Market Size of Trash Bags Industry
|2019 - 2029
|Market Size (2024)
|USD 14.22 Billion
|Market Size (2029)
|USD 20.46 Billion
|CAGR (2024 - 2029)
|Fastest Growing Market
*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.