The USA continues to assert its dominance in the North American compostable and biodegradable refuse bags market, maintaining a robust Compound Annual Growth Rate (CAGR) of 7.2% and reaching a valuation of US$ 140.5 million during the forecast period, according to FMI. This growth is propelled by heightened consumer awareness, the adoption of advanced manufacturing technologies, and the presence of key market players.
The global compostable & biodegradable refuse bags market is poised for substantial growth, with a projected rise from USD 318.1 million in 2023 to USD 653 million by 2033. Driven by increasing demand for eco-friendly and sustainable alternatives to conventional plastic bags, the market is anticipated to grow at a compound annual growth rate (CAGR) of 7.5% during the forecast period.
The escalating demand for compostable & biodegradable refuse bags is driven by several factors, including the global shift towards eco-friendly materials and heightened health consciousness among consumers. As plastic pollution continues to pose a significant threat to the environment, there is a growing emphasis on adopting sustainable alternatives.
The proliferation of technology and government initiatives aimed at promoting eco-friendly materials further augments market opportunities for compostable & biodegradable refuse bags. End-use industries such as retail, institutional, and industrial sectors are increasingly adopting these bags, spurred by the need for sustainable waste management practices.
Moreover, the rapid growth of organic products and the focus on sustainability are fueling demand for compostable & biodegradable refuse bags across various sectors. From hospitals and hotels to restaurants and households, there is a growing preference for eco-friendly waste disposal solutions.
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 chemicals, millions of aquatic animal’s life die annually.
Moreover, several reports found that microplastics can affect plants’ soil pH and rooting ability. Therefore, manufacturers have been using eco-friendly solutions to develop paper bags to control environmental pollution.
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.
Opportunities in the Market:
The increasing use of technology and innovation to produce durable, eco-friendly refuse bags is opening new opportunities in the market. Additionally, government initiatives aimed at promoting compostable materials and expanding awareness about environmental issues are expected to further fuel market growth.
The rise of urbanization, growing population, and improper waste management practices have highlighted the need for effective, sustainable refuse bags that can decompose naturally. As a result, companies are investing in R&D to improve the quality and performance of compostable and biodegradable bags, making them more attractive to a wider range of industries.
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.
Access Full Report: https://www.futuremarketinsights.com/reports/compostable-biodegradable-refuse-bags-market
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
About Future Market Insights (FMI)
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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