Press release
Household Food Waste Composting Machine Market Report 2024-2033: Market Size, Growth, Share And Industry Forecast
Household Food Waste Composting Machine Market
The Business Research Company presents an extensive market research report on the Household Food Waste Composting Machine Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The household food waste composting machine market size has grown strongly in recent years. It will grow from $2.88 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growing environmental awareness, shift towards sustainable practices, government initiatives and regulations, rise in urbanization, educational campaigns and outreach.
More information about the Global Household Food Waste Composting Machine Market Report -
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The household food waste composting machine market size is expected to see strong growth in the next few years. It will grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing focus on circular economy, waste management policies, consumer demand for eco-friendly solutions, integration with municipal composting programs, educational and outreach initiatives,.. Major trends in the forecast period include energy-efficient operation, incorporation of automated mixing systems, use of biodegradable bags and liners, innovation in product design..
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Key Market Players:
Whirlpool Corporation, Emerson Electric Co., Keter Group SA, Breville Group Ltd., Vita-Mix Corporation, Full Circle Home LLC, EcoRich LLC, Green Mountain Technologies Inc., HotBin Composting, Oklin International Ltd., SCD Probiotics LLC, Tidy Planet Limited, Bokashicycle LLC, CleanRobotics Inc., Bhor Engineering Pvt. Ltd., Fornnax Technology Pvt. Ltd., KK Balers Ltd., Ridan Composting Ltd., Enviro World Corporation, NatureMill Inc., Food Cycle Science Corporation, Hungry Giant Recycling Inc., Open Mind Developments Corporation, Urban Worm Company, SureClose Ltd. are prominent players in the industry.
Market Drivers:
The increasing amount of waste generated is expected to propel the growth of the household food waste composting machine market going forward. Waste refers to a product or substance that has expired or is no longer fit for its original purpose. Household food waste composting machines are utilized to reduce waste by recycling and processing food waste to generate natural fertilizers. For instance, in May 2023, according to the National Environment Agency, a Singapore-based organization for environmental services, 7.39 million tons of solid garbage were produced in 2022. Additionally, domestic waste production rose from 1.82 million tons in 2021 to 1.86 million tons in 2022. Therefore, the increasing amount of waste generated is driving the growth of the household food waste composting machine market.
Market Segments Include:
1) By Type: Indoor, Outdoor
2) By Price: Low, Medium, High
3) By Distribution Channel: Direct, Indirect
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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