April 17, 2024
Garbage Disposals Market

The Garbage Disposals Market Is Trending Towards Sustainability By 2030

The garbage disposals market involves products that are used to grind food waste produced in households into smaller particles that can easily pass through plumbing pipes. Garbage disposals help households dispose of food waste hygienically and reduce the volume of trash going to landfills. They consist of a grinding chamber and a motion-drive device that is installed under the sink. The convenient grinding function helps households safely dispose of food waste directly into the septic or sewage system.

The Global Garbage Disposals Market is estimated to be valued at US$ 3526.29 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the garbage disposals are Smith & Nephew PLC, Coloplast Group, ConvaTec Group PLC, B. Braun Melsungen AG, 3M Company, Essity Aktiebolag, Cardinal Health Inc., Cardinal Health Inc., Molnlycke Health Care AB, Hill-Rom Holdings Inc., and Integra Lifesciences Holdings Corporation, among others. These key players are focusing on developing innovative and sustainable solutions to gain a competitive advantage in the market.

The growing awareness about environment protection and sustainability is driving the demand for garbage disposals. They help reduce greenhouse gas emissions by minimizing food waste going to landfills. The rising consumer preference for sustainable waste management solutions is boosting the garbage disposals market.

The Global Garbage Disposals Market Size is expanding globally due to the increasing food waste and concerns about sustainable waste disposal. Manufacturers are focusing on emerging economies in Asia Pacific and Latin America, considering the growing middle-class population and their rising focus on green living. Stringent regulations regarding commercial and household waste disposal in countries like China and India are also fueling the industry’s growth.

Market key trends

One of the key trends in the garbage disposals market is the development of energy-efficient and smart garbage disposals. Manufacturers are focusing on improved grind technologies, efficient motors, and automated features that reduce noise and energy usage. Smart disposals linked with IoT enable remote operations and monitoring of performance. This trend is expected to drive significant demand over the forecast period as consumers look for sustainable solutions to reduce their carbon footprint.

Porter’s Analysis

Threat of new entrants: Low sunk and startup costs make entry easier as the technology is simple and standard globally. However, established brands have strong distribution networks and customer loyalty which deters new companies.

Bargaining power of buyers: Buyers have moderate to high bargaining power as they can freely choose between new and established brands. Switching costs are low as core technology is standardized.

Bargaining power of suppliers: Suppliers of raw materials like metals and polymers have low to moderate power. Key materials have many substitutes and suppliers cannot influence prices significantly.

Threat of new substitutes: Low as garbage disposals have few direct substitutes for their food waste disposal function. New technologies may emerge but widespread adoption will take time due to high replacement costs.

Competitive rivalry: High as the market has numerous global and local players. Price competition is intense and companies rely on branding, innovation, and distribution strength to maintain profits.

Geographical Regions

North America accounts for the largest share of around 35% of the global market value in 2024 due to high rates of home ownership and modern kitchen infrastructure in countries like the US and Canada.

The Asia Pacific region except Japan is poised to be the fastest growing market between 2024-2030 with a CAGR exceeding 8%. Rising incomes, western influences, and improving housing standards especially in China and India will drive strong demand growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it