Market Size of Trash Bags Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 14.22 Billion |
Market Size (2029) | USD 20.46 Billion |
CAGR (2024 - 2029) | 7.55 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Trash Bags Market Analysis
The Trash Bags Market size is estimated at USD 14.22 billion in 2024, and is expected to reach USD 20.46 billion by 2029, growing at a CAGR of 7.55% during the forecast period (2024-2029).
Trash bags typically made of polyethylene are tough, light, and hold garbage securely without leakage or spillover, thereby finding its adoption across various end-user industries such as retail, institutional, and industrial.
- People are increasingly focusing on hygiene and the cleanliness of the surrounding environment, which could boost the adoption of trash bags over the forecast period.
- Rapid urbanization has resulted in an increased waste generation, which could fuel the usage of trash bags over the forecast period; it also stated that annual waste generation would increase by 70% from 2016 levels to 3.40 billion tonnes in 2050. Such instances indicate that the trash bag market would grow over the forecast period.
- Manufacturers and consumers are dealing with fluctuating prices due to material supply challenges and sanctions on using plastic bags. Raw materials and trash bag prices have been fluctuating due to the COVID-19 pandemic.
- Consumer awareness of environmentally friendly products is increasing with the rise in environmental concerns. Thus, the demand for oxo-biodegradable bags is expected to be fueled by customer preference for eco-friendly, clean alternatives to traditional synthetic items. Continuous growth in the food, beverage, and pharmaceutical industries also contributes to increased demand for oxo-biodegradable bags around the globe.
- For trash bag manufacturers, the COVID-19 virus outbreak had a negligible effect that was only expected to last a short time. Supply chain disruptions, a lack of raw materials for the manufacturing process, labor shortages, and price fluctuations that may affect the production of the finished product are a few effects of lockdowns.
Trash Bags Industry Segmentation
A Trash Bag is a disposable bag that is used for containing waste. The study tracks the market through the revenue accrued by the consumption of trash bags offered by various vendors operating in the market. The current trade scenario and the major manufacturing countries are also analyzed in the study. The trash bag market is segmented by end-user industry, retail, institutional, industrial, and regions. The market sizes and forecasts are provided in terms of value (USD Million) for all the above segments.
By End-user Industries | |
Retail | |
Institutional | |
Industrial |
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Trash Bags Market Size Summary
The trash bags market is poised for significant growth over the forecast period, driven by increasing urbanization and a heightened focus on hygiene and environmental cleanliness. As waste generation continues to rise, the demand for durable and reliable trash bags, typically made from polyethylene, is expected to expand across various sectors, including retail, institutional, and industrial. The market is also witnessing a shift towards eco-friendly alternatives, such as oxo-biodegradable bags, as consumer awareness of environmental issues grows. This shift is further supported by the continuous expansion of industries like food, beverage, and pharmaceuticals, which contribute to the rising demand for sustainable waste management solutions.
Regulatory measures aimed at reducing plastic waste are influencing the market dynamics, with bans on single-use plastics prompting manufacturers to innovate biodegradable or recyclable options. These regulatory actions, coupled with increasing housing developments and urbanization, are expected to bolster the market's growth. The competitive landscape is characterized by the presence of key players engaging in strategic partnerships and product developments to meet the evolving consumer preferences. Despite challenges such as fluctuating raw material prices and supply chain disruptions, the market is set to benefit from the growing emphasis on waste management and sustainability initiatives globally.
Trash Bags Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rapid Urbanization
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1.2.2 Growing Awareness for Hygiene
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1.3 Market Restraints
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1.3.1 Increasing Plastic Bans
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1.4 Industry Value Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By End-user Industries
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2.1.1 Retail
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2.1.2 Institutional
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2.1.3 Industrial
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.2 Europe
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2.2.2.1 United Kingdom
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2.2.2.2 Germany
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2.2.2.3 France
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2.2.2.4 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Rest of Asia-Pacific
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2.2.4 Latin America
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2.2.5 Middle East and Africa
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Trash Bags Market Size FAQs
How big is the Trash Bags Market?
The Trash Bags Market size is expected to reach USD 14.22 billion in 2024 and grow at a CAGR of 7.55% to reach USD 20.46 billion by 2029.
What is the current Trash Bags Market size?
In 2024, the Trash Bags Market size is expected to reach USD 14.22 billion.