by The South Korea garbage disposals market has been growing significantly over the past decade. Garbage disposals or waste disposers are installed under sink grinders that safely handle food waste by grinding it into small pieces and flushing it down the drain. They help reduce the amount of trash and save time spent on scraping plates and wrapping food waste. Garbage disposals are quite common in residential and commercial kitchens in developed countries due to the convenience they offer.
The Global South Korea garbage disposals market is estimated to be valued at US$ 28.5 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024-2031. Key players operating in the South Korea garbage disposals are Ecube Labs, Cambi ASA, Tana Oy, Veolia, Suez Group, Amandus Kahl GmbH & Co. KG, Granutech Saturn Systems, Presona, Delitek AS, and Wooju Enviotech Inc.
Key Takeaways
Key players: Ecube Labs, Cambi ASA, Tana Oy, Veolia, Suez Group etc. are prominent players in the South Korea garbage disposals market with effective products and global presence.
Key opportunities: Rapid urbanization, decline in landfills, and government initiatives for efficient waste management present lucrative growth opportunities in the South Korea market.
Global expansion: Key players are focusing on business expansion plans across developing countries in Asia Pacific and Latin America through partnerships and acquisitions.
Market Drivers
The South Korea garbage disposals market is driven by rapid urbanization leading to increased municipal solid waste generation. According to the National Statistical Office, South Korea’s urbanization rate rose from 79.8% in 2010 to 83.3% in 2020. Higher proportion of urban population necessitates effective waste management services like garbage disposals in residential complexes and commercial establishments.
PEST Analysis
Political: South Korea’s government promotes environmentally friendly waste management through legislation and initiatives. Strict regulations regarding garbage disposal and recycling are driving adoption of modern equipment like garbage disposals.
Economic: Rising income levels and growth of the housing sector in South Korea are increasing installations of kitchen appliances like garbage disposals. However, high initial costs can be a barrier for some consumers.
Social: Younger consumers are more aware of sustainability and reducing waste. The culture of compact living in South Korea also increases preference for space-saving appliances that can process food waste directly in homes.
Technological: New garbage disposal models feature advanced grinding mechanisms, quieter motors and safety cut-off switches. Connectivity with smart home systems allow remote control and monitoring of the unit.
The Seoul Capital Region dominates South Korea’s garbage disposals market in terms of value. Home to over 25 million people in the densely populated cities of Seoul, Incheon and Gyeonggi Province, the region accounts for a major share of housing construction activity and sales of associated kitchen appliances.
Eastern regions like Gangwon and North Gyeongsang are expected to witness faster market growth during the forecast period. Initiatives promoting eco-friendly upgrades to municipal waste infrastructure in emerging cities will drive higher installations of garbage disposals in new residential projects and remodeling of existing homes in these areas.
What Are The Key Data Covered In This South Korea Garbage Disposals Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the South Korea Garbage Disposals ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the South Korea Garbage Disposals and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- South Korea Garbage Disposals Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of South Korea Garbage Disposals vendors
FAQ’s
Q.1 What are the main factors influencing the South Korea Garbage Disposals ?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top South Korea Garbage Disposals companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the South Korea Garbage Disposals ’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
