Trash Bag Market to Reach USD 17.13 Billion by 2030, Growing at 5.6% CAGR
Summary:
The global trash bag market, valued at USD 11.70 billion in 2023, is expected to reach USD 17.13 billion by 2030, with a CAGR of 5.6% during the forecast period. The surge in residential waste management and the increasing demand for hygienic disposal solutions are key drivers of this growth.
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Trash Bag Market to Hit USD 17.13 Billion by 2030 Driven by Residential Demand and Enhanced Waste Management Practices
Market Size:
The global trash bag market, which stood at USD 11.70 billion in 2023, is poised to expand at a CAGR of 5.6%, reaching USD 17.13 billion by 2030. This growth is largely attributed to the increasing emphasis on residential waste management and advancements in waste disposal technology.
Overview:
Trash bags are essential products used in households and commercial spaces for effective waste disposal. These bags, made primarily from polyethylene, offer an affordable solution for maintaining hygiene and controlling waste odor. With growing urbanization and increasing awareness about sanitation, the demand for trash bags is on the rise globally.
Market Scope:
The report provides a comprehensive analysis of the global trash bag market, covering various aspects such as market dynamics, segmentation, regional analysis, and the impact of external factors. It also includes a detailed study of key players in the market.
Segmentation:
- Material Type: Low-Density Polyethylene (LDP) bags dominate the market due to their chemical resistance and non-toxic nature. LDP bags were valued at USD 39.53 billion in 2023 and are expected to grow at a CAGR of 3.5% during the forecast period.
- Product Type: Recyclable bags held a 57.47% market share in 2023. These bags are durable, eco-friendly, and are anticipated to grow at a CAGR of 4.5%.
- End-User Type: The residential segment leads the market, accounting for 65.39% of the market share in 2023. This segment is expected to grow at a CAGR of 3.8% due to the increasing focus on cleanliness and waste management in households.
Major Manufacturers:
- Pack-It B.V.
- Kemii Garbage Bag Co. Ltd.
- Cosmoplast Industrial Company L.L.C. (Harwal Group of Companies)
- Luban Packing LLC
- Hefty (Reynolds Consumer Products LLC)
- International Plastics Inc.
- Novolex
- Novplasta, s.r.o.
- Terdex GmbH
- Berry Global Inc.
- The Clorox Company
- Reynolds Consumer Products
- Inteplast Group
- Four Star Plastics
Regional Analysis:
The Asia-Pacific region dominated the global trash bag market with a 52% share in 2023, driven by high population density in countries like China and India. China, which accounts for 29% of global trash bag production, is leading efforts to reduce single-use plastics and improve recycling rates. North America, the second-largest market, is expected to grow at a CAGR of 2.9%, supported by rising disposable incomes and urbanization.
COVID-19 Impact Analysis:
The COVID-19 pandemic has had a mixed impact on the trash bag market. While there was a temporary disruption in supply chains, the increased focus on hygiene and sanitation during the pandemic has led to a surge in demand for trash bags, particularly in residential settings.
Key Questions Answered:
- What are the key factors driving the growth of the trash bag market?
- Which material type is expected to dominate the market during the forecast period?
- What is the market share of recyclable bags in 2023?
- How has the COVID-19 pandemic impacted the trash bag market?
- Which region is expected to lead the market in the coming years?
Table of Contents:
- Introduction
- Market Dynamics
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- COVID-19 Impact Analysis
- Key Questions Answered
- Conclusion
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About Us:
About Maximize Market Research:
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