Trash Bags Market worth $13.7 billion by 2028, at a CAGR of 5.2 %, says MarketsandMarkets™

Chicago, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global “Trash Bags Market worth is projected to grow from USD 10.6 billion in 2023 and is projected to reach USD 13.7 billion by 2028, at a CAGR of 5.2 %, between 2023 and 2028 period, as per the recent study by MarketsandMarkets™”. Innovations in trash bag manufacturing, such as improved strength, odor control, and sealability are attracting various end users in the market. Additionally, regulations related to waste management, recycling, and plastic usage are some of the significant factors impacting the market dynamics of trash bags.

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Browse in-depth TOC on “Trash Bags Market”

154 - Market Data Tables
49 - Figures
196 - Pages

List of Key Players in Trash Bags Market:

1. Berry Global Inc. (US)
2. Cosmoplast (UAE)
3. Four Star Plastics (US)
4. The Clorox Company (US)
5. International Plastics, Inc. (US)
6. Novolex (US)
7. Novplasta (Slovakia)
8. Inteplast Group, Ltd. (US)
9. Poly-America, L.P., (US)
10. Reynolds Consumer Products (US)

Drivers, Opportunities and Challenges in Trash Bags Market

1. Drivers: Rapid urbanization and economic development
2. Restraint: Taxes and bans on the consumption of plastic bags
3. Opportunity: Increasing adoption of compostable trash bags
4. Challenge: Environmental damage and risk to biodiversity

Key Findings of the Study:

1. By type, the drawstring segment accounted for the second-largest segment of the trash bags market in 2022.
2. By end use, the institutional segment is the second-fastest growing segment of the trash bags market from 2023 to 2030.
3. Asia Pacific is the second largest region in the trash bags market.

Based on type, the drawstring segment is projected to be the second-largest segment in the trash bags market during forecast period. These bags are used for various resell and non-resell products as well as in the agriculture, hotel, and catering sectors. The drawstring bags are also used in industrial & government institutions for effective waste management.

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Based on end-use, the retail segment is anticipated to be the second largest consumer during forecast period. The retail segment includes the household use of trash bags. As per the World Bank, per capita municipal waste generation is expected to grow nearly two-fold by 2025 from the per capita municipal waste generation levels in 2011. Waste management initiatives in emerging economies are expected to maintain the high consumption of trash bags from the household segment.

Based on region, Europe is projected to be the largest market for trash bags from 2023 to 2028. There is a substantial increase in hygiene concerns across the region post pandemic. Moreover, the rising demand for trash bags from the retail and industrial sectors in key countries such as Germany, France, and the UK is expected to drive the European market during the forecast period.

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Major players operating in the trash bags market include Berry Global Inc. (US), The Clorox Company (US), Novolex (US), Inteplast Group, Ltd. (US), and Reynolds Consumer Products (US). The companies have widespread production facilities with an established portfolio of trash bags, a robust market presence, and strong business strategies. These factors are attributed to their growth in the trash bags market.

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