by The global garbage disposals market plays an important role in managing kitchen waste efficiently. Garbage disposals provide an effortless way to grind food waste directly into small particles that can easily be flushed through plumbing pipes. Installing a garbage disposal unit under the kitchen sink saves time and effort spent in collecting and throwing garbage. They help reduce waste that normally ends up in landfills. The small particles can also be used as compost for gardens and plants. The growth in urbanization and nuclear families has increased kitchen waste exponentially. Highrise apartments with limited space for waste storage find garbage disposals very useful.
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 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the garbage disposals market is the growing demand for sensor-based and voice-controlled garbage disposals. Modern disposals come with touch pads, motion sensors or can even be operated through voice commands for hands-free operations. This provides improved hygiene as users need not touch any parts of the unit. Voice command models are gaining more traction among homeowners as it offers convenience. Manufacturers are also focusing on building units with more powerful motors that can handle tougher waste like chicken and fish bones with ease. Some brands have disposals with sound proofing features that reduce noise. With sustainable living gaining prominence, products with lower energy consumption are being increasingly preferred. Disposal units with ENERGY STAR certification meet strict energy efficiency guidelines set by the US Environmental Protection Agency and Department of Energy.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brand value of existing players make entry difficult for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, existing players have strong brand value.
Bargaining power of suppliers: Suppliers have low bargaining power due to the fragmented nature of raw materials.
Threat of new substitutes: Substitute products like waste disposers provide competition but limited substitutes exist for specific medical adhesives product use.
Competitive rivalry: Intense competition exists among existing players to gain market share and achieve economies of scale. Players compete based on product quality, price, and expansion to new regions.
Key Takeaways
The Global Garbage Disposals Market Demand is expected to witness high growth. Rapid urbanization and rising health expenditure are fueling market growth. 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 6.2% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the market and is expected to continue its dominance during the forecast period. Wide product adoption and stringent regulations regarding medical waste management are driving the North American market. Asia Pacific is expected to exhibit the fastest growth rate owing to rising medical tourism and increasing healthcare expenditure in the region.
Key players: Key players operating in the Garbage Disposals market 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. Players focus on new product launches and expansion strategies to gain a competitive edge. For instance, Smith & Nephew expanded its advanced wound management portfolio through the acquisition of Advanced Medical Solutions in 2019.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
