As stated in our extensive report, the Global Household Food Waste Composting Machine Market accounted for USD 2,839.1 Million in the year 2021.Unwanted solid material generated because of human activity is referred to as solid waste. Most of the solid waste comes from residential, commercial, and industrial activity. Organic matter, wastepaper, waste plastic items, glass, and metal products are the most common types of solid waste. Solid waste management refers to the collection, processing, and disposal of waste materials in a manner that ensures public health and addresses environmental issues. Industrial and municipal garbage, urban and rural areas, and developed and developing countries all have different solid waste management practices. Solid waste treatment is given more priority for leading superior quality of life and for overall economic development because its major goal is to maintain human and environmental health.
Smart waste management services have ushered in a new technology era in the market. Traditional waste collection methods are resource-intensive and rely on pre-determined routes on a regular basis. As a result, there is occasionally unnecessary waste of available resources. New Internet of Things (IoT)-based solutions can help improve waste collection, analyze waste filling patterns, optimize driver schedules, and save operational expenses. With the falling cost of sensors, loT-based waste collecting bins are projected to become a viable smart waste management option in the near future.
The growth of the waste management industry is being fueled by a growing awareness of the benefits of waste management. People are more aware of the benefits and downsides of hazardous solid waste disposal on human health and the environment as a result of the widespread availability of solid waste information over time. Waste management provides not only environmental and health benefits but also social and economic benefits. Waste management improves the environment's aesthetics and conserves natural resources by minimizing pollution in the air, water, and soil. Waste collection on time helps to prevent the spread of vector-borne diseases and improves personal hygiene. It also reduces greenhouse gas emissions such as methane and carbon monoxide, which contribute to the significant problem of global warming.
In 2019,North Americaheld the biggest market share. Most European countries have high incomes and are well-connected to solid waste treatment systems. As a result, European countries' average garbage collection rate is high. In addition, the large number of waste-to-energy plants in this region is propelling the industry forward. InNorth America, there are about 500 waste-to-energy plants in operation.
Notable and prominent players in the GlobalHousehold Food Waste Composting Machine Marketinclude,Bhor Engineering Pvt. Ltd., BioHiTech Global, Emerson Electric Co., K.C.S Engineering Works, KK Balers Ltd., Oklin International Ltd., Reddonatura India Private Limited, Ridan Composting Ltd., Whirlpool Corporation, WISErg Corporation and others.