June 16, 2024
Bagster Bag Market

Bagster Bag Market is Estimated to Witness High Growth Owing to Increase in Waste Management Activities

The bagster bag market involves trash container bags that facilitate easy waste disposal for construction projects, home renovations, spring cleanings, and post-moves. Bagster bags are delivered empty to homes and small businesses, filled up, sealed closed, and picked up for transport to a nearby waste facility. This convenient solution saves users multiple trips to the dump and helps properly dispose of debris.

The global bagster bag market is estimated to be valued at US$ 564.95 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the bagster bag market are 9flats.com Pte Ltd., Expedia Group Inc., NOVASOL A/S, Booking Holdings Inc., MakeMyTrip Pvt. Ltd., Wyndham Destinations Inc., Tripadvisor Inc., Airbnb, Hotelplan Management AG, and Oravel Stays Pvt. Ltd. These companies offer bagster bags of varying sizes and designs to meet different waste disposal needs. The market also presents opportunities for companies to launch bagster bag rental services targeted towards specific industries engaged in periodic waste generation like construction.

With growing urbanization and infrastructure development activities globally Bagster Bag Market Forecasts is expected to increase significantly. Market players can explore opportunities in developing regions of Asia Pacific, Middle East, and Africa witnessing fast-paced industrialization and construction booms. They can also focus on expanding their presence across different countries to make the most of the global shift towards sustainable waste management practices and the rise of online bagster bag delivery models.

The increasing waste generation from industrial and construction activities is a major market driver for bagster bags. As per estimates, the construction industry alone produces nearly 25% to 30% of all solid waste generated worldwide. Bagster bags provide a convenient solution to safely dispose large amounts of construction and demolition debris from remodeling and new development projects. Their adoption is growing amongst industrial and commercial establishments to efficiently manage periodic high volumes of non-hazardous waste.

Market drivers: The growth of the real estate and infrastructure sectors is the major market driver for bagster bags. Rapid urbanization and investment in roads, bridges, commercial complexes, and other construction ventures have significantly increased waste volumes globally. Bagster bags meet the need for simple yet regulated waste disposal from these large-scale projects, driving their increased adoption.

PEST Analysis

Political: Bagster Bag Market is facing political sensitivity due to stringent regulations regarding plastic waste management. Several countries and states have banned or levied heavy taxes on single-use plastic bags.

Economic: The global economic slowdown due to COVID-19 pandemic negatively impacted the bagster bag market in 2020. However, recovering economy and rising disposable income are supporting the market growth.

Social: Growing awareness about environmental hazards of plastic waste is influencing consumers to opt for reusable and biodegradable bagster bags. Social media reviews also impact purchasing decisions.

Technological: Manufacturers are investing in R&D to develop advanced fabric materials for producing durable and lightweight bagster bags. Some are integrating bagster bags with new features like USB ports and anti-theft technology.

Geographical regions with high market concentration

The bagster bag market in terms of value is highly concentrated in North America and Europe. Stringent legislation regarding plastic waste management in countries like the US, Canada, Germany, France, and the UK have boosted the demand for reusable and biodegradable bagster bags in these regions over the past few years.

Fastest growing region

The Asia Pacific region is expected to witness the fastest growth in the bagster bag market during the forecast period. Factors such as rapid urbanization, rising middle-class population, and improving disposable incomes are driving the market in emerging economies of China and India. Additionally, increasing government efforts to curb plastic pollution are supporting the adoption of eco-friendly bagster bags.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it