CAGR: 4.80%Current Market Size: USD 8.3 BillionFastest Growing Region: Europe
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global garbage bag market is expected to grow from USD 8.3 billion in 2022 to USD 12 billion thousand by 2030, at a CAGR of 4.80% during the Projection period 2023-2030. The growth of the garbage bag market is mainly driven owing to the increasing population
A garbage bag is a disposable bag used to hold solid waste. It is also referred to as a bin bag, rubbish bag, bin liner, trash bag, or refuse sack. Garbage bags are primarily used to prevent spills and leaks of solid and liquid trash. To stop the wastage of garbage, these bags are used to line the inside of garbage cans. They are also used to line trash cans and other containers. The garbage bag is a convenient way to discard trash and can help in keeping the environment clean. Garbage bags are able to collect both dry and wet waste and minimize the unpleasant odor. It can be found in many different forms and densities. They are in high demand in homes, hospitals, and other commercial buildings. They are inexpensive and easily available in stores. The expansion of apartment buildings and the trend toward urban life, which encourages the use of pre-packaged food and drink, have a direct impact on the increase in pollution and waste generation. As a result, the need for garbage bags inevitably increases, fostering the development of this sector. Additionally, the COVID-19 pandemic's abrupt appearance and high prevalence rate caused individuals to become more health- and hygiene-conscious, which in turn sped up the demand for personal hygiene products. It is anticipated that people will continue to favor personal hygiene and cleaning products, which will open up new revenue-generating prospects for the garbage bag market in the years to come. The use of garbage bags during the Projection period may increase as a result of people's growing attention to personal hygiene and the cleanliness of their surroundings. The sales of garbage, trash, yard, and leaf bags in the United States totaled USD 2723.85 million, according to Winsight Grocery Business. Due to the increased garbage production brought on by rapid urbanization, trash bags may become more popular during the Projection period. The World Bank estimates that there were 3.957 billion urban residents in 2015 and 4.196 billion in 2018. Additionally, it predicted that by 2050, annual garbage production would rise by 70% from 2016 levels to 3.40 billion tonnes. Such occurrences suggest that the garbage bag business would expand within the Projection period.
Sample Request:- Global Garbage Bag Market
Market Dynamics:
Drivers:
The use of garbage bags has significantly increased as a result of the rapid urbanization of developing economies. Rising disposable incomes and ongoing development in these areas are anticipated to increase the need for garbage bags even more. Compared to emerging economies, developed markets are more accepting of garbage bags. This is leading to high standards of living because it is familiar to the large discretionary incomes in industrialized economies. Additionally, urbanization and increased disposable income will drive market value growth in developed nations. The market is being pushed by the shifting lifestyles of customers and the expansion of the retail industry. Increased demand for packaged and processed food goods, as well as growing consumer awareness of eco-friendly and biodegradable packaging options, are possible factors.
Restraints:
Government restrictions on the use of plastic garbage bags are projected to limit market growth over the Projection period. It is anticipated that significant environmental risks connected to waste bags, such as air, water, and land pollution, will provide a threat and slow the rate of development for the garbage bag market.
Opportunities:
Due to the fact that these plant-based garbage bags are reusable, sustainable, and recyclable, their use is spreading quickly among urban residents. Today's ecologically conscious client base favors biodegradable garbage bags. It is clear that the global ban on plastic bags, which harms the ecology, has had a significant impact on the market for sustainable goods. Green skill development initiatives and the need for sustainable suppliers are two further factors that support the use of plant-based garbage bags worldwide.
Challenges:
Governments or similar regulatory organizations have an impact on the growth of the garbage bag market because of the reduced usage of plastic. Placing restrictions on plastics made it illegal to use materials that could have had a significant impact on the market for waste bags.
Segmentation Analysis:
The global garbage bag market has been segmented based on product, end-user, and region.
By Product
The product segment is recyclable garbage bags and non-recyclable garbage bags. The recyclable garbage bags segment led the largest share of the garbage bag market with a market share of around 59% in 2022. Compared to non-recyclable varieties, recyclable waste bags are easier to dispose of and more environmentally beneficial. In addition, recyclable garbage bags are in high demand since they are widely accessible in a variety of sizes for the convenience of the consumer and are less likely to tear than other options.
By End-User
The end-user segment is residential, commercial, hospitality, and industrial. Hospitality led the largest share of the garbage bag market with a market share of around 30% in 2022. The demand for garbage bags is being driven by the rise in waste produced by hotels, restaurants, resorts, hospitals, and other commercial enterprises. The need for hotels and restaurants to maintain a clean environment and safeguard the interests of their patrons because, in the hospitality industry, a dirty environment can result in disgruntled patrons.
Global Garbage Bag Market- Sales Analysis.
The sale of the garbage bag market expanded at a CAGR of 3.80% from 2016 to 2022.
The main forces driving the industry's growth are private consumers, retailers, and regional packaging businesses that specialize in delivering goods in the local market. Public awareness needs for cleanliness and sanitation, as well as a growth in trash production globally, are driving the demand for garbage bags. Another element fueling this market's expansion is the population's rising per capita income, which has led to more purchases of consumer and convenience goods.
Customers' inclination for single-use or throwaway goods is increasing as a result of changing lifestyles, which supports market expansion. Due to its value-added uses, which vary from waste processing to garbage transportation and distribution, the garbage bag market is expected to provide significant growth and investment opportunities for companies operating in the industry, particularly in emerging nations. Furthermore, the garbage bag market is anticipated to steadily grow in developed nations where there is significant consumer demand for waste storage and handling bags. To stop leaks and spills of both solid and liquid rubbish, trash bags are frequently utilized. The market demand for these bags has increased as a result of how adaptable and convenient they are for storing trash.
Thus, owing to the aforementioned factors, the global garbage bag market is expected to grow at a CAGR of 4.80% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the garbage bag market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the garbage bag market and held a 41% share of the market revenue in 2022.
Global Garbage Bag Market- Country Analysis:
Germany's garbage bag market size was valued at USD 0.122 billion in 2022 and is expected to reach USD 0.165 billion by 2030, at a CAGR of 3.90% from 2023 to 2030. Due to the increased awareness of waste generation, environmental harm, and unfavorable effects of plastic products and packaging in developing countries, there may be greater prospects for garbage paper bags.
China’s garbage bag market size was valued at USD 0.090 billion in 2022 and is expected to reach USD 0.115 billion by 2030, at a CAGR of 3.20% from 2023 to 2030. The growth of the regional trash market has also boosted the demand for garbage bags. For instance, the National Bureau of Statistics of China projects in May 2020, states that retail sales of consumer products in the country will have reached approximately CNY 3.2 trillion. Garbage bags are becoming ever more necessary as China's transportation packaging sector grows and the nation's consumerism rises.
India's garbage bag market size was valued at USD 0.081 billion in 2022 and is expected to reach USD 0.101 billion by 2030, at a CAGR of 2.90% from 2023 to 2030. Due to growing residential and commercial infrastructure facilities in India. Thiis industry is predicted to grow at the quickest rate.
Key Industry Players Analysis:
To increase their market position in the global garbage bag market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
4.80% |
Market Size |
8.3 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Luban Pack, Berry Plastics Corporation, Kemii Garbage Bag Co.Ltd., Heyun Ruijian Plastic Products Co.Ltd., International Plastics, Allied Plastics, and Cosmoplast. |
By Product |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Garbage Bag Market By Product:
Global Garbage Bag Market By End-User:
Global Garbage Bag Market By Region:
Global garbage bag market is expected to reach USD 12 billion by 2030.
The garbage bag market is projected to have a CAGR of 4.80%.
Garbage bags offer a convenient and adaptable method of storing trash, which has caused market demand to soar. Rapid urbanization and rising disposable incomes have both greatly enhanced the market.
Based on the product, the global garbage bag market has been segmented into recyclable garbage bags and non-recyclable garbage bags.
Leading market players active in the global garbage bag market are Berry Global Inc, Novolex, Novplasta Terdex GmbH, The Clorox Company, Reynolds Consumer Products, Inteplast Group, Four Star Plastics, Cosmoplast Industrial Company, Berry Global Inc., Polyethics Industries and International Plastics, Inc. among other
Political Factors- A stable and welcoming business climate with predictable market growth tendencies is provided by high political stability. However, political unrest discourages investors and damages stakeholders' faith in the economy and, as a result, organizational performance. The garbage bag market is currently active in several nations, each of which is experiencing political unrest. Government policy changes that happen frequently make the environment more unclear, which is bad for corporate success. garbage bag market should research current political developments in the nation because shifting political power could affect the government's priorities for the growth of certain industries.
Economic Factors- The ability of the garbage bag market to implement its long-term growth goals will depend on the GDP growth rate. A high GDP also indicates that consumers can spend more money on the goods being offered. The availability of surplus labor at relatively lower salaries is indicated by high unemployment. The interest rate and how it affects borrowing capacity and investment mindset should also be carefully taken into account by the garbage bag market. The high-interest rate will promote an investment-friendly mindset and broaden the garbage bag market's chances for expansion. Finally, profitability and global trade can both be impacted by exchange rate fluctuations. garbage bag market may have major concerns due to the local currency's high level of fluctuation.
Social Factors- garbage bag market must research the conventionally accepted gender roles to adapt its marketing and communication strategies. Traditional, patriarchal civilizations with clearly defined gender roles will have different marketing and human resource tactics than societies with fewer gender preconceptions. International marketing managers value culture as a key variable. Every civilization has unique norms and values that are crucial in determining how people behave as consumers. The garbage bag market should establish local partnerships and teams to better understand local attitudes and social mores to design marketing plans that are tailored to the local environment. garbage bag market also values social class stratification monitoring.
Technological Factors- To stay ahead of the competition, the garbage bag market should carefully analyze the ongoing technical developments. The potential for the 5G to improve business outcomes through improved user experience, better speed, and increased access should be closely monitored. Such technological advancements have the power to fundamentally alter a sector and rewrite the guidelines for market participants' success. Additionally, it's crucial to take into account the technology's state of development and maturity in the relevant industry. Manufacturers of garbage bags can expand their market share by concentrating on emerging technical advancements by entering markets wheretechnologicaly advancement has not yet matured.
Environmental Factors- Businesses have been forced to implement cutting-edge recycling and waste management strategies due to the combination of rising environmental degradation and technological innovation. Recycling is almost a corporate standard in several nations. Additionally, the garbage bag market must employ effective waste management procedures in organizational divisions that are situated in or close to urban regions. Many nations have established stringent regulations to safeguard their metropolitan regions through efficient garbage management. Some nations provide financial aid to encourage the use of renewable energy sources. To ensure long-term sustainability, the garbage bag market can profit from it and make investments in renewable technology. Due to improved brand perception, this investment will also result in higher stakeholder satisfaction and a larger consumer base.
Legal Factors- As certain nations have strong requirements to maintain labor safety, the Garbage bag market must abide by the laws governing employee/labor health and safety. garbage bag market has an ethical and moral duty to give its employees a safe working environment. In a similar vein, anti-discrimination laws (such as equal employment opportunity laws) also need to be carefully considered when developing human resource practices as discriminatory lawsuits against employers harm the organizational image and affect organizations' capacity to attract and retain talent. The privacy and security concerns of consumers have made data protection a crucial issue.
List of Table
List of Figures