Trash Bags Market | Key players operating in the market include Berry Global, Inc., The Clorox Company, Novolex, Inteplast Group, Four Star Plastics

According to recent market research "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) - Global Forecast to 2024", 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.

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Based on end use, the retail segment is projected to grow at the higher CAGR between 2019 and 2024. The global retail segment has been showing robust growth in recent years due to the increasing urban population and stringent regulations for handling waste for households. The growth of the retail segment is supported by both, the creation of new consumers in emerging economies and the rising disposable incomes in developed economies. Due to the awareness regarding hygiene and favorable government initiatives for efficient waste management, the consumption of garbage bags is expected to remain high in this segment.

Based on type, the star sealed segment is projected to grow at the highest CAGR between 2019 and 2024. The requirement for star sealed trash bags is high because of their unsurpassed strength, large bearing weight capacity, and stretch ability to facilitate proper disposal of wet and dry waste. Also, HDPE-based trash bags are able to prevent leaks and odors as these bags possess superior film strength and exceptional moisture & vapor barrier properties. LDPE-based bags possess high wear & tear resistance, making them the preferred choice in daily cleaning. With fast urbanization, increasing awareness, and rise in disposable incomes, growth in the consumption of trash bags is expected to increase during the forecast period.

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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.

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.

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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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