NEW YORK, July 3, 2024 /PRNewswire/ — The global household composters market size is estimated to grow by USD 497.1 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.25% during the forecast period. Effective supply chain management is driving market growth, with a trend towards increased investment in R and D. However, availability of alternative solutions poses a challenge. Key market players include Algreen Products Inc., Enviro World Corp., Envirocycle Systems Inc., Forest City Models and Patterns Ltd., Good Ideas Inc., Jora Composters, Natures Footprint, Inc., Sampoorn Zero Waste Pvt. Ltd, SCD Probiotics, LLC, Schiller Grounds Care Inc., The Scotts Miracle Gro Co., and Track Trading Co..
Technavio has announced its latest market research report titled Global household composters market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
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Household Composters Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.25% |
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Market growth 2024-2028 |
USD 497.1 million |
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Market structure |
Concentrated |
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YoY growth 2022-2023 (%) |
5.5 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 36% |
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Key countries |
US, Germany, France, UK, and Italy |
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Key companies profiled |
Algreen Products Inc., Enviro World Corp., Envirocycle Systems Inc., Forest City Models and Patterns Ltd., Good Ideas Inc., Jora Composters, Natures Footprint, Inc., Sampoorn Zero Waste Pvt. Ltd, SCD Probiotics, LLC, Schiller Grounds Care Inc., The Scotts Miracle Gro Co., and Track Trading Co. |
Market Driver
Vendors are investing significantly in research and development (R&D) to create advanced household composters. For instance, Enviro World Corporation has allocated over a million dollars towards product and service innovation since 2009. Their primary goal is to deliver unique, top-tier, and distinct composters for both residential and commercial consumers. This substantial investment in R&D is projected to fuel market growth throughout the forecast period.
The household composters market is experiencing significant growth due to increasing consumer awareness regarding waste reduction and sustainability. Consumers are looking for convenient and effective ways to manage kitchen waste at home. Composting is an eco-friendly solution that converts organic waste into nutrient-rich soil. Companies are responding to this trend by producing a variety of composters, from simple tumblers to automated systems. These composters come in different sizes and designs, catering to various household needs. The market is also witnessing the introduction of composting bins with features like odor control, easy emptying, and compact designs. The future of the household composters market looks promising as more people adopt this practice to reduce their carbon footprint and contribute to a greener environment.
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Market Challenges
The household composters market may face challenges due to the availability of alternative methods like packaged manure, composting techniques, and civic waste collection. Additionally, factors such as low gardening interest, time constraints, chemical fertilizer usage, and real estate growth may negatively impact market expansion over the next five years.
The household composters market faces several challenges. One major challenge is the lack of awareness and education about the benefits of composting and the proper use of composters. Another challenge is the availability and accessibility of affordable and effective composters for households. Additionally, the market is fragmented with numerous players offering various types of composters, making it difficult for consumers to make informed decisions. Furthermore, the market is influenced by factors such as government regulations, consumer preferences, and technological advancements. Addressing these challenges requires a multi-pronged approach, including education and awareness campaigns, affordable pricing strategies, and innovation in composter technology.
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Segment Overview
This household composters market report extensively covers market segmentation by
Product
1.1 Tumbler
1.2 Stationary
1.3 Compacting
Material
2.1 Plastic
2.2 Metal
2.3 Others
Geography
3.1 Europe
3.2 North America
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Tumbler- Household composters market is experiencing steady growth due to increasing environmental consciousness and government initiatives. Consumers are recognizing the benefits of composting at home, such as reducing waste and improving soil quality. Manufacturers are responding with innovative designs and affordable prices, making composters accessible to a wider audience. This trend is expected to continue, as more households seek sustainable solutions for managing their kitchen and yard waste.
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Research Analysis
The Household Composters market is experiencing significant growth due to the increasing awareness of eco-friendly practices and the need for sustainable waste management solutions. Households are increasingly turning to composting as a means of managing kitchen waste, food scraps, and garden waste, thereby reducing the amount of solid waste sent to landfills. Composting is an organic process that converts bio waste into nutrient-rich compost, which can be used as organic manure for gardening practices. This not only reduces the reliance on chemical-based fertilizers but also promotes food safety and hygiene. Household composters come in various forms, including self-composting systems and Solar digesters, which offer hygienic value, germ control, and odor reduction. Specialty stores and supermarkets are key distribution channels for these composters, making them easily accessible to households.
Market Research Overview
The household composters market encompasses the production, sales, and distribution of composters designed for use in residential settings. These composters facilitate the decomposition of organic waste into nutrient-rich soil, reducing the need for synthetic fertilizers and minimizing waste. Composting systems vary, including static pile composting, vermicomposting, and tumbler composters. The market growth is driven by increasing environmental awareness, government regulations, and consumer demand for sustainable waste management solutions. The compost produced can be used for gardening and landscaping purposes, further enhancing its value. The market faces challenges such as odor control, space requirements, and consumer education on proper usage. Overall, the household composters market presents a significant opportunity for innovation and growth in the waste management industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Tumbler
Stationary
Compacting
Material
Plastic
Metal
Others
Geography
Europe
North America
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio