The market for trash bags is anticipated to record a CAGR of around 6% over the forecast period 2020-2028. The major key factors accelerating the growth of the market include rise in waste generation with the expanding urbanization and rising demand in the consumption of trash bags.
Further, huge population in the rising economies will attribute towards the demand for trash bags. The product type is segmented into star sealed, gusset sealed, flat sealed, wavetop and others, out of which, the star sealed segment is anticipated to achieve largest share in the market on the account of unique designs of the bags illustrating their flexibility and their user friendly nature. Moreover, these bags prevent leakage and are comfortable in handling.
Research Nester published a report titled “Trash bags market– Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the trash bags market in terms of market segmentation by product type, by material type, by capacity, by distribution channel, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Based on the regional analysis, the market for trash bags is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The trash bags market in North America is anticipated to dominate the market on the account of presence of working class population along with the rising awareness regarding clean & hygienic surroundings. The Asia Pacific region is anticipated to have highest growth rate on the back of rising industrialization in the emerging countries in the region, low production cost of bags along with growing incomes and government initiatives. These factors are anticipated to drive the market growth over the forecast period.
Trash bags are widely used in most of the countries in retail, industrial and institutional segments. Rapid changes in the taste and preferences of consumers along with their lifestyle have led to a significant increase in the consumption of trash bags. Further, supportive policies for the environment from the authoritative bodies along with the focus of local packaging firms more on delivery of the product are acting as the growth drivers. In the development of nations, cleaning and sanitation are leading to advancements in the disposal system along with the rising awareness for the importance of hygiene. These factors are anticipated to account for the growth in the market over the forecast period.
However, prohibition on the use of plastic to reduce plastic footprint and availability of poor quality locally manufactured trash bags are expected to operate as key restraint into the growth of trash bags market over the forecast period.