The trash bag market is projected to be worth USD 11.3 billion in 2024. The market is anticipated to reach USD 19.5 billion by 2034. The market is further expected to surge at a CAGR of 5.6% during the forecast period 2024 to 2034.
Key Market Trends and Highlights
The increasing awareness about environmental issues, particularly plastic pollution, has led to the development and demand for eco friendly and biodegradable trash bags.
Attributes | Key Insights |
---|---|
Trash Bag Market Estimated Size in 2024 | USD 11.3 billion |
Projected Market Value in 2034 | USD 19.5 billion |
Value-based CAGR from 2024 to 2034 | 5.6% |
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The scope for trash bag rose at a 7.3% CAGR between 2019 and 2023. The global market for trash bag is anticipated to grow at a moderate CAGR of 5.6% over the forecast period 2024 to 2034.
The market experienced steady growth during the historical period from 2019 to 2023. Increased population and urbanization contribute to higher waste generation, necessitating the use of trash bags for efficient waste management.
Looking ahead to the forecast period from 2024 to 2034, the market is expected to witness significant growth. The rise of e-commerce and increased home delivery services contribute to higher packaging waste, boosting the demand for trash bags.
There is a growing demand for efficient waste management solutions, including trash bags, with the global population shifting towards urban areas.
Fluctuations in the prices of raw materials, such as petroleum based polymers, can impact the production costs of trash bags, affecting profit margins for manufacturers.
The below table showcases revenues in terms of the top five countries, spearheaded by Korea and Japan. The countries are expected to lead the market through 2034.
Countries | Forecast CAGRs from 2024 to 2034 |
---|---|
The United States | 5.9% |
China | 6.0% |
The United Kingdom | 6.1% |
Japan | 6.4% |
Korea | 7.7% |
The trash bag market in the United States expected to expand at a CAGR of 5.9% through 2034. Stringent waste management regulations at the federal, state, and local levels encourage proper waste disposal practices, boosting the use of trash bags for organized waste containment.
The trash bag market in the United Kingdom is anticipated to expand at a CAGR of 6.1% through 2034. Advances in manufacturing technologies improve the quality, strength, and cost effectiveness of trash bags, meeting the evolving needs of consumers and industries in the country.
Trash bag trends in China are taking a turn for the better. A 6.0% CAGR is forecast for the country from 2024 to 2034. Heightened awareness of health and hygiene, especially in the context of global health events, may influence the demand for trash bags for sanitary waste disposal.
The trash bag market in Japan is poised to expand at a CAGR of 6.4% through 2034. The awareness in country regarding the natural disasters and preparedness measures may influence the demand for durable and reliable trash bags for emergencies.
The trash bag market in Korea is anticipated to expand at a CAGR of 7.7% through 2034. Government led campaigns promoting waste segregation and recycling practices can influence the demand for trash bags designed for specific waste categories, contributing to market growth.
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The below table highlights how PE segment is projected to lead the market in terms of material, and is expected to account for a CAGR of 5.5% through 2034. Based on type, the star sealed segment is expected to account for a CAGR of 5.3% through 2034.
Category | CAGR through 2034 |
---|---|
PE | 5.5% |
Star Sealed | 5.3% |
Based on material, the PE segment is expected to continue dominating the trash bag market. Polyethylene is known for its versatility and durability, making it a preferred material for trash bags. PE trash bags can withstand various types of waste and are suitable for both residential and commercial applications.
In terms of type, the star sealed segment is expected to continue dominating the trash bag market. The star sealed design enhances the overall functionality of trash bags. It provides a strong, leak proof seal at the bottom of the bag, preventing liquids and odors from leaking out. The efficiency in containment makes star sealed bags suitable for various waste types.
The trash bag market is a dynamic and competitive industry driven by the growing global demand for efficient waste management solutions. The landscape is characterized by the presence of key players, regional manufacturers, and a constant emphasis on innovation, sustainability, and market expansion.
Recent Development
Attribute | Details |
---|---|
Estimated Market Size in 2024 | USD 11.3 billion |
Projected Market Valuation in 2034 | USD 19.5 billion |
Value-based CAGR 2024 to 2034 | 5.6% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
Key Market Segments Covered | Material, Type, Sizes, End User, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled |
Berry Global Inc.; Novolex; Reynolds Consumer Products; Inteplast Group Ltd.; Poly-America L.P; International Plastics, Inc.; Four Star Plastics; Cosmoplast Industrial Company; NOVPLASTA; Alpha Omega Plastic Manufacturing L.L.C |
The trash bag market is projected to reach a valuation of USD 11.3 billion in 2024.
The trash bag industry is set to expand by a CAGR of 5.6% through 2034.
The trash bag market is forecast to reach USD 19.5 billion by 2034.
Which country is projected to lead the Trash Bag market?
PE segment is preferred, and is expected to account for a CAGR of 5.5% through 2034.
Estimated Size, 2025 | USD 9.8 billion |
Projected Size, 2035 | USD 14.8 billion |
Value-based CAGR (2025 to 2035) | 4.4% |
Market Size in 2024 | USD 6.8 billion |
---|---|
Market Value in 2034 | USD 9.7 billion |
Value-based CAGR (2024 to 2034) | 3.50% |
Market Estimated Size (2023E) | USD 2.7 billion |
---|---|
Projected Market Valuation (2033F) | USD 5.1 billion |
Value-based CAGR (2023 to 2033) | 6.8% |
Market Estimated Size (2022) | USD 1.7 Billion |
---|---|
Projected Market Size (2032) | USD 2.3 Billion |
Value-based CAGR (2022 to 2032) | 3.5% |
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