The garbage bags and trash bags in KSA market size was worth around USD 25.14 million in 2022 and is predicted to grow to around USD 36.94 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.96% between 2023 and 2030.
The Kingdom of Saudi Arabia (KSA) is a significant nation in the Middle East. In the KSA industry, garbage bags and trash bags refer to the production, distribution, and consumption of waste sacks. Saudi Arabia is encircled by other important Arab states.
???? Click Here to access The Full market Report : https://www.zionmarketresearch.com/report/garbage-bags-and-trash-bags-in-ksa-market
???? Market Analysis of Garbage Bags and Trash Bags in Saudi Arabia
Qatar, Kuwait, the United Arab Emirates, Iraq, and Jordan, to mention a few, are among the most populous and economically powerful nations. There are 3,600,000,000 individuals in Saudi Arabia, and they are driving the demand for regional garbage and trash bags. These disposable containers are an integral component of the nation’s refuse management systems. Recent efforts by Saudi Arabia to diversify its economy away from oil production and into other forms of international trade have resulted in a greater number of foreign nationals entering the country in search of growth opportunities, thereby creating an excellent consumer base for garbage and trash bags in the Kingdom of Saudi Arabia. Nonetheless, the regional industry is subject to specific growth restrictions and limitations that may have an impact on regional revenue during the forecast period.
???? Major Insights:
• Our research analyst estimates that the market for garbage bags and waste bags in Saudi Arabia will expand at a CAGR of approximately 4.96 percent between 2023 and 2030.
• In terms of revenue, the Saudi Arabia market for garbage bags and waste bags was valued at approximately USD 25.14 million in 2022 and is anticipated to reach USD 36.94 million by 2030.
• Due to rising investments in smart city initiatives, it is anticipated that the market for garbage bags and trash bags in Saudi Arabia will expand at a rapid rate over the coming years.
➤ Investing more in smart city initiatives to stimulate market expansion
The regional market for refuse bags and trash bags in Saudi Arabia is anticipated to expand due to the Saudi government’s increasing investments in the development of smart cities with superior energy and waste management systems. For example, the nation has invested in a 170 km-long city development initiative in the Saudi Arabian deserts. The endeavor has already begun and is being designed by the American studio Morphosis. As per projections, the city is expected to house around 9 million citizens and is being constructed on an estimated budget varying from USD 100 billion to USD 1 trillion. In addition, the country is witnessing the development of NEOM, a high-tech smart city initiative with urban facilities.
➤ Competitive intensity in the regional industry could impede market expansion
Due to the intense competition in Saudi Arabia for the production and distribution of garbage bags and trash bags, the development of this industry is likely to be constrained. The region is home to a number of retailers of branded waste bags as well as numerous domestic or regional manufacturers. This results in intense price competition for long-term survival. Additionally, plastic or non-biodegradable waste bags cause severe pollution, and growing concerns over the excessive use of refuse or trash bags that pollute the environment could further reduce revenue in the KSA region.
➤ Increasing efforts to advocate the use of recyclable or biodegradable bags may create opportunities for expansion
Increased efforts by regional authorities to promote the use of biodegradable or environmentally friendly waste bags are likely to result in increased demand for waste bags in Saudi Arabia. In September of 2019, the Saudi Standards, Metrology, and Quality Organization (SASO) announced new rules for the use and sale of plastic packaging in the country. For example, plastics must be OXO-biodegradable, and all plastic products entering the country from other nations must be registered with SASO.
➤ Disruption in the final product supply chain will hinder market expansion
Due to a variety of environmental and political factors, the supply chain for garbage bags and waste bags on the international market may be disrupted, posing difficulties for market participants in the Kingdom of Saudi Arabia. In addition, bringing the products to market may incur additional expenses due to Saudi Arabia’s stringent regulations regarding the use of plastic materials.
➤ Increasing industrialization rate will increase development prospects
The KSA region is broadening its offerings to the industrial world, resulting in a rise in investments in new production facilities and corporations. According to the Ministry of Industry and Mineral Resources (MIM), more than eighty new production facilities began operations in February 2023 with a total investment of 4.3 billion Saudi Riyals.
???? Get more info : https://www.zionmarketresearch.com/buynow/su/garbage-bags-and-trash-bags-in-ksa-market
The Global Garbage bags and trash bags in KSA Market is segmented based on product, application and region
Global Garbage bags and trash bags in KSA Market: Product Segment Analysis
● Star Sealed Bags
● Drawstring Bags
● Zipper Bags
● Flat Star Sealed Bags
● Others
Global Garbage bags and trash bags in KSA Market: Application Segment Analysis
● Convenience Stores
● Supermarkets/Hypermarkets
● Specialty Stores
● Others
The garbage bags and trash bags in KSA market is led by players like:
● Berry Global
● Hefty
● Reynolds Consumer Products
● Glad
● Extrapack
● Poly-America
● Heritage Bag Company
● The Clorox Company
● Polykar
● Inteplast Group
● Xtex Polythene Ltd.
● Novolex
● Luban Pack
● Four Star Plastics
● PackItHub
➤ During the predicted period, Riyadh will generate the most revenue
Since Riyadh is the capital of Saudi Arabia, its market for garbage and trash containers will experience the greatest growth. As of 2023, the city is home to approximately 7.68 million people and the King Abdullah Financial District. In addition, as the financial and regional capital, Riyadh has more stringent waste management regulations than other cities or regions. The prevalence of numerous supermarkets and retail stores contributes to the city’s increased demand. Jeddah, on the other hand, is the commercial hub of Saudi Arabia and a city with a diverse population.
See More Similar Reports :
https://www.linkedin.com/pulse/global-methacrylic-acid-market-size-share-6pxof/
Every year, millions of Muslim worshippers visit Mecca, making it a significant religious site in Saudi Arabia. Every year during the month of Ramadan, over two million individuals are known to visit Mecca. This increases the use of disposable trash bags in hotels and other places where devotees are housed. Saudi Arabia is working to establish amicable political ties with other nations, and the increasing international collaborations are anticipated to stimulate the country’s economic growth.
???? Get Customization Report : https://www.zionmarketresearch.com/custom/7639
About Us :
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database.
Be First to Comment