Garbage Bag Market: Drivers, Restraints, Opportunities, & Challenges
So far as geography is considered, the market for European garbage bag has been segmented into Germany, France, Italy, Spain, U.K., Russia, and BENELUX. Belgium, Netherlands, and Luxembourg comprise BENELUX. Owing to the high demand of garbage bags across Europe, the market is anticipated to soar registering a good CAGR during the forecast period of 2016-2026.
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Demand for Biodegradable Garbage Bags to Bolster Growth
The market has been segmented into five categories, so far as material is considered. The segments are, namely Low-density polyethylene (LDPE), Liner low-density polyethylene (LLDPE), High-density polyethylene (HDPE), Polypropylene (PP) and others.
High-density polyethylene (HDPE) is characterized with high performance and extreme tensile strength and with these qualities, HDPE is forecasted to spearhead the European market for garbage bags. This segment accounted for 30% of the total revenue of the European market in 2016. During the forecast period of 2016-2026, the segment of HDPE is expected to expand at a CAGR of 5.5%.
These garbage bags have the ability to contain substantial amount of weight and are cost effective as well. Such characteristics are expected to propel the market for high-density polyethylene garbage bags. Furthermore, high-density polyethylene or HDPE bags come with biodegradable versions. Biodegradable HDPE bags are made of domestic biomass material thereby diminishing oil dependency. They are also easy to recycle and are frequently used.
Developed economies of countries like the U.K. and Germany are expected to fuel the demand for premium garbage bags. These premium garbage bags come with qualities like odour control and ability to stretch and people from the developed countries are willing to pay the extra bucks for these premium quality garbage bags. As such, the opportunity for such premium quality garbage bags are increasing.
Stringent Government Policies to Restrain the Growth of the Market
Governments of several European countries are implementing strict measure to contain the usage of plastic bags. They are imposing regulations wherein the sales of lightweight bags are getting restricted. Countries like Italy, France are applying a complete ban on HDPE plastics bags that are meant for single use. Such bans, though restraining the growth of the market for HDPE garbage bags, help to diminish the harmful effects of plastic bags on the environment, specifically the oceans, lakes, rivers, and the wildlife that inhabit in those water bodies. This is one of the major restraining factors of the European market for garbage bag.
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In addition, imposition of extra charges and increased taxation by the governments of various European countries on the use of plastic garbage bags are dampening the spirit of the market players. Customers are charged extra for plastic garbage bags at various convenience and retail stores. Such government initiatives play a major role in the diminishing the usage of plastic garbage bags in Europe.
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