Recycling Bins Market Share, Demand, Top Players, Industry Size, Future Growth By 2030
The global recycling bins market size is set to enter a period of prolific expansion owing to surging solid waste generation around the world, shares Fortune Business Insights™ in its report, titled “Recycling Bins Market, 2023-2030”. According to the “What a Waste 2.0” report published by the World Bank (WB) in 2018, worldwide, approximately 2.01 billion metric tons of municipal solid waste is generated every year. The WB predicts that by 2050, the amount of waste generated will rise to 3.40 billion metric tons. Even more shockingly, only 13.5% of this waste is recycled and 5.5% is composted, the WB’s report highlights. Increasing waste generation is detrimental to public health as non-treatment or inefficient disposal this waste is likely to create breeding grounds for various diseases, which will inevitably and disproportionately harm the less-privileged. As a result, the adoption of recycling bins and other modern waste management technologies is rising worldwide, which is driving the global market.
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Fortune Business Insights™ lists out all the recycling bins market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Clean Cubes
- Step ‘N’ Sort
- IRIS USA Inc.
- Happy Sale
- Genuine Joe
- Organize It All
- United Solutions
Highlights of the report:
- Critical examination of each individual market segment;
- Piecemeal analysis of the factors driving and restraining the market growth;
- Accurate projections of upcoming trends and opportunities in the market; and
- Detailed research into the regional developments and competitive environment of the market.
Rapid Urbanization to Stimulate Strong Growth Trends in the Market
Urban areas are responsible for majority of the waste generated around the world and this is expected to increase exponentially in the coming decades as countries rapidly urbanize. The Population Division of the UN Department of Economic and Social Affairs (UN DESA) revealed in 2018 that roughly 55% of the world population is living in urban areas. However, the DESA predicts that the number of urban dwellers will rise sharply to 68% by 2050, adding over 2 billion inhabitants to urban spaces in the next three decades. The effects of this unimpeded growth are already visible in the form of stupendous waste generation in most large cities. For example, the WB states that wealthy countries such as Canada and the UK produce 34% of the global waste, while more than 90% of the waste in low-income countries is mismanaged. To counter this massive issue, governments around the world are aggressively promoting the adoption of tools and devices such as recycling bins to optimize waste collection, segregation, and treatment processes.
Excessive Waste Production to Fuel the Market in North America
North America is expected to lead the recycling bins market share during the forecast period owing to inordinately high waste generation in the US and Canada. The WB reveals that the daily per capita waste generation in North America is 4.87 pounds, while in Sub-Saharan Africa it is only at 1.01 pounds. This is expected to create huge demand for recycling bins in the region, especially at the household level.
In Asia Pacific, speedy growth of urban areas, initiation of hygiene awareness schemes by governments, and improved funding for sustainable development programs will be the key growth-drivers for the region. In addition, evolving waste management infrastructure at local government level will provide extra impetus to the recycling bins market growth in the region.
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The Global Recycling Bins Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Recycling Bins ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Recycling Bins Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Recycling Bins Market? What Was Capacity, Production Value, Cost and PROFIT of Recycling Bins Market?
- What Is Current Market Status of Recycling Bins Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Recycling Bins Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Recycling Bins Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Recycling Bins Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Recycling Bins Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Recycling Bins Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Recycling Bins Industry?
Partnerships Targeted towards Enhancing Innovation to Intensify Competition
As the emphasis on circular economy deepens, companies in the market for recyclable bins and other similar waste treatment solutions are focusing on introducing innovative products. To meet that end, these players are partnering with other entities to promote their brands and widen their offerings. Many of the market participants are also ardently advancing the cause of sustainability by developing novel solutions.
- July 2020: Rubbermaid® joined forces with TerraCycle®, the global leader in recycling solutions, to convert all well-used food containers in the US and Canada into recyclable products. The aim of this partnership is to ensure that the lifecycle of all plastic and glass food storage containers is ended sustainably.
- November 2019: Heritage Bag, a brand under Novolex, released a new product line of trash-can liners, containing 50% post-consumer recycled (PCR) resin. The range of liners has been developed in compliance with the LEED Program of the US Green Building Council.
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