The Bagster bag is a heavy-duty contractor bag that makes it easy to dump and dispose of large amounts of debris, yard waste, remodeling materials and more. The bag, which can hold up to 3,300 pounds when full, comes on a roll with drawstrings to securely tie the top once filled. Homeowners simply place debris in the bag, tie it shut, and call for pickup.
The global Bagster bag market is estimated to be valued at US$ 490.4 million in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growth in E-commerce Industry:
The increasing penetration of e-commerce and direct-to-consumer shopping has led to a surge in packaging waste such as boxes, air pillows, paper shreds etc. Bagster Bag Market Size provide a convenient solution to dispose such packaging waste ensuring safe handling and transport to processing facilities. This is expected to drive the growth of global bagster bag market over the forecast period.
Demolition and Construction Activities: Continuous infrastructure projects especially in developing regions of Asia Pacific and Middle East & Africa has increased demolition and new construction activities. Bagster bags help contractors and demolition workers efficiently collect, store and dispose construction debris without it scattering across the premises. This eliminates the need for renting dumpsters and reduces cleanup time and costs. Thus, the growth in construction sector will also propel the demand for bagster bags during the forecast period.
Segment Analysis
The global bagster bag market is dominated by the household segment with around 60% market share. This is due to bagster bags being widely used by households for disposal of household waste such as food scraps, broken items etc. These bags make waste disposal convenient for households by enabling onsite fill and disposal without any transportation requirement.
PEST Analysis
Political: Stringent waste management regulations across many countries favoring sustainable waste disposal options positively impacts the bagster bag market. However, certain bans on single use plastic items affect the market to some extent.
Economic: Rise in disposable incomes increases expenditure on household items like bagster bags for convenient waste management. However, inflation affects their mass adoption.
Social: Increasing awareness about environment protection and sustainability drives the adoption of bagster bags which facilitate responsible waste disposal.
Technological: Advancements in bag materials like compostable plastics help address environmental concerns to some degree. Internet penetration has improved online sales of bagster bags.
Key Takeaways
The Global Bagster Bag Market Size for 2023 is estimated at US$ 490.4 Mn. The market is expected to grow at a CAGR of 7.2% during the forecast period of 2023 to 2030.
Regional analysis
The North American region dominates the bagster bag market with over 30% share due to early adoption of sustainable waste management practices and high spending on household products. Stringent regulations in countries like the US and Canada regarding responsible waste disposal further support market growth.
Key players
Key players operating in the bagster bag market are GE, Siemens, Rolls-Royce, Kawasaki Heavy Industries, MAN Energy Solutions, and Wartsila. Mitsubishi Heavy Industries, Harbin Turbine Company, Solar Turbines, and Ansaldo Energia are also leading manufacturers in this sector.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile