Global Garbage Disposal Market is estimated to be valued at US$ 2,786.5 Million in 2021, according to Garbage Disposals Market Report, by Product Type (Continuous Feed and Batch Feed), by Application (Residential and Commercial), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
Global garbage disposal market was valued at US$ 2,786.5 Million in 2021. Garbage disposal market is expected to register a CAGR of 4.81% over the forecast period (2022–2030). The Asia Pacific region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Key Trends and Analysis of the Global Garbage Disposal Market:
- Commercial feed segment held the highest market share in 2021, in the global garbage disposals market, owing to the inclusion of multiple grinding chambers in the design. Moreover, few players focusing on initiatives to incorporate continuous garbage disposals in their product portfolio. For instance, in July 2018, Emerson Electric Co. launched its continuous feed type evolution 250 food waste disposer.
Key Takeaways of the Global Garbage Disposal Market:
- Increasing demand for environment friendly garbage disposals over the conventional disposal methods is expected to propel growth of the garbage disposals market. Furthermore, increasing volume of garbage produced globally is driving growth of this market. However, low adoption of garbage disposals due to government restriction on disposing certain food items such as egg shells, bones, and others is expected to restrain growth of the garbage disposals market.
- Asia Pacific is the fastest growing region and held the highest market share during the forecast period, owing to rapid economic growth of countries such as India and China. For instance, India is witnessing inefficient waste infrastructure and increasing rates of solid waste generation per capita. According to the statistics published in the Assocham Conference on 5thnational conference and awards on waste to wealth, India alone generates more than 100,000 metric tons of solid waste per day. Therefore, the demand for garbage disposals in Asia Pacific is expected to increase during the forecast period.
- Europe held the second largest position of the global garbage disposal market in 2021, owing to the presence of regulations imposed by the government of many European countries which states that the hazardous household waste, bio-waste, and textile waste would be collected separately by 2025, and by 2035, the amount of municipal waste landfilled must be reduced to 10% or less of the total amount of municipal waste generated.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global garbage disposal market