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Compost Global Market: Trends and Market Growth Insights | 2024 To 2033 Key Players MyNOKE, MEC Recycling Corporation, Davo's Worm Farms, Veolia Environnement S.A., AGRN Group Inc.
Compost Global Market Share
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According to The Business Research Company's, 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 Drivers and Trends:
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.
Strategic partnership is a key trend gaining popularity in the compost market. Companies and organizations are entering into a partnership with compost manufacturing companies and service providers to use agricultural and domestic waste in a better way. In August 2021, the city of Durango in Colorado, United States entered into a public-private partnership with Table to Farm Compost. Through this partnership, Durango and Table to Farm will boost voluntary curbside composting participation through education and outreach programs. The city will assess the feasibility of scaling up toward required participation in three to five years if education and outreach activities are successful. Table to Farm Compost is a US-based residential & commercial compost service that helps Durango households to go green.
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Major Key Players of the Market:
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
Compost Market 2024 Key Insights:
• 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%.
• Increasing Demand For Organic Farm Products Drives Demand For Compost
• Strategic Partnerships For Sustainable Waste Management
• Asia-Pacific was the largest region in the compost market in 2023
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