According to a new report published by Allied Market Research, titled, “Trash Can Market by Product Type, by Material, by End User, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031″. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The trash can market size was valued at $3.3 billion in 2021, and is estimated to reach $5.3 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.
A trash can, sometimes known as a garbage can, is a container for storing waste. The vast majority are made of metal and plastic. Trash cans are sturdy and can withstand large loads, enabling safe and convenient rubbish storage, disposal, and transportation. To keep pests & insects out and to reduce odor, the garbage can is covered. Specialized can liners assist in the control of leaks and smells. Trash cans enable the sanitary collecting of wastes, which can be liquid or solid. Trash cans are designed for both indoor and outdoor usage, with differing degrees of strength to meet the environment. To make them simpler to handle, the massive garbage cans include rollers, wheels, and distinctive lids.
During the lockdown, owing to coronavirus, the waste production mainly increased from residential areas as compared to industrial and commercial centers, as industries and offices were partially or completely shut down so very less industrial and commercial waste was generated. Further, the decline in the production of new goods led to a fall in demand for recyclable materials such as rubber and plastic.
However, the reopening of production facilities and introduction of vaccines for coronavirus disease has led to the re-initiation of waste management companies and the waste recycle industry at their full-scale capacities. The work from home culture is the major boosting factor in the increase of residential waste, which is increasing the trash can market opportunity for growth.
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The trash can market is segmented on the basis of product type, material, end user, distribution channel, and region. According to trash can market analysis, on the basis of product type, the market is categorized into pedal trash can, sensor trash can, open trash can and others. On the basis of material, it is segregated into metal, plastic, and others. On the basis of end user, it is bifurcated into household and commercial. On the basis of distribution channel, it is divided into hypermarkets/supermarkets, specialty stores, online channels, and others.
The basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Brazil, Turkey, South Africa, Argentina, and Rest of LAMEA).
The players operating in the global trash can industry have adopted various developmental strategies to expand their trash can market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Grahl Manufacturing, Inter IKEA Systems B.V., iTouchless Housewares & Products Inc.Newell brands, Nine Stars Group USA Inc, Otto Environmental Systems North America, Inc., Rev-A-Shelf, Simplehuman, Tramontina, and Umbra.
Key Findings Of The Study:
• On the basis of product type, the sensor trash can segment is projected to witness the highest CAGR of 6.4%, in revenue terms, during the forecast period.
• According to trash can market trends, on the basis of material, the metal segment is expected to dominate the market from 2021 to 2030.
• On the basis of end user, the household segment is projected to witness the highest CAGR in revenue terms, during the trash can market forecast period.
• On the basis of distribution channel, the hypermarkets/supermarkets segment is expected to grow at a significant CAGR during the forecast period.
• On the basis of region, U.S. was the country with largest trash can market size, in terms of revenue generation for the trash can industry in 2021.
• On the basis of region, LAMEA is anticipated to witness highest growth rate, registering a CAGR of 6.9% from 2021 to 2030.
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