Press release
Global Compost Market 2024 Latest Trends, Industry Insights, Business Growth And Forecast To 2033
Compost Market
The Business Research Company offers in-depth market insights through Compost Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The compost market size has grown strongly in recent years. It will grow from $7.53 billion in 2023 to $8.2 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to adoption of home composting, commercial composting facilities expansion, food waste reduction programs, utilization of compost in agriculture, inclusion of compost in urban planning.
The compost market size is expected to see strong growth in the next few years. It will grow to $11.83 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to circular economy practices, climate change mitigation, soil health awareness, corporate sustainability initiatives, expanding horticulture industry. Major trends in the forecast period include innovations in compostable packaging, waste-to-energy transition, organic waste legislation, green infrastructure projects, collaborations for research and innovation.
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Market Segmentation:
The compost market covered in this report is segmented -
1) By Product Type: Yard Trimming, Food Waste, Manure, Mushroom Compost, Vermicomposting
2) By Application: Agriculture, Home Gardening, Landscaping, Horticulture, Construction, Other Applications
Major Driver - Increasing Demand For Organic Farm Products Drives Demand For Compost
The increasing demand for organic farm products is propelling the growth of the compost market. Organic farm products are grown without synthetic insecticides, growth hormones, antibiotics, chemical fertilizers, and synthetic pesticides. The demand for organic food increased during the COVID-19 epidemic as people are more inclined toward the consumption of foods that are healthier and better for immunity. Moreover, organic products are regarded as being of a high caliber and as being safer for the environment and human health. Organic farming widely utilizes compost to increase the fertility of the soil. For instance, in September 2021, the National Institute of Food and Agriculture (NIFA), a division of the U.S. Department of Agriculture (USDA), announced an investment of more than $30 million for 33 grants to help farmers and ranchers who cultivate and sell high-quality organic food, fiber, and other organic goods. Therefore, increasing demand for organic farm products is expected to boost the demand for compost during the forecast period.
Competitive Landscape:
Major companies operating in the compost market report are MyNOKE, MEC Recycling Corporation, Davo's Worm Farms, Veolia Environnement S.A., AGRN Group Inc., NutriSoil, Sri Gayathri Biotec, Charlie's Compost, Attero, Sepura Home Ltd., WormUp LLC, Tadweer - Abu Dhabi Waste Management Center, Dirt Dynasty LLC, McGill Environmental Systems, Kahariam Farms, Mobius Environmental Solutions Inc., WeCare Organics Inc., Michigan Peat Company Inc., CleanRobotics Inc., Compost Crew, Wormpower, Adaptavate Inc., Biophilica LTD, Solum Gruppen AB, Harvest Quest, Primitive Labs Inc., UNCO Industries Inc., Suman Vermi Compost, Jialing Agriculture and Animal Husbandry Co. Ltd., San Luis Obispo County Worm Farm LLC, Circulus Agtech Corporation, Ouivélo
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Top Trend - Sustainable Compost For Eco-Friendly Soil Enhancement
Major companies in the compost market are focused on developing sustainable compost made from organic material, such as by-products of mushroom cultivation, for eco-friendly soil enhancement and to gain a competitive edge in the market. A by-product of mushroom cultivation refers to secondary materials generated during the process, such as spent substrate, utilized for various purposes, such as composting. For instance, in May 2023, Envar Composting Ltd, a UK-based organic waste and biomass recycling operator, launched Spent Mushroom Compost, a by-product of mushroom cultivation, ideal for home gardens and allotments. It is composed of organic materials such as horse bedding, poultry manure, wheat straw, gypsum, and casing soil, has good water retention, and is odor-free. With benefits such as enhancing soil structure, aeration, and drainage, it also serves as a sustainable choice by repurposing waste, reducing agricultural landfill waste, and lowering greenhouse gas emissions. This versatile compost, high in nutrients, is poised to be a favorite among gardeners and industry professionals.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Compost Market Characteristics
3. Compost Market Trends And Strategies
4. Compost Market - Macro Economic Scenario
5. Compost Market Size And Growth
…..
27. Compost Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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