The global trash bag market is anticipated to reach a valuation of US$ 11.3 billion in 2024, driven by circular economy initiatives. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.6% between 2024 and 2034, and reaching a total valuation of approximately US$ 19.5 billion by 2034.
The increasing trend of single person households may impact the demand for smaller sized trash bags and packaging solutions suitable for individual needs. Ongoing product innovation in terms of design, ease of use, and additional features can attract consumers and drive market growth. Corporate and consumer initiatives to reduce overall packaging waste may lead to the adoption of thinner, lighter, and more eco friendly trash bag options.
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Collaborations between manufacturers, waste management companies, and retailers can lead to comprehensive waste management solutions, impacting the demand for trash bags. Disruptions or changes in the global supply chain, influenced by factors such as geopolitical events or natural disasters, can affect the availability and pricing of raw materials for trash bags.
Key Takeaways from the Market Study
- The global trash bag market was valued at US$ 10.6 billion in 2023.
- From 2019 to 2023, trash bag sales expanded at a CAGR of 7.3%.
- The market in South Korea is expected to rise at a CAGR of 7.7% through 2034.
- By material, the PE segment to account for a CAGR of 5.5% through 2034.
- Star sealed trash bags to be preferred, with sales expanding at a 5.3% CAGR until 2034.
- The United States presents substantial investment and growth opportunities, yielding a value of US$ 3.5 billion by 2034.
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Segmentation Analysis of the Trash Bag Industry:
By Material:
- PE
- Low Density Polyethylene (LDPE)
- High Density Polyethylene (HDPE)
- Linear Low Density Polyethylene (LLDPE)
- PP
By Type:
- Star Sealed
- Drawstring
- Wavetop
- C Fold
- Flat Seal
- Gusset Seal
By Sizes:
- 3-13 Gallons
- 14-50 Gallons
- Above 50 Gallons
By End User:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa