Top Key Market Players in Trash Bags Market

August 08 13:26 2022
Top Key Market Players in Trash Bags Market
Browse 154 market data Tables and 49 Figures spread through 163 Pages and in-depth TOC on “Trash Bags Market”
Trash Bags Market by Type (Star Sealed, Drawstring, Wavetop, C-fold, Flat Seal, Gusset Seal), End Use (Retail, Institutional, Industrial), and Region (Europe, North America, Asia Pacific, Middle East & Africa, South America)

The trash bags market is projected to grow from USD 9.5 billion in 2019 to USD 12.1 billion by 2024 at a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period. Trash bags are disposable bags used for the collection, handling, and disposal of trash. They were invented by a Canadian inventor, Harry Wasylyk, along with Larry Hansen in 1950 for commercial use. Garbage bags are commonly manufactured using thermoplastics, such as Low Density Polyethylene (LDPE) and High Density Polyethylene (HDPE). LDPE trash bags are thick, flexible, and highly resistant to puncturing and tearing, making them ideal for use in the kitchen and in outdoor trash cans, while HDPE trash bags undergo a different manufacturing process as compared with LDPE trash bags, making them thinner and less puncture resistant, ideal for use in offices and restrooms.

The adoption of trash bags is high in developed markets as compared to emerging markets. This can be attributed to the high disposable incomes in developed economies, leading to high standards of living. Rapid urbanization in emerging markets has led to a substantial increase in the adoption of trash bags. Continued developments in these regions, coupled with increasing disposable incomes, are expected to further boost the consumption of trash bags in this geography.

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The retail segment has been showing robust growth in the consumption of trash bags across the globe. The demand for star sealed bottom trash bags is the highest globally due to their storage capacities and high durability properties, such as puncture resistance, wear & tear resistance, leak-proof, etc. Star sealed trash bags are the ideal choice in the Industrial segment as these bags can carry dry as well as wet waste. In addition to this, these bags are suitable for indoor as well as outdoor use as these bags can conform to the shapes of trash cans. However, the demand for drawstring trash bags is majorly in the retail segment as these are not available for large capacities of wastes.

Key players such as Berry Global Inc., (US), The Clorox Company, (US), Novolex, (US), Reynolds Consumer Products, (US), Inteplast Group, Ltd., (US), Poly-America, L.P., (US), International Plastics, Inc., (US), Four Star Plastics, (US), Cosmoplast Industrial Company (L.L.C.) (UAE), NOVPLASTA, s.r.o., (Slovakia), have adopted acquisitions, expansions, and new product launches as their strategies. In August 2018, Berry Global Inc. acquired Laddawn, Inc. (US) for a preliminary cost of USD 242 million. The acquired business operates in the Engineered Materials segment of Berry Global Inc. The acquisition enabled the company in strengthening its position in the custom-made trash bags market.

In December 2017, Novolex acquired certain assets and business operations of Shields Bag and Printing Co. (US), a manufacturer of custom engineered flexible packaging products. The acquisition aided Novolex in strengthening its position in the institutional and industrial segments. In September 2015, Novolex expanded its footprint in Florence (Kentucky). This expansion includes multiple facilities in Florence, including USD 4 million for its headquarters. With this expansion, the company strengthened its presence in the North American market and created 173 new jobs at the facility.

In June 2016, Hefty, a subsidiary of Reynolds Consumer Products, launched its new Ultra Strong trash bags. These new trash bags are powered by Arm & Hammer odor control and are offered in a variety of scents. The new line of trash bags also includes improved strength and break-resistant drawstrings. With this development, the company diversified its product portfolio further.

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