Increase in waste generation in wake of urbanization has created the utmost need for garbage bags. Rising demand for waste disposal right from households to commercial places is anticipated to boost the growth of garbage bags market in the years to come. The global garbage bags market is expected to witness a mound of growth at a CAGR of 5.8% between 2022 and 2031, reaching US$ 13.6 Bn.
As per the data by worldbank.org, the world generates 2.01 billion tons of municipal solid waste per annum, out of which 33% of waste is not managed in an environmentally safe manner. Waste generated per person every day is averaged at 0.7 kilogram but ranges from 0.1 to 4.5 kilograms every day.
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Poorly managed waste is leading to landslides of waste dumps and is contaminating world’s ocean and land leading to clogged drains and flooding. Moreover, improper waste disposal is a threatening concern for human health as it transmits diseases and increases respiratory problems. These concerns have made hygiene practices such as proper disposal of waste increasingly crucial.
Besides this, expansion of service sector will continue aiding the expansion of the market. FMI has forecast the services segment to account for nearly 1/4th of the market by the end of 2031.
Key Takeaways of Garbage Bags Market Study
- Recovery will be slow and steady as garbage bags market expected to register 0.1% Y-o-Y growth in 2021
- Initiatives undertaken to encourage proper waste disposable will enable the U.S. account for nearly 85% of sales in North America in 2021
- Post COVID-19, growth in U.K. is likely to be hampered as the market is forecast to register negative Y-o-Y growth in 2021
- Negative growth is expected to persist in Germany in 2021, while France will showcase positive rise in the demand for garbage bags
- Despite sluggish growth in 2020-2021, Japan and South Korea markets are expected to bounce back, exhibiting impressive rise in sales 2022 onwards
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“With focus on sustainability rising, most companies are expected to shift away from plastic to eco-friendlier materials. An increasing number of companies are likely to offer recyclable solutions to keep pace with changes in consumer behaviour and preference” says an FMI analyst.
Automation in Waste Disposal to Create Lucrative Opportunity
Handling trash cans can be a tedious task, but with the click of a button innovation has made it easy and convenient. For instance, Knectek Labs, a Toronto-based tech company has launched a trash can called Townew. This innovative product seals and replaces its own garbage bags once full to prevent spillage and mess. Moreover, it has sensors which can sense approaching objects which prevent touching the trash can at all.
Customer inclination towards automated products and increasing preference for smart homes have led to increasing demand for innovative products. These innovative trash cans require customized garbage bags such as refills, which are manufactured in accordance with the dimensions of the product and material compatible with the product. This will create opportunity for the garbage bag manufacturers to make products compatible with automatic solutions.
Impact of COVID-19 on Garbage Bags Market
Cleanliness and hygiene were given high importance during the pandemic. The need for proper disposal of napkins, tissues, waste generated by the ones infected with the virus increased the demand for garbage bags to reduce the exposure or spread of the virus. The risks associated with improper disposal of laundry, gowns, gloves or masks propelled the demand for garbage bags. Care givers, front line workers or patients required to tightly secure the garbage bags due to the risk of transmission of COVID 19. Further, the need to have different segregation of the waste for the ones infected with the virus increased the demand for garbage bags.
Garbage Bags Market Landscape
- Terdex GmbH,
- Novplasta, S.R.O,
- Extrapack Ltd.,
- Dagoplast AS,
- International Plastic, Inc.,
- MirPack TM,
- Pack-It BV,
- Achaika Plastic S.A,
- Plasta.It and
- Primax D.o.o.
are prominent players in the garbage bags market. The garbage bags market is fragmented and the Tier 1 players in the market hold 15–20% share in the global garbage bags market.
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Key Segments Covered in Garbage Bags Industry Research
Garbage Bags Market By Material Type
- Polyethylene
- Polypropylene (PP)
- Others
Garbage Bags Market By Capacity
- EPS
- PUR
- VIP
- PCM
- Others
Garbage Bags Market By Temperature Range
- Up to 30 Litres
- 30-90 Litres
- 90-150 Litres
- Above 150 Litres
Garbage Bags Market By Sales Channel
- Direct Sales (Manufacturers)
- Distributors/Wholesalers
Garbage Bags Market By End-Use
- Services
- Healthcare
- Industrial Product & Construction
- Retail
- Hospitality
- Civil Government
- Defense
- Transportation
Garbage Bags Market By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Vacuum Packaging Market : According to Future Market Insights research, during the projected period, the global vacuum packaging market is set to enjoy a valuation of US$ 7.5 Bn in 2022, and further expand at a CAGR of 4.9% to reach US$ 12.1 Bn by the year 2032. The vacuum packaging market revenues are estimated to boost with the top 3 countries anticipated to hold 25-30% of the global vacuum packaging market by the end of 2022.
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Published by: Future Market Insights, Inc.