PUBLISHER: The Business Research Company | PRODUCT CODE: 1426312
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426312
A household food waste composting machine is a device designed to compost both solid and liquid food waste generated within a household. It processes this waste to produce nutrient-rich soil additives that can be utilized in gardens to enhance soil fertility. These machines are employed to reduce waste by recycling and treating food waste, offering a sustainable alternative to traditional disposal methods, saving space, and decreasing the reliance on chemical fertilizers.
The main types of household food waste composting machines are categorized as indoor and outdoor. An indoor household food waste composting machine is specifically designed for indoor use, often placed in the kitchen, to transform organic food waste into a valuable, nutrient-rich soil amendment. These machines come in various price ranges, including low, medium, and high, catering to different consumer needs and preferences. Additionally, they are distributed through various channels, encompassing direct sales and indirect sales, to make them accessible to a wide range of users.
The household food waste composting machine market research report is one of a series of new reports from The Business Research Company that provides household food waste composting machine market statistics, including household food waste composting machine industry global market size, regional shares, competitors with a household food waste composting machine market share, detailed household food waste composting machine market segments, market trends, and opportunities, and any further data you may need to thrive in the household food waste composting machine industry. This household food waste composting machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed in the historical period for household food waste composting machines can be attributed to several factors. These include the growing environmental awareness among individuals, a widespread shift towards sustainable practices, government initiatives and regulations promoting waste reduction and recycling, the rise in urbanization leading to increased waste management concerns, and educational campaigns and outreach efforts promoting eco-friendly practices. These factors collectively contributed to the increased adoption of household food waste composting machines as part of broader efforts to address environmental challenges and promote sustainable living during the historic period.
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 anticipated growth in the forecast period for household food waste composting machines can be attributed to several factors. These include an increasing focus on the circular economy, the implementation of waste management policies, growing consumer demand for eco-friendly solutions, the integration of these machines with municipal composting programs, and ongoing educational and outreach initiatives promoting sustainable waste practices. Major trends expected in the forecast period encompass energy-efficient operation of composting machines, the incorporation of automated mixing systems to enhance efficiency, the use of biodegradable bags and liners for waste containment, and ongoing innovation in product design to make composting processes more effective and user-friendly.
The household food waste composting machine market is anticipated to experience growth driven by the escalating volume of waste generated. Waste denotes products or substances that have expired or are no longer suitable for their original purpose. These machines serve the purpose of recycling and processing food waste to produce natural fertilizers, effectively reducing waste. As per the National Environment Agency's data released in May 2023, Singapore generated 7.39 million tons of solid waste in 2022, with domestic waste production increasing from 1.82 million tons in 2021 to 1.86 million tons in 2022. Hence, the burgeoning waste production is a driving force for the household food waste composting machine market's growth.
The household food waste composting machine market is poised for expansion owing to the increasing trend of gardening. Gardening involves the cultivation of plants, and these composting machines offer a practical and environmentally friendly means to transform kitchen scraps into compost, beneficial for gardens without the need for chemical fertilizers. An April 2021 report from the National Gardening Association noted the addition of 18.3 million new gardeners in the United States. This surge was partly influenced by the COVID-19 pandemic, with 42% of gardeners intensifying their gardening pursuits in 2021. Consequently, the rising inclination toward gardening is fueling the growth of the household food waste composting machine market.
A notable challenge in the household food waste composting machine market is the lack of knowledge and education among consumers. This scarcity of awareness about the advantages of food waste composting or the availability of composting machines can impede their adoption. Many consumers remain unaware of the environmental benefits associated with composting, such as reducing landfill waste and curbing harmful methane emissions. Instead, they continue conventional methods of food waste disposal such as discarding it in the trash. An article published by AIMS Press in April 2022 highlighted a survey of 8,000 individuals, indicating that over 80% of participants desired more information about composting. Even among individuals with higher education, roughly 83% possessed minimal knowledge about fertilizers and compost. This widespread lack of understanding, regardless of age or gender, indicates a general lack of awareness about fertilizers, indicating a potential hurdle in the household food waste composting machine market's growth.
Key players within the household food waste composting machine market are dedicated to crafting cutting-edge machines such as Lomi to establish a competitive edge. Lomi, introduced by Pela in April 2021, is the world's first kitchen product capable of transforming food waste, cardboard, clothing, and bioplastics into soil within a 24-hour timeframe. Its advanced design accelerates the breakdown of food waste into fragmented biomass, promoting microbial growth and expediting the composting process. The resulting natural soil additive enriches soil organic content, supplying essential macronutrients and micronutrients.
In May 2023, Vitamix, a United States-based manufacturer of household food waste composting machines, joined forces with Food Cycle Science Corporation, a cleantech company based in Canada. This collaborative effort resulted in the introduction of the Eco 5, a premium upgraded version of the FoodCycler, aimed at minimizing food waste within households. The Eco 5 incorporates technology from Food Cycle Science and benefits from the design and manufacturing expertise of Vitamix.
Major companies operating in the household food waste composting machine market report are 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.
North America was the largest region in the household food waste composting machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the household food waste composting machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the household food waste composting machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The household food waste composting machine market consists of sales of kitchen waste composters, compost bins, and dry compost fertilizers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Household Food Waste Composting Machine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on household food waste composting machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for household food waste composting machine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The household food waste composting machine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.