Global Disposable Garbage Bags Market Will Grow at a CAGR of 5% During 2019-2023
Posted by Technavio on April 10th, 2020
Technavio has announced the release of their research report on the Global Disposable Garbage Bags Market for the forecast period 2019-2023. This disposables garbage bags market analysis report segments the market by distribution channel (offline and online) and geography (the Americas, APAC, and EMEA).
Global disposables garbage bags market size will grow by almost USD 1.05 billion during 2019-2023, at a CAGR close to 5%. There is a growing preference for maintaining health and safety, hygiene, and cleanliness. Disposable garbage bags are ideal for dumping and disposing of accumulated waste, including solid waste, e-waste, and various other types of waste. The use of these bags is considered convenient for consumers as they are vital for effective waste management and facilitate cost-effective, clean hygienic, and easy dumping and disposing solutions for recurring waste. Amid rising awareness of health and safety issues due to waste accumulation, the adoption of disposable garbage bags has increased in emerging economies in recent years.
The emergence of recycled disposable garbage bags
Recyclable water bottles, yogurt containers, and various other waste materials are increasingly being used to manufacture numerous plastic products, including disposable garbage bags. With raw material prices rising significantly, disposable garbage bags manufacturers have begun using recyclable PET plastics as raw materials. By using PET plastics, they are able to substantially minimize costs associated with sourcing raw materials and rake in higher profits. Furthermore, manufacturers of disposable garbage bags are investing considerably in experimenting with PET plastic waste (used as a fiber for containers, bottles, clothing, and other plastic products) by collaborating with local innovators, the recycling industry, and numerous other stakeholders. They are looking at market opportunities and the feasibility of transforming PET waste into raw materials for manufacturing numerous plastic products, including disposable garbage bags.
Download the free sample report @ http://bit.ly/2rQGIEK
“Close to 40% of the market’s growth will come from the APAC region. APAC has high potential given the presence of highly-populous countries such as China, India, and Indonesia that have untapped markets. Consumers in the region are keen to invest in cost-effective and eco-friendly products to ensure effectiveness and durability. This further provides leading market competitors a favorable platform to capitalize on the region’s potential customer base by offering innovative and technologically-advanced products. Furthermore, with the disposable incomes increasing in most APAC countries, countries such as India are making rapid strides towards organized retailing, which will drive the growth of the growth of the market further in the APAC region”, says an analyst at Technavio.
To enhance attributes such as quality, design, composition, capacity, smell resistance, strength, and leak protectiveness, several vendors are investing heavily in R&D activities. Also, manufacturers are emphasizing on addressing environmental concerns associated with disposable garbage bags by introducing eco-friendly and bio-degradable products, thus meeting changing consumer expectations. The Clorox Company, Reynolds Group Holdings, and Berry Global have significantly increased their R&D investments for developing innovative and eco-friendly disposable solutions, including garbage bags.
This disposable garbage bag industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several disposable garbage bag manufacturers including –
Some of the key topics covered in the report include:
Five Forces Analysis
Wall Street Window
Stock Market Financial and Global Geopolitical News