The global household composters market size is expected to reach USD 725.5 million by 2028, registering a CAGR of 6.6% over the forecast period, according to a new report by Million Insights. Increased awareness among consumers about home composting and rising demand for compost from the agriculture sector will drive the global market growth in near future. Supportive initiatives undertaken by various governments through municipalities’ public outreach programs to encourage consumers to use household composters will also drive the market.
In addition, increasing awareness about organic farming has highlighted the importance of home composting as it enriches the soil, improves water and soil conservation, protects groundwater quality, and reduces fertilizer requirements. This factor is likely to increase the demand for composters in organic farming, thereby supporting market growth. Rising demand for composters to accommodate wastage generated at the places like schools, restaurants, corporate offices in the form of vegetables & fruits, tea bags, nutshells, eggshells, leftovers, the paper will drive the product demand.
In the U.S., in 2017, 35% of the solid waste collected by municipal was recycled and composted. In 2018, 24.9 million tons of solid waste was composted, which contributed to 8.5% of the total MSW. Yard trimming and food scraps contributed up to 60% of the total composting. Growing awareness about bio-waste management and eco-friendly, organic practices among consumers will drive the market further. Up to 30% of the household garbage, which mostly contains food scraps and backyard waste, is compostable.
A composter is a container, which helps convert solid wastes like food, yard, and kitchen waste into compost in a lesser period compared to the conventional process. The economic slowdown in the Covid-19 pandemic has had a negligible impact on this market. The pandemic has highlighted the importance of organic products due to their health benefits. This has resulted in a consumer shift towards growing organic produce in backyards, which, in turn, supports the market growth. However, reduced disposable incomes due to the economic slowdown may restrict the demand for gardening materials.
The report “Household Composters Market Size, Share & Trends Analysis Report By Capacity (51-100 Gallons, Above 100 Gallons), By Product Type (Tumbler, Stationary), By Material (Plastic, Metal), And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global household composters market on the basis of product type, material, capacity, and region: