Bizizz Market Research has recently published a research report, “Trash Bags Market By Material Type (High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), Bio-degradable Polyethylene and Others), size (3 to < 13 Gallons, Greater Than 13 to Less Than 50 Gallons and Above 50 Gallons), end-user (Trash Bags) Type (Drawstring Bags, Star Sealed bags and Others (Wave top, C-fold, Flat Seal, Gusset Seal, etc.)), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Trash Bags Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 12.9 Bn by 2027, witnessing a CAGR of 4.6 % during the forecast period. Key drivers of the market are exponential rate of urbanization and rapid development of economies globally are contributing factors.
Customers are becoming increasingly aware about the hygiene globally along with increased disposable income is propelling the growth of this market. Moreover the governments are becoming more stringent about the hygienic conditions of their countries that has led to impose regulations boosting its market growth during the forecast period. Individuals are also increasingly adopting Trash Bags for controlling the ill impacts of the trash.
The Trash Bags market is anticipated to register a CAGR of over 4.6% during the forecast period.
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By type, Star sealed segment held a prominent share in Global Trash Bags Market in 2018.
The star sealed segment has significantly had market demand for the global trash bags market in 2018. Star sealed segments has significant market demand by its eco-friendly nature as various types of bags could decrease the pollution caused by the plastic waste. User friendly nature plunges the market demand of star sealed trash bags. As these bags could hold various kinds of wastes are widely utilized by the individuals as well as commercial purposes in the global market.
Asia Pacific is Anticipated to Dominate the Global Trash Bags Market during the Forecast Period
The Asia pacific region is estimated to have a substantial growth of urbanization and industrialization process taking place that shall propel the production of trash bags in this region. Waste management has become a prime factor by the governments in this region for improving the environmental conditions and increase the standard of living. Moreover the potential of the trash bags in its market demand is anticipated to be steadily growing in this region because of the increased awareness among the customers and commercial segments of this region.
Global Trash Bags market was highly fragmented among the number of local and global players. Moreover, there is substantial amount of government backup to the trash bags manufacturers that is boosting the market competency of the companies in the global market.
Prominent players operating in the Global Trash Bags Market are: oly-America, L.P., Berry Global, Inc., International Plastics, Inc., The Clorox Company, Allied Plastics, Reynolds Consumer Products, Cosmoplast Industrial Company, Inteplast Group, Ltd, The Clorox Company, Novolex, Four Star Plastics, and Kemii Garbage Bag Co. Ltd., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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