VALLEY COTTAGE, New York, February 28, 2017 /PRNewswire/ --
After witnessing multiple garbage crises occurring across European countries, the European Union (EU) strives to ensure that all sorts of waste remains locked & sealed in disposable bags. Changing lifestyles and growing urbanization observed across European countries has triggered the use of garbage bags, compelling people to avert health hazards emanating from open dumping. Future Market Insights' latest research report on Europe's garbage bags market estimates that in 2016, more than US$ 1.5 billion worth of garbage bags were consumed. It has been projected that by the end of 2026, Europe's garbage bag sales will rise steadily at 5% CAGR and reach US$ 2.52 billion in value.
Although, the report also reveals that in terms of volume, Europe's garbage bags market will soar at a moderate CAGR of 3.7%. According to the report, the waste management rules imposed by EU haven't entirely favored the use of garbage bags. The European Environment Agency has laid down strict rules that curb the use of plastic or polythene garbage bags, thereby bringing ambiguity among European citizens and civic authorities in regards to managing waste on a daily basis. Moreover, several landfill sites have been shut down across Europe over the past decade, giving rise to strikes by garbage collectors.
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Presently, garbage bags manufactured in Europe are available in materials namely, polypropylene, high-density polythene, low-density polythene, and linear low-density polythene, among others. With the help of technological advancements, European garbage bag manufacturers are likely to adopt eco-friendly materials in the future. In 2017 and beyond, the demand for polythene garbage bags will remain predominantly higher in European countries. Among them, high-density polythene garbage bags are expected to gain traction. Through 2026, around 30% of Europe's garbage bags revenues will be accounted by garbage bags made from high-density polythene materials. Meanwhile, revenues arising from sales of low-density and linear low-density polythene garbage bags in Europe will remain marginally different throughout the forecast period.
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In the report, titled "Garbage Bags Market: Europe Industry Analysis and Opportunity Assessment, 2016-2026," Europe's retail & consumer industry has been identified as the largest end-user of garbage bags. With over 40% revenue share, garbage bags worth over a billion dollars will be sold across retail & consumer verticals in Europe by the end of 2026. On the other hand, institutional and industrial end-use of garbage bags will collectively account for sales of every other garbage bag being manufactured in Europe during the forecast tenure. Depending on their use, the report reveals higher demand for garbage bags bearing around 20 to 30 gallons in volume. In 2016, close to US$ 470 million revenues were amassed from sales of 20-30 gallon garbage bags in Europe. In the years to come, the demand for 32-35 gallon garbage bags will also gain momentum across the region.
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Among all European countries, Germany is projected to be the largest consumer of garbage bags in Europe. Throughout the projected period, around one-fourth of Europe's garbage bag market value will be accounted by Germany alone. The consumption of garbage bags will also be considerably high in the UK, France, and Italy. Some of Europe's leading garbage bag manufacturers include, Primax D.o.o., Plasta.it, Pack-it BV, MirPack TM, Novplasta S.R.O, Dagoplast AS, EXTRAPACK Ltd., International Plastic, Inc., Terdex GmbH, and Achaika Plastics SA.
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SOURCE Future Market Insights