by Market Overview:
Bagster bags are collection bags that can hold up to 3,300 pounds of debris, leftovers from home renovation or construction projects. They are made from extra-strong polyethylene fabric that can hold loose materials like concrete, brick, and wood. Users simply fill the bag, tie it closed, and call or schedule a pickup online for the waste removal company to haul it away. This provides an alternative to small dumpster rental for cleaning out garages, basements or remodeling projects.
Market Dynamics:
The Bagster Bag Market is primarily driven by the increasing home remodeling and renovation projects taking place across regions. According to the Joint Center for Housing Studies of Harvard University, spending on renovations and repairs of existing homes in the US is expected to reach over $340 billion by 2023. Furthermore, rising popularity of do-it-yourself (DIY) projects and an expanding base of millennials who are now entering their prime homeownership years are also favoring market growth. A few other drivers include growing awareness about cost effectiveness of Bagster bags compared to dumpster rentals and Bagster brand’s promotional initiatives targeting individual homeowners.
Segment Analysis
The bagster bag market is dominated by the residential segment. This segment accounts for over 60% share of the overall market owing to high demand for bagster bags from individual households for garbage disposal and curbside pickup. Bagster bags enable individual households to dispose large volumes of garbage without booking a bulk waste collection service.
The global Bagster Bag Market Size is estimated to be valued at US$ 490.4 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
PEST Analysis
Political: Regulations around solid waste management and landfill disposal in different countries and regions drive the demand for bagster bags. Strict rules to reduce landfill waste favor the growth of bagster bags.
Economic: Rising household incomes boost spending on garbage and waste disposal services including bagster bags. Economic growth supports higher collection and processing of municipal solid waste.
Social: Growing awareness about environment protection and sustainability increases adoption of bagster bags for compact garbage collection from homes and businesses. Social media influence also promotes bagster bags.
Technological: Advanced materials and designs of bagster bags help improve capacity, durability and ease of handling. RFID and sensor-based bagster bags enable automated monitoring and tracking of waste volumes.
Key Takeaways
The global bagster bag market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing urbanization and waste generation across regions.
Regional analysis: North America dominates currently with over 40% share due to stringent waste management rules and high garbage disposal rates in the US and Canada. Asia Pacific is expected to be the fastest growing market owing to a rising middle class population, increasing household consumption and improving regulatory framework in major countries like China and India.
Key players operating in the bagster bag market include Waste Management Inc., Republic Services Inc., Clean Harbors Inc., Covanta Holding Corporation, Stericycle Inc., Advanced Disposal Services, Casella Waste Systems, Recology, Biffa, and REMONDIS SE & Co. KG. These players are focusing on bagster bag capacity expansion and partnerships with municipalities to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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, chemical and materials, defense and aerospace, consumer goods, etc.
