(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 29, 2025 (GLOBE NEWSWIRE) -- The "U.S. Commercial Waste Bins market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. Commercial Waste Bins Market was valued at USD 191.71 million in 2023, and is expected to reach USD 258.18 million by 2029, rising at a CAGR of 5.09%. KEY TAKEAWAYS
By Material: The plastic segment holds a major market share of over 72%. The segmental growth is due to their affordability. By Product: The recycling waste bins segment shows the highest growth of 5.70% due to businesses aiming for sustainability goals and rising environmental awareness. By End-User: The retail segment held the largest market share in 2023. The segmental growth is due to the emphasis on customer experience, high volume of waste, and emphasis on recycling & sustainability. By Distribution Channel: The offline segment accounts for the largest market share due to major supermarkets & hypermarkets offering a wide variety of commercial waste bins in the U.S. market. Growth Factor: The U.S. commercial waste bins market is set to grow due to the rising adoption of smart waste bins and rising demand for cleanliness at workplaces.
RECENT VENDOR ACTIVITIES
In 2022, Busch Systems International Inc. introduced the Renegade, their largest outdoor capacity container made entirely of post-consumer recycled content. In 2023, the company's innovation continues with the introduction of the Mosaic Series. Signage takes center stage with this new versatile modular recycling and waste station. Busch Systems joins the Social Recycling Movement and launches a partnership with Plastic Bank to stop the equivalent of 2.2 million plastic bottles from entering the ocean this year. In 2024, Bigbelly announced the launch of our U.S. manufacturing operations in Massachusetts at IndusPAD, creating local jobs and marking a significant milestone in their journey towards revolutionizing public space waste management.
MARKET TRENDS & DRIVERS
Rising Adoption of Smart Waste Bins
The rising adoption of smart waste bins is a significant trend in the U.S. commercial waste bins market. Smart bins are equipped with technology and sensors that can allow them to detect fire, monitor fire fill levels, track waste data, compact waste, and improve hygiene. Its demand is driven by several factors including increased efficiency, improved sustainability, cost savings, data-driven insights, improved sustainability, and advancement in technology. Its demand is driven from offices, shopping malls, retail spaces, educational institutions, hospitals, etc. The sensors in the smart waste bins detect, how full the bin is and show an alert for emptying the bin. It prevents overflowing bins and optimizes waste collection routes.
Increasing Demand for Recycling Waste Bins
Increasing demand for recycling waste bins is a significant trend in the U.S. commercial waste bins market. It is driven by several factors including rising environmental awareness, government incentives & regulations, consumer expectations, corporate social responsibility, LEED certifications, and cost savings. Public spaces and businesses are more conscious of the importance of resource conservation and the environmental impact of waste. Many of the municipalities and states have implemented mandatory recycling programs, even financial incentives for businesses that actively recycle, and waste diversion goals. This pushes businesses to adopt proper recycling practices and invest more in waste bins.
Rising Demand for Cleanliness at Workplaces
Rising demand for cleanliness at workplaces is a significant driver in the U.S. commercial waste bins market. It is driven by several factors including improved productivity, professional image, employee well-being, sustainability, hygiene & health prioritization, enhanced waste management solutions, and compliance with safety & health regulations. A clean workplace is essential for maintaining the safety & health of employees, visitors, and customers. Maintaining a clean workplace creates a positive impression on visitors and clients, which projects the image of efficiency and professionalism.
Growing Hospitality & Entertainment Industry
The growing hospitality & entertainment industry is a significant driver in the U.S. commercial waste bins market. It is driven by several factors including rising travel & tourism activities, increasing preference for events & exhibitions, growing demand for hotels & restaurants, and increased demand for entertainment activities. Hotels, theme parks, restaurants, and other entertainment venues produce large amounts of waste, including disposable tableware, food packaging, waste, and more. It necessitates to adoption of commercial waste bins to dispose of and manage this waste effectively.
INDUSTRY RESTRAINTS
High Maintenance & Cleaning Needs
High maintenance & cleaning needs are a significant challenge in the U.S. commercial waste bins market. It includes odor control, frequent cleaning requirements, accumulation of dirt & debris, labor & cost implications, wear & tear, and environmental concerns. The waste bins, particularly those that are using organic materials or food waste can develop unpleasant odors if not properly cleaned. It can be a challenge to ensure a pleasant environment and cleanliness, especially in spaces like hotels, hospitals, restaurants, and educational institutions.
INSIGHTS BY MATERIAL
The U.S. commercial waste bins market by material is segmented into plastic, metal, and others. The plastic segment holds the largest market share over 72%. Plastic is an affordable and durable material, making it ideal for budget-conscious buyers. It is a significant segment in the U.S. commercial waste bin market due to its resistance to corrosion, lightweight design, variety of colors, and ease of cleaning. Plastic waste bins are widely used in both indoor and outdoor settings, such as offices, retail spaces, and educational institutions. They are popular for recycling and general waste disposal. Additionally, their low-maintenance nature drives the growing demand for plastic waste bins in commercial environments during the forecast period.
INSIGHTS BY PRODUCT
The U.S. commercial waste bins market by product is categorized into general waste bins and recycling waste bins. The recycling waste bins segment shows significant growth, with the fastest-growing CAGR of 5.70% during the forecast period. Recycling waste bins are specifically designed for collecting recyclable materials such as plastic bottles, cans, paper, cardboard, glass, and more. These bins play a key role in recycling programs across public and commercial settings, including schools, universities, offices, hotels, restaurants, airports, and outdoor spaces.
In the U.S., demand for recycling waste bins is driven by factors like sustainability goals, rising environmental awareness, government incentives, consumer expectations, corporate social responsibility (CSR), LEED certifications, and cost savings. Many organizations emphasize sustainability by adopting recycling practices as part of their CSR initiatives
INSIGHTS BY END-USER
Based on the end-user, the retail segment accounted for the largest share of the U.S. commercial waste bins market. The retail segment of the end-user market includes businesses ranging from individual stores to large shopping malls. These environments require waste management solutions that balance functionality with aesthetics while handling high-traffic and diverse waste types such as recyclables, packaging, food, and general waste. Demand for waste bins in retail is driven by factors like a focus on customer experience, high waste volumes, sustainability goals, advanced efficiency features, space-saving designs, and compliance with health and safety regulations. Limited space in retail settings has increased the need for compact bins that fit designated areas. Smaller stores often use general waste bins to maximize floor space and ensure accessible disposal. Furthermore, retailers are also prioritizing bins that enhance store aesthetics, leading to growing demand for customizable options featuring logos, specific designs, and colors.
INSIGHTS BY DISTRIBUTION CHANNEL
Based on the distribution channel, the offline segment holds the most prominent share of the U.S. commercial waste bins market. The offline segment is the largest in the US commercial waste bins market, encompassing supermarkets, hypermarkets, specialty stores, direct sales, hardware stores, and other retailers. These channels provide a convenient, one-stop shopping experience and offer well-established, high-quality brands to a broad customer base. Offline segments are favored for their personalized service, allowing direct consultations, sample viewing, and customization options. Excellent customer service, including after-sales support and expert advice, is vital. Bulk buyers like large businesses, airports, healthcare facilities, retail spaces, and educational institutions often prefer offline channels for direct supplier negotiations and tailored solutions.
The number of supermarkets in the U.S. is growing, with major players like IKEA, Walmart, Target, Lowe's, The Home Depot, and Amazon offering a wide range of commercial waste bins. These retailers cater to diverse needs, from standard options to solutions for small businesses.
COMPETITIVE LANDSCAPE
The U.S. commercial waste bins market report consists of exclusive data on 32 vendors. The market is highly competitive with a mix of niche providers, innovative startups, and established players. Companies in this market are increasingly adopting automation, connectivity features, and automation into their waste bins to enhance user efficiency and experience. They are investing more in advanced technologies. Some of the vendors are collaborating with waste management companies, retailers, and technology providers to expand their product offerings and market reach.
Online sales channels are increasingly popular, with vendors investing in their direct-to-consumer strategies and online presence. Manufacturers are offering a wider variety of styles, materials, and colors to cater to different needs and preferences in the U.S. commercial waste bins market. They are seeking customization options to gain traction in the market.
Key Vendors
American Plastics Busch Systems International Carlisle FoodService Products IKEA Newell Brands Simplehuman Sterilite Corporation Wastequip
Other Prominent Vendors
Amazon Bigbelly Bine sp. z o. o. Carlisle FoodService Products CleanRiver Commercial Zone Products EKO Ecube Labs Fibertech Plastics Honey Can Do International Itouchless Housewares & Products Liberty Diversified International mDesign Menasha Nine Stars Group Novolex OTTO Environmental Systems Rehrig Pacific Company Schaefer Systems International Suncast The Prestwick Group Witt Industries UltraSite Umbra
KEY QUESTIONS ANSWERED
How big is the U.S. commercial waste bins market? Which material segment has the largest share in the U.S. commercial waste bins market? Which product segment provides more business opportunities in the U.S. commercial waste bins market? Who are the key players in the U.S. commercial waste bins market?
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