The global compostable & biodegradable refuse bags market is expected to witness significant growth, with a predicted valuation of US$ 653.0 million by 2033, up from US$ 318.1 million in 2023. The sales of compostable & biodegradable refuse bags are forecasted to register a robust compound annual growth rate (CAGR) of 7.5% during the forecast period.
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Key Drivers of Market Growth:
- Demand for Plastic Alternatives: The increasing awareness about environmental sustainability and the adverse effects of traditional plastics have led to a rising demand for compostable & biodegradable refuse bags as eco-friendly alternatives.
- Population Growth and Pollution Concerns: With the global population on the rise and pollution levels escalating, there is a growing need for effective waste management solutions. Compostable & biodegradable refuse bags offer a sustainable option for waste disposal, driving market growth.
- Government Initiatives and Technology Advancements: Government initiatives aimed at promoting the use of eco-friendly materials and technological advancements in compostable bag production are creating favorable market opportunities for compostable & biodegradable refuse bags.
- End-Use Industries Adoption: Various industries, including retail, institutional, and industrial sectors, are increasingly adopting compostable & biodegradable refuse bags for waste collection purposes, further propelling market growth.
- Focus on Sustainability: The growing focus on sustainability, particularly in the production and consumption of organic products, is driving the adoption of compostable & biodegradable refuse bags as part of efforts to reduce single-use plastic consumption.
- Increased Establishment of Hospitals, Hotels, and Restaurants: The expansion of hospitals, hotels, and restaurants worldwide is contributing to the growing demand for compostable & biodegradable refuse bags, particularly for waste management in these establishments.
Which Product Type Segment is leading in the Market?
The compostable category leads the product type segment in the global market by capturing a CAGR of 7.2% during the forecast period. The compostable segment is increasing due to its natural plant stretch. These bags are biodegradable, leak-proof, and fully recyclable. As a result, the demand for compostable bags is growing due to their superior advantages and quality.
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.
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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.
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 Global Compostable & Biodegradable Refuse Bags Market are:
In Jun 2020, India’s leading Oxo-biodegradable and compostable bags- Ecosac Utility Bags, introduced Kachra Sack Line bags. These bags are eco-friendly and efficient in controlling environment pollution.
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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
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