Press release
Innovation in Compostable Materials Boosts Growth in the Biodegradable Refuse Bags Market
Compostable & Biodegradable Refuse Bags Market, Global Compostable & Biodegradable Refuse Bags Industry,
The growth of the compostable & biodegradable refuse bags market is largely driven by a rising demand for eco-friendly and sustainable alternatives to traditional plastic bags. Increased awareness of environmental issues, coupled with government regulations and technological advancements, is fueling the adoption of biodegradable and compostable refuse bags across various sectors.
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Core Concepts in the Compostable & Biodegradable Refuse Bags Industry
Market Growth in 2033: The compostable & biodegradable refuse bags market is projected to grow at a CAGR of 7.5% in 2033.
Drivers: Industrial sectors are key drivers for the compostable & biodegradable refuse bags market.
Future Scope: The market is expected to exceed US$ 318.1 million by 2033.
Market Size (2023): The market size is anticipated to be US$ 653.0 million in 2023.
Leading Country: The United States leads the market during the forecast period.
Key Players: Major players include Mondi Group, Sphere Group, and Vegware.
Growth Forecast: The market is forecasted to achieve a CAGR of 7.5% through 2033.
Predicted Market Size (2033): By 2033, the market is estimated to reach US$ 653.0 million.
Historical CAGR: Historically, the market grew at a CAGR of 8.0% from 2017 to 2022.
Market Drivers:
Environmental Awareness : Increasing adoption of compostable & biodegradable refuse bags driven by rising demand for plastic alternatives and heightened environmental consciousness.
Population Growth and Pollution : Escalating population, pollution concerns, improper garbage disposal, and the need to reduce non-degradable waste are fueling market expansion.
Government Initiatives : Supportive government policies and initiatives promoting eco-friendly materials are creating favorable market conditions.
Industry Demand : Growing adoption across retail, institutional, industrial sectors, including hospitals, hotels, and restaurants, is accelerating market growth.
Sustainability Focus : Rising preference for organic products and efforts to curb single-use plastics are boosting demand for compostable & biodegradable refuse bags.
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.
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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