The Market Research on the “Trash Bags Market 2021-2026”, now available with Market Insights Reports, Introduces systematic details in terms of market valuation, market size, revenue estimation, and geographical spectrum of the business vertical. The Trash Bags market report offers an overview of top company profiles with business value and demand status of the industry. The report also helps the user to understand the market in terms of its definition, segmentation, market potential, influential trends, and therefore the challenges that the market is facing. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Trash Bags investments from 2021 till 2026.
The trash bags market was valued at USD 9.62 billion in 2020, and it is expected to reach USD 15.52 billion by 2026, registering a CAGR of 8.4% during the forecast period (2021-2026).
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The prominent players in the Global Trash Bags Market:
Novplasta, s.r.o Senkvice, Extrapack OOD, DAGOPLAST AS, Terdex GmbH, Internantional Plastics, MirPack TM, Pack-It BV, Achaika Plastic S.A, Plasta.It, Primax D.o.o, Deli, Miaojie, and Others.
Competitive Analysis: –
– April 2018 – Braskem, Embalixo, Brazil’s leading trash bag producer, announced its partnership with Po de A car. The business would see the companies producing garbage bags using plastic materials discarded by customers at the Po de A car 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.
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.
Explore Full Report with Detailed TOC Here:
Major Highlights of TOC
Chapter 1: Introduction
Chapter 2: Research Methodology
Chapter 3: Executive Summary
Chapter 4: Market Dynamics
Chapter 5: Market Segmentation
Chapter 6: Competitive Landscape
Chapter 7: Investment Analysis
Chapter 8: Market Opportunities And Future Trends
Customization of the Report: This report will be customized as per your needs for extra data up to 3 companies or 3 countries or nearly 40 analyst hours.
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