LONDON--(BUSINESS WIRE)--The household composter market size is poised to grow by USD 329.38 million during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The adoption of online sales platforms is greatly benefitting the sales growth for household composters. The vendors are increasingly using their websites and e-retailing platforms for listing their products and capitalizing on the popularity and improving product visibility. Vendors are also employing online expert consultation, awareness campaigns, waste diversion strategies, aggressive advertisement strategies, and other green initiatives to position their products among potential customers. Growing use of smartphones and the Internet has flourished the use of social media which has induced vendors to promote their products through such platforms by timely posting persuading advertisements, images, blogs and videos. Companies are also using digital marketing tools to channel customer traffic towards their websites.
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Report Highlights:
- The major household composter market growth came from the tumbler segment. The product segment includes stationary, tumbler, and compacting household composters. Tumblers offer easy rotating/turning and mixing features that accelerate the process of decomposition. The availability of a wide range of products with different shapes and capacities as per the consumer requirements and quick composting benefits are driving the adoptions of tumbler household composters.
- Europe was the largest household composter market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Noteworthy improvements in living standards, urbanization, and consumer inclination toward cost-effective and hassle-free waste management systems are some of the factors that will significantly influence household composters market growth in this region.
- The household composter market is fragmented. Algreen Products, Inc., Enviro World Corp., Envirocycle Systems Inc., Exaco Trading Co., Forest City Models, and Patterns Ltd., Good Ideas Inc, Natures Footprint, Inc., Presto Products Co., Schiller Grounds Care, Inc., and The Scotts Miracle-Gro Co. are some of the major market participants. To help clients improve their market position, this household composter market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the household composter market 2020-2024 is expected to have Positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Presence of Stringent Laws to Regulate Household Waste Disposal and Recycle Management will be a Key Market Trend
The presence of stringent laws to regulate household waste disposal and recycle management is driving significant growth in the adoption of household composters. Rising concerns to reduce the accumulation of waste is encouraging governments to undertake waste recycling initiatives. For instance, Philadelphia in the US initiated a campaign to become a zero-waste city by 2035. The initiative has mandated legal implementation for newly constructed residential buildings to have composter and food waste grinders. Such initiatives are driving the adoption of composters in household use.
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Household Composter Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist household composter market growth during the next five years
- Estimation of the household composter market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumers behavior
- The growth of the household composter market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of household composter .market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Tumbler - Market size and forecast 2019-2024
- Stationary - Market size and forecast 2019-2024
- Compacting - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Algreen Products, Inc.
- Enviro World Corp.
- Envirocycle Systems Inc.,
- Exaco Trading Co.
- Forest City Models and Patterns Ltd.
- Good Ideas Inc
- Natures Footprint, Inc.
- Presto Products Co.
- Schiller Grounds Care, Inc.
- The Scotts Miracle-Gro Co.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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