The global garbage bag market size is expected to showcase substantial growth in the foreseeable future. This information is published by Fortune Business Insights in its report, titled “Garbage Bag Market, 2023-2030“. The bags are extensively used in household and commercial spaces for hygienic garbage disposal. Besides, the increasing focus on creating sustainable products by the companies is being witnessed as a positive sign in the market. For instance, in 2019, the Glad Products Company launched plant-based bin bags to gain a sustainable approach. This also made the users aware of recycling, reducing, and reusing. Such innovations are expected to fuel the growth of the market.
Fortune Business Insights™ lists out all the garbage bag market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- SARANTIS S.A.
- Polykar Industries Inc.
- The Glad Products Company
- Green Groundswell
- com
- Lowe’s
- Staples Inc.
- Grove Collaborative Inc.
- Berry Global Inc.
- NOVPLASTA CZ
- r.o.
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What Does the Report Contain?
The insights in the report are based on primary and secondary research to come to authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants to the market. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and much more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in this product.
Driving Factor
Increasing Number of Housing Facilities to Aid Growth
The expanding demography is leading to extensive availability of housing facilities globally. For instance, in July 2020, the U.S. Department of Housing and Urban Development recorded the sales value of USD 791,000, which is a staggering 36.3% growth from its previous month. Rapid-paced urbanization across the globe is resulting in high consumption of the product and facilitating garbage bag market growth.
The market has also experienced skyrocketing sales with the outbreak of coronavirus. Consumers globally are concerned about their health and taking care of hygiene and sanitation. Moreover, hospitals are also garnering high demand for dustbin bags for the safe disposal of biohazard waste. These factors are expected to propel market growth in the foreseeable future.
Regional Insights
High Waste Generation in North America to Augment Growth
North America is projected to lead the garbage bag market share in the foreseeable future. This is because of the large volume of waste generated from household and commercial spaces in countries such as Canada and the USA. For example, the report Cutting the Waste by Canada’s Ecofiscal Commission in 2018, reports that on an average over 400 kg of solid waste per person is generated annually. Additionally, the rapid urbanization rate in the region is expected to augment high demand.
Asia Pacific is anticipated to generate substantial demand in the forthcoming years. This is due to the rising number of infrastructural facilities in Indonesia and India. For example, in 2019, the Government of India approved housing facilities worth USD 10,006.10 million under the PMAY Urban scheme. These factors are substantially affecting the market demand.
Market Segmentation
By product type, the market for garbage bag is bifurcated into recyclable bags and non-recyclable bags. On the basis of distribution channels, the market is segmented into convenience stores, hypermarkets & supermarkets, online stores, and others. On the basis of end-user, the market is trifurcated into residential, commercial, and industrial. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Competitive Landscape
Product Innovation by Prominent Companies to Intensify Market Competition
The market for garbage bag is fragmented by the presence of several major companies. Moreover, stringent regulatory scenarios in most of the leading economies intensify the company stability with constant updates and quality checks required to maintain standards. The growing investment in this market is expected to exponentially boost this industry and give lucrative returns. Prominent players are focused on technological innovation by investing in research and development.
The Global Garbage Bag Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Garbage Bag? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Garbage Bag Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Garbage Bag Market? What Was Capacity, Production Value, Cost and PROFIT of Garbage Bag Market?
- What Is Current Market Status of Garbage Bag Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Garbage Bag Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Garbage Bag Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Garbage Bag Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Garbage Bag Industry? What are Global Garbage Bag Analysis Results? What Are Global Garbage Bag Development Trends?
- What Are Market Dynamics of Garbage Bag Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Garbage Bag Industry?
Industry Development:
- June 2020: Quebec-based American leader, Polykar Industries Inc. established its plant at Ville Saint-Laurent. This plant has the capability to recycle 10,000 tons of commercial and industrial plastic waste and can be efficiently utilized to develop recyclable garbage bags.
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