Global Compostable Bags Market: Overview The market size of compostable bags was considerably strong in 2020 and is projected to experience a high revenue growth rate throughout the forecast period. The rapid expansion of the market can be attributed to the increasing awareness about the environmental advantages of using bio-based materials, growing consumer demand for eco-friendly plastic bags, and the widespread adoption of compostable and biodegradable bags across various industries, including packaging, food and beverages, retail and consumer goods, and agriculture. Government initiatives aimed at reducing plastic waste generation and stringent regulations against single-use plastic bags are also significant factors driving market growth.
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Composting involves the decomposition of organic waste in controlled aerobic environments with specific temperature and humidity levels. It is a process used to recycle organic waste materials in industrial composting facilities. Compostable bags are made from organic matter such as vegetable peels and corn starch, which easily break down in the environment without causing any adverse effects. Other plant-based materials used in the production of compostable bags include polylactic acid (PLA), polyhydroxyalkanoates (PHA), and starch blends derived from potatoes, corn, and other sources. These bags are highly eco-friendly as they naturally decompose into soil without leaving behind any toxic residues.
Global Compostable Bags Market: Dynamics Drivers: Several environmental benefits associated with compostable bags Compostable bags are biodegradable, non-toxic, and easily recyclable. The resulting bio-waste can be used as compost to improve soil fertility, water retention capacity, and promote healthy plant growth. Furthermore, the use of compostable bags helps reduce greenhouse gas emissions. These factors are expected to drive market growth in the coming years.
Restraints: Certain disadvantages associated with compostable bags Some drawbacks of compostable bags may hinder market growth in the near future. One significant issue is cross-contamination during disposal. Compostable bags cannot be simply discarded into the soil or regular recycling streams as they can contaminate the entire batch. Therefore, compostable bags can only be recycled in specialized facilities with suitable conditions, which may restrain market growth.
End-use Outlook: The packaging segment is expected to dominate the market in terms of revenue share during the forecast period, driven by the increasing demand for compostable packaging solutions and growing environmental concerns among global consumers.
Global Compostable Bags Market: Regional Analysis Europe is the leading regional market for compostable bags in terms of revenue. The growth in this region is supported by consumers' preference for biodegradable packaging solutions, rising concerns about human health and the environment, and government initiatives such as the Plastic Strategy implemented by the European Union Commission to reduce plastic usage.
Companies Profiled in the Report: The top companies operating in the global compostable bags market include BASF SE, Novamont S.p.A., Dow Inc., Plantic Technologies Limited, NatureWorks, Corbion N.V., Mitsubishi Chemical Holdings, Biome Technologies plc, Eastman Chemical Company, and Danimer Scientific. In January 2021, Hyderabad-based recycling company SpruceGel introduced a new range of compostable bags, expanding its product offerings of eco-friendly carry bags, shopping bags, garbage bags, grocery bags, and disposable pouches.
Report Scope Segments Covered in the Report: This report provides historical data, forecasts, and revenue growth at a global, regional, and country level. It offers analysis of industry trends, consumption patterns, and detailed market and segment data from 2018 to 2028. The report includes information on market trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, market share by region and country, industry analysis, competitive landscape, company financials, and impact analysis.
Compostable Bags Market: Drive factors
Factors Driving the Compostable Bags Market:
- Increasing Environmental Awareness: Growing awareness among consumers about the environmental impact of plastic waste has led to a rising demand for sustainable alternatives. Compostable bags are seen as eco-friendly solutions, contributing to their market growth.
- Government Initiatives and Regulations: Governments worldwide are implementing regulations and initiatives to reduce plastic waste and promote sustainable practices. Strict regulations against single-use plastic bags and government support for compostable alternatives are driving the market.
- Consumer Preference for Eco-friendly Products: Consumers are increasingly seeking environmentally friendly products and are willing to choose compostable bags over traditional plastic bags. The demand is driven by the desire to minimize ecological harm and support sustainable practices.
- Increased Usage Across Industries: Compostable bags are finding applications in various industries, including packaging, food and beverages, retail, consumer goods, and agriculture. The versatility of compostable bags and their compatibility with different sectors contribute to market growth.
- Benefits of Composting: Compostable bags can be easily decomposed through composting, providing additional benefits to the environment. The resulting compost can be used to improve soil quality, enhance water retention, and promote plant growth, creating a positive cycle of sustainability.
- Reduced Greenhouse Gas Emissions: Compostable bags contribute to reducing greenhouse gas emissions compared to traditional plastic bags. The ability to minimize environmental impact and carbon footprint is a significant driving factor for their adoption.
- Technological Advancements: Continuous advancements in technology and manufacturing processes have made compostable bags more affordable, accessible, and efficient. Improved production techniques and innovations in material formulations have positively impacted market growth.
Overall, the market for compostable bags is primarily driven by the growing environmental awareness, government regulations, consumer preferences for sustainable products, increased usage across industries, composting benefits, reduced greenhouse gas emissions, technological advancements, corporate social responsibility initiatives, and rising demand for sustainable packaging.
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