LONDON--(BUSINESS WIRE)--Sep 7, 2018-- analysts forecast the global food waste disposers market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global food waste disposers market from 2018-2022. (Graphic: Business Wire)
The introduction of innovative and technologically advanced products is one of the major trends being witnessed in the . Vendors are introducing innovative and novel food waste disposers, to differentiate their products and sustain the prevailing market competition. Easy to install, upgrades in horsepower and grinding motor capacity, improvisation in the use of raw materials are some of the attractive features incorporated in food waste disposers.
According to Technavio analysts, one of the key factors contributing to the growth of the global food waste disposers market is the increasing demand from restaurants and hotels:
Global food waste disposers market: Increasing demand from restaurants and hotels
Disposable of the large amounts of food waste that restaurants and hotels generate on a regular basis is a problem for these entities. Food waste disposers are the most appropriate and efficient appliances for commercial entities where the quantity of recurring food waste deposits is high. Restaurants and hotels incur huge expenses for disposing of food waste through the traditional trashing method. This is because the accumulated trash needs to be buried for slow decomposition, which involves huge costs, depending on the quantity.
According to a senior analyst at Technavio for research on home, kitchen, and large appliances, “The restaurants and hotels are effectively adopting food waste disposers as a rational method of disposing off their recurring food wastes. This is because it does not involve recurring costs apart from the one-time capital investment and timely maintenance.”
Global food waste disposers market: Segmentation analysis
The global food waste disposers market research report provides market segmentation by end-user (commercial and residential), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the commercial segment held the largest market share in 2017, contributing to over 57% of the market. This end-user segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 43% share. It was followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: RESTAURANT/BAR HOME GOODS RETAIL
SOURCE: Technavio Research
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PUB: 09/07/2018 07:54 AM/DISC: 09/07/2018 07:54 AM