Press release
Household Food Waste Composting Machine Market to Reach USD 4.58 Billion by 2030
Household Food Waste Composting Machine Market
The global Household Food Waste Composting Machine market is projected to grow from USD 2.9 billion in 2023 to USD 4.58 billion by 2030, registering a CAGR of 6.5% during the forecast period. This growth is fueled by increasing awareness of sustainable waste management practices, rising urbanization, and government initiatives promoting eco-friendly solutions.
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✦ Household Food Waste Composting Machine Market Competitive Landscape
Key players in the Household Food Waste Composting Machine market include Vitamix, SmartCara, Oklin, beyondGreen Biotech, Pela, Reencle, Sepura Home, and Wuxi TOGO Environment Equipment Co. Ltd. These companies are at the forefront of developing innovative composting solutions for residential use.
✦ Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam is experiencing increased adoption of household food waste composting machines due to government-led sustainability initiatives and growing environmental awareness among citizens.
Market Trends in Thailand
Thailand's market is witnessing growth driven by urbanization and government policies encouraging sustainable waste management practices.
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Innovation Growth in Japan
Japan's market is projected to grow at a CAGR of 7.5% during the forecast period, reaching a market size of USD 3.3 billion in 2024. This growth is attributed to technological advancements and a strong emphasis on environmental sustainability.
Consolidation Trends in South Korea
South Korea holds a 29% share of global production in the household food waste composting machine market, second only to Europe. The country is focusing on consolidating its market position through technological innovations and expanding production capacities.
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Updation Trends in Singapore
Singapore is updating its waste management strategies in response to increasing domestic waste, which rose from 1.82 million tons in 2021 to 1.86 million tons in 2022. This has led to a growing demand for household food waste composting machines as part of sustainable urban living initiatives.
Market Opportunities in the United States
The U.S. market is expanding due to a growing interest in sustainable living and gardening. In May 2023, Vitamix partnered with Food Cycle Science Corporation to launch the Eco 5, a premium household food waste composting solution designed to reduce food waste across families.
Expansion Trends in Europe
Europe is the largest production region for household food waste composting machines, holding a 41% share. The market is projected to grow at a CAGR of 5.3%, reaching USD 1.3 billion by 2031. This growth is driven by government policies promoting sustainable waste management and a high adoption rate of eco-friendly appliances.
✦ Household Food Waste Composting Machine Market Mergers & Acquisitions
In May 2023, Vitamix partnered with Food Cycle Science Corporation to introduce the Eco 5, a next-level household food waste composting solution aimed at reducing food waste in families.
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✦ Household Food Waste Composting Machine Market Segmentation
by Product Type
0-50 Kg/Day
50-100 Kg/Day
101-300 Kg/Day
301-500 Kg/Day
by Technology
Batch composting
Continuous composting
Others
by End User
Households
Restaurants
Food processing industries
✦ Key Recent Developments
A study published in the journal "Nature Climate Change" found that household food waste composting machines can reduce methane emissions by up to 80%, highlighting their environmental benefits.
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