South Korea Compostable and Biodegradable Refuse Bag Market was valued at USD 0.2 Billion in 2022 and is projected to reach USD 0.4 Billion by 2030, growing at a CAGR of 10.0% from 2024 to 2030.
The growing demand for eco-friendly products has significantly influenced the South Korean market for compostable and biodegradable refuse bags. As sustainability becomes an essential factor for consumers and industries alike, the shift towards reducing plastic waste has led to an increasing adoption of these alternative bags. With South Korea leading the charge in green initiatives, this market is expected to see a substantial rise in application across multiple industries, especially in food packaging, retail, and waste management sectors.
South Korea’s commitment to reducing plastic usage has catalyzed industries to seek out compostable and biodegradable refuse bags. These bags are designed to break down naturally in the environment, offering an ideal solution to combat the growing issue of plastic pollution. Not only do they decompose without leaving harmful residues, but they also contribute to reducing the burden on landfills, a problem that is becoming increasingly urgent. The demand for these bags has risen sharply, thanks to the environmental regulations in place and the heightened awareness among consumers and businesses about the ecological impact of plastic waste.
The compostable and biodegradable refuse bag market in South Korea is mainly driven by the need for sustainable alternatives in various industries. The food sector, for instance, uses these bags extensively for packaging organic products, with a growing number of consumers preferring environmentally conscious products. In the retail industry, businesses are increasingly opting for these bags as part of their commitment to corporate social responsibility (CSR) and to meet regulatory requirements. Furthermore, waste management companies are integrating these bags into their services to align with the government's push for cleaner and greener practices.
However, industries seeking to implement these bags face certain challenges. The bags must meet specific compostability and biodegradability standards to ensure they perform as expected in real-world conditions. Manufacturers are tasked with producing bags that break down efficiently, without compromising on strength or functionality. This has led to advancements in material science, where innovations are being made to improve the durability and decomposition rates of these refuse bags.
In addition to these technical requirements, businesses must also navigate government regulations regarding waste disposal and recycling. South Korea has strict rules on the disposal of plastic, which includes incentives and penalties designed to promote eco-friendly practices. This regulatory environment has encouraged industries to shift toward compostable and biodegradable refuse bags, helping to further drive the market's growth.
In conclusion, the South Korean compostable and biodegradable refuse bag market is rapidly evolving. As industries adapt to stricter environmental regulations and consumer preferences lean toward sustainability, these eco-friendly bags are becoming essential in multiple sectors. The ongoing innovation in materials and adherence to government policies will likely continue to fuel the market’s expansion, offering promising solutions for a greener future.
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Mondi Group
Sphere Group
Vegware Global
VICTOR Güthoff & Partner GmbH
Cedo Ltd.
BioBag International AS
PLAST-UP
Polybags Ltd
Clondalkin Group Holdings B.V.
Plastiroll Oy Ltd
The Biodegradable Bag Company Ltd
QUICKPACK Haushalt + Hygiene GmbH
The Compost Bag Company
SIMPAC
TERDEX GmbH
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Compostable and Biodegradable Refuse Bag Market
Compostable
Biodegradable
Household
Industrial
Commercial
Trash Bags
Food Waste Bags
Lawn & Leaf Bags
Residential
Hospitality
Healthcare
Food & Beverage
Online Retailers
Supermarkets & Hypermarkets
Specialty Stores
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Compostable and Biodegradable Refuse Bag Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Compostable and Biodegradable Refuse Bag Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Compostable and Biodegradable Refuse Bag Market, By Type
6. South Korea Compostable and Biodegradable Refuse Bag Market, By Application
7. South Korea Compostable and Biodegradable Refuse Bag Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Compostable and Biodegradable Refuse Bag Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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