TRASH BAGS MARKET ANALYSIS

Trash Bags MarketSize and Trends

Market Dynamics:

• 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.

Market Outlook:

• Asia Pacific remains the major market for trash bags and is expected to grow at above average rates mainly due to increasing population and higher demand for waste handling products and services in the region. For instance, according to the UN report published in June 2019, the population in India is expected to grow at a faster pace, adding 273 million people to its current total of 1.34 Billion by 2050.
• The adoption of inorganic growth strategies such as mergers and acquisitions by key players is also expected to drive growth of the trash bags market. For instance, in August 2018, Berry Global Inc., a leading player in the plastic products industry, acquired Laddawn, Inc. to support its custom trash-bags business.
• 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’.