February 28, 2024

Rising Emphasis on Waste Management to Boost Growth of the Garbage Disposals Market

The global Garbage Disposals Market is estimated to be valued at US$ 3061.01 Mn in 2023 and is expected to exhibit a CAGR of 15.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

A garbage disposal is a device that shreds food waste to small particles that can easily pass through plumbing pipes and sewage systems. It is installed under the sink and helps grind food products such as coffee grinds, eggshells, fruits and vegetable peels, and bones. Garbage disposals prevents clogging of drains and disposal of biodegradable waste becomes hassle-free. They also eliminate the need to store trash in bins or collecting food waste for composting. Various features such as continuous feed design, high torque motors, and auto-reverse grinding technology make garbage disposals an indispensable kitchen component.

Market key trends:

Rising environmental concerns regarding improper waste disposal practices is a major factor fueling the demand for garbage disposals. Government mandates prohibiting food waste from entering landfill sites or municipal sewer systems has also boosted adoption of garbage disposals for compliance. Moreover, growth in urban population coupled with increasing demand for space-saving and hygienic solutions for waste management in kitchens is augmenting the garbage disposals market growth. Technological advancements such as sensor-operated designs, sound-proof body, and magnetic splash guard further enhances products functionality.

Porter’s Analysis

 

Threat of new entrants: The garbage disposal market requires high initial investments in R&D, manufacturing facilities, and marketing. This poses significant barriers for new players.

Bargaining power of buyers: Buyers have moderate bargaining power in this market due to the availability of various brands offering similar products at competitive prices.

Bargaining power of suppliers: A few major companies dominate the supply of key components like motors and blades. This gives them significant influence over prices.

Threat of new substitutes: No direct substitutes exist for garbage disposals. However, composting and waste segregation offer indirect alternatives.

Competitive rivalry: The market is fragmented with the presence of several international and domestic players. Intense competition keeps pricing pressures and competitive differences minimal.

Key Takeaways

The global Garbage Disposals Market is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing focus on waste management solutions and green living. The garbage disposal helps reduce landfill waste.

Regional analysis: North America dominates the global garbage disposals market, accounting for over 40% share. High awareness about landfill waste reduction and presence of major players drive the North American market. The Asia Pacific market is expected to grow at the fastest rate owing to rising construction of high-rise residential buildings in China and India.

Key players: Key players operating in the garbage disposals market are Emerson Electric Co., Fortune Brands Home & Security Inc., Whirlpool Corporation, Illinois Tool Works Inc., Joneca Corporation, Salvajor, Electrolux AB, Western Industries Plastic Products LLC., Sears Brands, LLC, and Haier Inc., Waste King, and Frigidare. Emerson Electric Co. and Whirlpool Corporation together account for over 30% market share.

*Note:

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