Introduction
As the world grapples with the challenges of plastic pollution and its adverse impact on the environment, the need for sustainable alternatives has become more pressing than ever. Compostable & biodegradable refuse bags have emerged as an innovative solution to tackle this problem. These eco-friendly bags not only reduce the burden on landfills but also minimize greenhouse gas emissions. In this comprehensive article, we will explore the Compostable & Biodegradable Refuse Bags Market, shedding light on their advantages, differences, and the key players driving this positive change.
Compostable & Biodegradable Refuse Bags Market: Understanding the Basics
Before delving deeper, let’s clarify the meaning of compostable and biodegradable refuse bags. These terms are often used interchangeably, but they have distinct differences. Compostable bags are made from organic materials that break down into nutrient-rich compost when properly processed, providing a valuable resource for agriculture. On the other hand, biodegradable bags can decompose naturally into harmless substances through the action of microorganisms. Both types contribute to reducing waste and its impact on the environment.
Expectations point towards a robust expansion in the compostable & biodegradable refuse bags market, reaching a value of US$ 653.0 million by 2033 from the current US$ 318.1 million in 2023. This steady growth is projected to reflect a compelling CAGR of 7.5% throughout the forecast period.
Don’t Miss Out: Get Your Hands on Our Sample Report to Uncover the Lucrative Compostable & Biodegradable Refuse Bags Market! https://www.futuremarketinsights.com/reports/sample/rep-gb-7082
Manufacturers are focused on manufacturing sustainable bags to reduce environmental plastic pollution. According to a survey, around 150 million metric tons (MMT) of plastic are already floating in the oceans, and due to its hazardous chemical, millions of aquatic animal’s life die annually. Moreover, several reports found that micro-plastics can affect plants’ soil pH and rooting ability. Therefore, manufacturers have been using eco-friendly solutions to develop paper bags to control environmental pollution.
Key Takeaways:
- The compostable & biodegradable refuse bags market is expected to have a valuation of US$ 653.0 million by 2033.
- With a CAGR of 7.5%, the global market is increasing during the forecast period.
- The United States compostable & biodegradable refuse bags market is anticipated to grow at a CAGR of 7.2% through 2033.
- With a CAGR of 7.0%, the United Kingdom market significantly uplifts during the forecast period.
- The Indian market is expected to grow at a CAGR of 10.1% over the forecast period.
The Rise of Sustainable Living: Market Overview
In recent years, there has been a significant surge in demand for sustainable living products, including compostable & biodegradable refuse bags. Consumers are increasingly conscious of their ecological footprint and are actively seeking products that align with their environmental values. This shift in consumer behavior has catalyzed the growth of the Compostable & Biodegradable Refuse Bags Market, with many companies stepping up to meet the demand for eco-friendly alternatives.
Who is Winning?
The prominent vendors are growing the market by contributing essential roles during the forecast period. Globally, the rising pollution through plastic is a huge problem. To solve this problem, manufacturers are using sustainable and innovative products that may reduce environmental pollution. Therefore, rising research and development activities to use eco-friendly bags are expected to increase the market growth.
Get In Touch With Our Team For a 20% Flat Discount:
Prominent Players in the Market are as follows:
- Mondi Group
- Sphere Group
- Vegware Global
- VICTOR Güthoff & Partner GmbH
- Cedo Ltd.
- BioBag International AS
- PLAST-UP
- Polybags Ltd
- Clondalkin Group Holdings B.V.
- Plastiroll Oy Ltd
- The Biodegradable Bag Company Ltd
- QUICKPACK Haushalt + Hygiene GmbH
- The Compost Bag Company
- SIMPAC
- TERDEX GmbH
Recent Developments in the Compostable & Biodegradable Refuse Bags Market are:
- In 2020, Ecosac Utility bags, India’s leading brand of eco-friendly shopping bags and other utility bags, launched a new range of compostable and Oxo-Biodegradable garbage bags called Kachra Sack. The new eco-friendly bags are an ideal alternative to plastic bags and help to reduce pollution levels.
- In 2021, Indian Startup SpruceGel announced the launch of its new range of eco-friendly and compostable bags. The new bags range from carry bags and garbage bags to apparel bags.
Compostable & Biodegradable Refuse Bags Market by Category
By Capacity:
- 7 to 20 Gallons
- 20 to 30 Gallons
- 30 to 40 Gallons
- 40 to 55 Gallons
- Above 55 Gallons
By Product Type:
- Biodegradable
- Compostable
By Material Type
- PLA
- PBS
- PBAT
- PHA
- Starch Blends
- Cellophane
- Paper
By Thickness:
- 0 to 0.7 mil
- 7 to 0.9 mil
- 9 to 1.5 mil
- Above 1.5 mil
By End Use:
- Retail & Consumer
- Industrial
- Institutional
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Get Expert Insights Now! Contact our Analyst for In-depth Market Analysis and Strategic Recommendations @ https://www.futuremarketinsights.com/askus/rep-gb-7082
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
