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Strong Auxiliary Support From Retail and Packaging Sectors to Boost Global Sales of Compostable and Biodegradable Refuse Bags

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Strong Auxiliary Support From Retail and Packaging Sectors to Boost Global Sales of Compostable and Biodegradable Refuse Bags

PR Newswire

VALLEY COTTAGE, New York, August 7, 2018 /PRNewswire/ --

Consistently descending acceptance for non-biodegradable plastics has been further pushed by government driven efforts to encourage sustainable alternatives - fueling the demand for compostable and biodegradable refuse bags. The global market for compostable and biodegradable refuse bags was valuated at roughly US$ 200 Mn in 2017, which is expected to expand at an 8% CAGR over 2018-2028. As indicated by a recent Future Market Insights intelligence, compostable refuse bags are currently enjoying higher sales than biodegradable bags. However, the latter are expected to witness significantly high growth during the forecast period.

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"Strong initiatives of consumers and manufacturers are foreseen to strongly influence the scenario of non-degradable plastics, and legislative norms mandated by several governments are providing a strong impetus to market growth. However, manufacturers are still struggling to achieve price-to-production symmetry," concludes an expert research analyst at Future Market Insights.

Governments of certain European countries such as Germany and Italy have already set regulatory norms against the use of plastics and derived materials, owing to which Germany and Italy will remain among the top consumers of compostable and biodegradable refuse bags. Moreover, exceptional consumer inclination towards using eco-friendly products to lead a sustainable lifestyle will continue to enable Western European market for compostable and biodegradable refuse bags exhibit a high growth rate throughout the projection period.

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Precise Labeling of Compostable and Biodegradable Refuse Bags Maintaining Consumer Confidence 

With a streamlining system of production, labeling, distribution, and disposal of compostable and biodegradable refuse bags, Future Market Insights anticipates robust growth in adoption of compostable and biodegradable refuse bags in the near future. Refuse bags and waste bags are separately sold in market for household composting and industrial composting. Waste collection bags manufactured from bio-plastic polymers are certified and labeled 'OK compost' or 'OK compost home'; the former is suitable only for industrial composting, the latter is designed to be home or garden composted. Such a system helps consumers differentiate between refuse bags and maintain proper communication, fueling further sales of compostable and biodegradable refuse bags.

Innovating Bio-materials on Manufacturers' Minds - for Making Compostable and Biodegradable Refuse Bags

Starch blends, followed by PLA (polylactic acid), will remain a leading material type used in the manufacturing of compostable and biodegradable refuse bags. A number of global leaders in the compostable and biodegradable refuse bags market are focusing on the manufacturing of a wide range of sustainable alternatives to conventionally used plastics and other derived materials. One of the most impactful recent market innovations expected to transform the traditional scenario is - frequent launch of biodegradable phytomaterials that can potentially replace polyethylene in the near future and efficiently be used in the manufacturing of environmentally friendly refuse bags. Also, manufacturers are currently prioritizing the manufacturing of renewable bio-plastic resins and multiple bio-polymer grades as the product differentiation strategy.

Preview Analysis Compostable and Biodegradable Refuse Bags Market Segmentation By Capacity - 7-20 Gallons, 20-30 Gallons, 30-40 Gallons, 40-55 Gallons, Above 55 Gallons; By Product Type - Biodegradable, Compostable; By Material Type - PLA, PBS, PBAT, PHA, Starch Blends, Cellophane, Paper: https://www.futuremarketinsights.com/reports/compostable-biodegradable-refuse-bags-market

Retail and Packaging Domains Offering Multiple Windows of Opportunities 

In terms of end use, industrial sector will continue to account for maximum revenue share to the global compostable and biodegradable refuse bags, closely trailed by the briskly flourishing retail and consumers sector. Several supermarkets have begun to provide drop-off points for old plastic bags in an effort to phase out the use of single-use plastic bags by consumers. Such initiatives by the retail industry are expected to impact consumer behavior and encourage sales of compostable and biodegradable refuse bags. FMI also predicts that this and more such activities will extend strong support to a growing trend of recycling and upcycling of conventional plastic alternatives.

Increasing traction from the packaging industry attributed to escalating preference for biodegradable packaging materials among consumers as well as manufacturers will play a vital role in shaping the growth of compostable and biodegradable refuse bags particularly in the packaging domain. "Packaging industry has been using massive amounts of plastics; however, this is the time manufacturers and consumers across the globe must reassess what plastics are being used for what applications. The overall global scenario compels nothing else but the use of sustainable alternatives everywhere possible," quotes a research analyst at FMI.

For more interesting insights on a range of other factors shaping the performance of global compostable and biodegradable refuse bags market, feel free to get in touch with the team of market research analysts at Future Market Insights - press@futuremarketinsights.com

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