The global market for compostable & biodegradable refuse bags is set for substantial growth, with its value predicted to rise from USD 318.1 million in 2023 to USD 653.0 million by 2033. According to recent market analysis, the sales of compostable & biodegradable refuse bags are anticipated to record a compound annual growth rate (CAGR) of 7.5% during the forecast period.
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Market Dynamics:
- Rising Demand for Plastic Alternatives:
- The increasing awareness and demand for plastic alternatives and eco-friendly products are driving the adoption of compostable & biodegradable refuse bags. Consumers and businesses are increasingly seeking sustainable solutions to reduce their environmental footprint.
- Population Growth and Pollution Concerns:
- The growing global population, coupled with rising pollution levels and improper garbage disposal practices, is propelling the demand for eco-friendly refuse bags. Non-degradable garbage bags contribute significantly to environmental pollution, creating a need for sustainable alternatives.
- Technological Advancements and Government Initiatives:
- Advancements in technology and proactive government initiatives to promote eco-friendly materials are creating significant opportunities for the compostable & biodegradable refuse bags market. Policies and regulations aimed at reducing single-use plastics are further accelerating market growth.
- Demand Across End-Use Industries:
- The increasing demand for compostable & biodegradable refuse bags across various end-use industries, including retail, institutional, and industrial sectors, is propelling market growth. These industries are increasingly adopting sustainable practices, driving the need for eco-friendly refuse bags.
- Focus on Sustainability and Organic Products:
- The rapidly growing focus on sustainability and the increasing popularity of organic products are boosting the adoption of compostable & biodegradable refuse bags. These bags offer an eco-friendly solution for waste management, aligning with the sustainability goals of many organizations.
- Growth in Hospitality and Healthcare Sectors:
- The expanding number of hospitals, hotels, and restaurants is accelerating the demand for compostable & biodegradable refuse bags. These sectors are increasingly prioritizing sustainable waste management practices, contributing to market growth.
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.
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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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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