) -- According to the new report published by The Brainy Insights, The global trash bags market is expected to grow from USD 7.08 billion in 2020 to USD 14.77 billion by 2028 at a CAGR of 5.4% during the forecast period 2021-2028.
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People are increasingly focused on environmental hygiene and cleanliness that surrounds them, which could boost the adoption of trash bags over the forecast period. Trash bag is a disposable bag that is used to carry garbage. These bags are useful for lining the insides of waste containers to keep the container's interior from being coated with waste material.Trash bags, or trash bags, have become very common as they hold the trash without leakage or spill over securely. When packed in trash bags, the smell of the waste substance is minimised. Such bags come in various sizes to carry varying volumes of garbage. They can hold litter or food waste of all sorts without making a mess.
Changing customer lifestyles, growing awareness of health and the environment, and favourable environmental policies initiated by different governments across the globe are the main factors responsible for the rising global demand for garbage bags and, hence, their market growth.Rapid urbanization in developing markets has contributed to substantial increases in the adoption of trash bags. Developments continuing in these regions are projected to further boost the use of trash bags in this geography, along with increasing disposable incomes.The use of trash bags in these regions is projected to remain high for the forecast period, owing to awareness of hygiene and favourable government initiatives for effective waste management.In India, for example, the implementation of stringent waste management laws has led to the timely collection of household waste. This has helped a rise in trash bag use in this geography. Similar programs are expected in other developing economies to sustain the retail segment's high use of trash bags.
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Key players operating in the global trash bags market include Achaika Plastic S.A, Berry Global Inc., Cosmoplast Industrial Company, Dagoplast AS, Four Star Plastics, Inteplast Group, Ltd., International Plastics, Inc., MirPack TM, Novolex, Novplasta, s.r.o., Pack-It BV, Poly-America, L.P., Reynolds Consumer Products, Terdex GmbH and The Clorox Company among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global trash bags industry.
• For instance, in 2018, Laddawn, Inc. (US) was acquired by Berry Global Inc. at an estimated cost of USD 242 million. The acquired company functions under the Berry Global Inc. Engineered Materials division. The acquisition helped the company strengthen its position in the market for custom-made trash bags.
• In November, 2017, The CloroxCompany started a new manufacturing plant in Atlanta (US). The new plant named Atlanta West has been established to produce household goods, occupying an area of 258,000 square metres. The expansion allowed the company to meet the growing demand from household segment customers.
The low-density polyethylene (LDPE) segment held the largest market share of 28.7% and market value of USD 2.04 billion in 2020
The material segment is divided into high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), low density polyethylene (LDPE), bio-degradable polyethylene and others. As low-density polyethylene (LDPE) is purported to be flexible, airtight, soft and waterproof, the low-density polyethylene (LDPE) segment held the largest market share of around 28.8% and market value of around USD 2.04 billion in 2020.
The star sealed bags segment is anticipated to grow at the highest CAGR of 6.1% over the forecast period.
The type segment includes star sealed bags, drawstring bags and others. Star sealed bagshave a unique design that helps prevent messes, leaks, and spills and conformable to all sizes of trash cans. Therefore, the star sealed bags segment is anticipated to grow at the highest CAGR of 6.1% over the forecast period. These bags'design structure demonstrates their flexible nature and enables both the holding of dry and wet waste. In addition to being flexible in nature, these bags have high capacity for handling waste, maintain fair weight distribution and are also user-friendly.
The retail segment is anticipated to grow at the highest CAGR of 5.9% over the forecast period.
The end-use segment includes retail, industrial and institutional. Due to the rising urban population and to strict regulations on the management of household waste, the retail segment is anticipated to grow at the highest CAGR of 5.9% over the forecast period.In addition, the emergence of new consumers in developing economies and the growing disposable income in established markets are projected to boost retail segment growth.
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Regional Segment Analysis of the Trash Bags Market
• North America (U.S. , Mexico, Canada)
• Europe (Germany, U.K., France, Spain, Italy, Rest of the Europe)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
Dense population and growing per capita incomes coupled with government initiatives are major factors boosting the Asia Pacific market growth. Therefore, Asia Pacific is anticipated to register the fastest CAGR during the forecast period.
About the report:
The global trash bags market is analysed on the basis of value (USD billion).All the segments have been analysed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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