by 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 6.6% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Bagster Bag is a heavy-duty, large bag that offers homeowners and small businesses an easy way to fill up and transport large volumes of trash, debris and clutter to local landfills for proper disposal. Weighing up to 325 pounds when full, the Bagster Bag provides a hygienic and odor-controlled solution for household junk removal, spring cleaning, remodeling and other yard and construction projects. By allowing users to neatly package and seal trash in one designated area, the Bagster Bag system reduces safety risks and prevents scattered debris that can attract pests.
Market key trends:
One of the main trends driving growth in the Bagster Bag market is the increasing desire among consumers for simple solutions to dispose of large piles of unwanted items accumulating around their homes. As life has become busier, more homeowners and small contractors lack the time and resources to haul bulky waste to the landfill themselves. The Bagster Bag offers a convenient, pay-as-you-throw method that eliminates the hassle of multiple trips and need to transport loose debris. Rising home improvement projects and housing turnover have also fueled demand for an easy way to discard construction materials, fixtures and old household goods as properties are renovated or new residents move in.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to the highly capital intensive nature of waste management infrastructure and established customer base of existing players.
Bargaining power of buyers: The bargaining power of buyers is moderate as the bagster bag market has a large number of established buyers who source bags from multiple vendors.
Bargaining power of suppliers: The bargaining power of suppliers is moderate owing to availability of raw material substitutes and presence of a number of suppliers.
Threat of new substitutes: The threat from substitutes is low as bagster bags offer convenience in waste disposal which alternatives lack.
Competitive rivalry: Intense competition exists among key players to gain higher market share.
Key Takeaways
The global Bagster Bag Market Share is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing need for convenient and sustainable waste disposal solutions.
The US dominates the bagster bag market owing to stringent waste management regulations and growing awareness about sustainable waste management practices. The market in the US is projected to reach US$ 490.4 million by 2023. Europe is also expected to hold a significant share in the global market during the forecast period.
Key players operating in the bagster bag market are Waste Management Inc., Republic Services Inc., Clean Harbors Inc., Covanta Holding Corporation, Stericycle Inc., Advanced Disposal Services, Casella Waste Systems, Recology, Biffa, REMONDIS SE & Co. KG. These players are focusing on new product launches and mergers & acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
