Introduction
In an era where environmental concerns are at the forefront of global discussions, the Compostable & Biodegradable Refuse Bags Market emerges as a promising solution for tackling waste management issues. These bags offer an eco-friendly alternative to conventional plastic bags, contributing to a more sustainable future. This article delves into the world of compostable and biodegradable refuse bags, highlighting their benefits, uses, and the positive impact they have on our planet.
Compostable & Biodegradable Refuse Bags Market: A Sustainable Shift
Embracing Green Alternatives
With increasing awareness about the adverse effects of plastic pollution, the Compostable & Biodegradable Refuse Bags Market has gained traction as a sustainable shift in waste management practices. These bags are crafted from organic materials that break down naturally over time, minimizing harm to 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.
Compostable & Biodegradable Refuse Bags Market Growth and Trends
The Compostable & Biodegradable Refuse Bags Market has experienced robust growth over the past few years. This growth can be attributed to several factors:
- Government Initiatives: Governments worldwide are implementing regulations to reduce single-use plastics, encouraging the adoption of eco-friendly alternatives.
- Corporate Sustainability: Many companies are incorporating sustainability into their core values, adopting eco-friendly practices, and promoting the use of compostable bags.
- Consumer Awareness: Heightened awareness of environmental issues has driven consumers to make more conscious choices, increasing the demand for eco-friendly products.
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
Innovations and Advancements
The Compostable & Biodegradable Refuse Bags Market is witnessing continuous innovations and advancements. Some notable developments include:
- Enhanced Materials: Manufacturers are exploring new materials and blends to improve the strength, durability, and compostability of these bags.
- Water-Soluble Variants: Some compostable bags are designed to dissolve in water, providing a convenient and eco-friendly solution for waste disposal.
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
