Compost Global Market Report 2023

NEW YORK, March 1, 2023 /PRNewswire/ -- Major players in the compost market are MyNOKE, NutriSoil, Davo's Worm Farms, Suman Vermi Compost, Wormpower, Kahariam Farms, SAOSIS, Sri Gayathri Biotec, Agrilife, Dirt Dynasty, SLO County Worm Farm, Pacific AG, Dirt Hugger, and Harvest Power.

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The global compost market grew from $6.82 billion in 2022 to $7.4 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The compost market is expected to grow to $9.51 billion in 2027 at a CAGR of 6.5%.

The compost market consists of sales of anaerobic, aerobic and vermicomposting.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The compost refers to a mixture that is used for fertilizing, enhancing soil structure, offering a variety of nutrients to plants, and increasing the number of helpful bacteria in the soil. Compost can be manufactured artificially by creating ideal environment for composting by regulating the aerobic, biological breakdown of biodegradable materials.

Asia-Pacific was the largest region in the compost market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the compost market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main products of compost are yard trimming, food waste, manure, mushroom compost, and vermicomposting.The yard trimming is made from discarded grass, leaves, and tree and brush trimmings from residential, institutional, and commercial sources.

It is also made by chopping woody stalks and twigs with a shovel or machete or run them over with a lawn mower or through a shredder. The application of compost include agriculture, home gardening, landscaping, horticulture, construction, and other applications.

The increasing demand for organic farm products is propelling the growth of the compost market.Organic farm products are grown without synthetic insecticides, growth hormones, antibiotics, chemical fertilizers, and synthetic pesticides.

The demand for organic food increased during the COVID-19 epidemic as people are more inclined toward the consumption of foods that are healthier and better for immunity.Moreover, organic products are regarded as being of a high caliber and as being safer for the environment and human health.

Organic farming widely utilizes compost to increase the fertility of the soil. For instance, in September 2021, the National Institute of Food and Agriculture (NIFA), a division of the U.S. Department of Agriculture (USDA), announced an investment of more than $30 million for 33 grants to help farmers and ranchers who cultivate and sell high-quality organic food, fiber, and other organic goods. Therefore, increasing demand for organic farm products is expected to boost the demand for compost during the forecast period.

Strategic partnership is a key trend gaining popularity in the compost market.Companies and organizations are entering into a partnership with compost manufacturing companies and service providers to use agricultural and domestic waste in a better way.

In August 2021, the city of Durango in Colorado, United States entered into a public-private partnership with Table to Farm Compost.Through this partnership, Durango and Table to Farm will boost voluntary curbside composting participation through education and outreach programs.

The city will assess the feasibility of scaling up toward required participation in three to five years if education and outreach activities are successful. Table to Farm Compost is a US-based residential & commercial compost service that helps Durango households to go green.

In August 2022, Synagro Technologies, Inc., a US-based provider of biosolids and waste management services, acquired Liberty Composting, Inc. The acquisition is expected to increase Synagro's organics and biosolid composting capacity in California, providing more options to the region's current and future client base. Liberty Composting, Inc. is a US-based provider of composting services for organics and biosolids.

The countries covered in the compost market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The compost market research report is one of a series of new reports that provides compost market statistics, including compost industry global market size, regional shares, competitors with a compost market share, detailed compost market segments, market trends and opportunities, and any further data you may need to thrive in the compost industry. This compost market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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