Market Challenges And Opportunities

Increasing concern regarding hygiene in emerging economies such as China and India has increased the adoption of trash bags in these countries to avoid any health issues. Increasing disposable income of people in emerging economies is a major factor that drives growth of the trash bags market. For instance, according to the Ministry of Statistics and Programme Implementation (India), disposable income in the country increased to US$ 2693478.5 Mn in 2018 from US$ 2369487.4 Mn in the previous year.

Trash bags are used as a regular item in developed regions such as Europe and North America. Hence, the demand for trash bags in such regions have been steady over the past few decades.

However, developed countries are more focused on reducing plastic waste and using bio-degradable plastics for daily use instead of single-use plastic bags. For instance, in January 2016, Walmart started charging US$ 0.04 to its customers who asked for single-use plastic bags at checkout. Such initiatives will increase demand for bio-degradable trash bags in developed economies.

Increasing demand for household products in the U.S. is encouraging manufacturers to expand its production facility of its home care products. For instance, The Clorox Company opened a new production facility to expand its home care business in January 2018.

Increasing environmental concerns regarding the use of plastics is one of the major restraining factors that is expected to affect growth of the trash bags market, globally. For instance, in 2017, the Government of Indonesia signed a Memorandum of Understanding (MoU) to stop the use of plastic bags in Bali by January 2018. In 2019, many states in India banned the use of single-use plastics to support the ‘Clean-India Movement’.