NEWARK, N.J., Aug. 1, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global trash bags market is projected to grow from USD 7.08 billion in 2020 to USD 14.77 billion by 2028, at a CAGR of 5.4% over the forecast period 2021-2028. The global market for trash bags is projected to see the highest growth in the Asia Pacific. The rising industrialization and urbanization have increased the demand for trash bags for retail applications. This demand is growing substantially and will continue in the future. In this region, rising per capita income, dense population, and government initiatives are significant factors that are driving the market growth.
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The low-density polyethylene (LDPE) segment held the largest market value of around USD 2.08 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. The low-density polyethylene (LDPE) segment held the largest market value of around USD 2.08 billion in 2020 as it is purported to be flexible, airtight, soft, and waterproof.
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. The star sealed bags segment is anticipated to grow at the highest CAGR of around 6.1% over the forecast period. This growth is because its unique design helps prevent leaks, messes, and spills and is comfortable for all sizes of trash cans. These bags' design structure illustrates their flexible nature and enables both the holding of dry and wet waste. In addition to being flexible, star-sealed trash bags have a high capacity for handling waste, maintain fair weight distribution, and are considered user-friendly.
The retail segment is anticipated to grow at the highest CAGR of 5.9% over the forecast period.
The end-user segment includes retail, industrial, and institutional. The retail segment is anticipated to grow at the highest CAGR of around 5.9% over the forecast period. This growth was due to the rising urban population and strict regulations on the management of household waste. 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 Segmentation Analysis:
The regions evaluated for the trash bags market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific is anticipated to register the fastest CAGR during the forecast period. In this region, dense population and growing per capita incomes coupled with government initiatives are significant factors boosting market growth.
Major players in the global trash bags market are 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.
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This study forecasts global, regional, and country revenue growth from 2018 to 2028. The Brainy Insights has segmented the global trash bags market based on below segments:
Global Trash Bags Market by Material:
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Linear Low-Density Polyethylene (LLDPE)
- Bio-Degradable Polyethylene
Global Trash Bags Market by Type:
- Drawstring Bags
- Star Sealed Bags
Global Trash Bags Market by End-Use:
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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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.
SOURCE The Brainy Insights