Food Waste Management Market New Opportunities, Segmentation Details With Financial Facts By 2030
Food Waste Management Market Overview:
Global food waste management market is projected accrue voluminously by 2030, registering approximately 6.1 % CAGR during the review period (2022 to 2030).
The global food waste management market is growing continually mainly due to the rapidly spreading awareness about waste management and the technological advancements that are increasingly providing solutions for waste management. Management of food waste also delivered some unique advantages such as the generation of electricity, biogas/ natural gas, and compost fertilizers while creating a healthy environment to live. These advantages have further escalated the market on the global platform.
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Global Food Waste Management Market – Competitive Analysis
The global food waste management market appears to be highly competitive and diversified with the presence of many well-established players having a regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the market.
Some food companies voluntarily contact the market players to gain their support & guidance to manage the wastages occurring at each stage of the production cycle. Additionally, these players also support various industry stakeholders to practice food waste management guiding them on how to reduce food waste across the supply chain.
To understand the consumers’ pattern right from the food purchase, preparation, and consumption to approach towards the leftover, food waste management companies conduct regional or countrywide surveys and guide them on the best practices to control wastages.
These food waste management companies also collect the food wasted during the production cycle and household left over. Collection of food is then transported to the processing facilities for segregation, treatment & recycling, and packaging. These food packets are then distributed to needy households.
Key Players:
Some of the eminent leaders of the food waste management market growth include Republic Services, Inc. (U.S.), Andritz Ag (Austria), Veolia Environnement S.A. (France), Waste Connections, Inc. (Canada), Waste Management, Inc. (U.S.), Stericycle, Inc. (U.S.), and Covanta Holding Corporation (U.S.).
Industry/ Innovation/ Related News:
October 03, 2020 – BioHiTech Global, Inc. (US), a leading technology and services company providing cost-effective and sustainable waste management solutions, announced the results of an independent Life Cycle Assessment (LCA) of its aerobic digester solution for food waste conducted by the Department of Civil and Environmental Engineering at the University of Delaware. The results clearly confirmed that its aerobic digester technology is an environmentally friendly alternative to the other means studied in the assessment, specifically the disposal of food waste followed by the release of the effluent to the sewer is an environmentally favorable pathway.
Large amounts of food waste coupled with the lack of land resources creates a situation where the capacity to treat the waste falls short, polluting the environment including air and water. This further promotes the demand for developing the landfills to make a proper residential area to live with a healthy environment.
Food waste is the quality waste which can be reused as protein for animals, and the remaining can be passed to a composting process in a treatment facility that can produce fertilizers.
Food waste management provides some alternative solutions that could also create a circular economy such as generating energy.
With the help of anaerobic digesters filled with bacteria that can break down the material produce biogas containing methane which is further used to produce electricity. Besides, some amount of the biogas can also be converted into compressed natural gas to be used in vehicles as a cleaner biofuel.
Additional factors substantiating the market growth include food processing wastages, burgeoning food & beverages industry, and the implementation of advanced systems such as aerobic and anaerobic digestion processes used for recycling food waste that has proven to be significantly effective in controlling the food wasted in the supply chain.
Furthermore, government initiatives are acting as a dominant driving force for the market growth, increasingly spreading awareness towards the advantages of saving food resources, adopting food waste management. As a result, the food waste management market is increasingly garnering traction, worldwide.
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Global Food Waste Management Market – Segmentation
MRFR has segmented its analysis into four key dynamics for enhanced understanding.
By Processes : Anaerobic Digestion, Aerobic Digestion, Combustion and others.
By Food Waste Types : Processing Waste, Production Waste, Distribution and Supply Chain Waste, Retail Waste and Consumption Waste (household and food services).
By End Users : Fertilizer, Renewable Energy, Animal Feed, Biofuels and others.
By Regions : North America, Europe, APAC, and the Rest-of-the-World.
Global Food Waste Management Market – Regional Analysis
Continuing with its dominance, the food waste management market in the North American region is expected to surge attributing to the wide uptake of advanced technologies in the management of food waste, widespread awareness about the waste management, and the highly penetrated F&B industry. The U.S. and Canada backed with their rapidly growing FWM markets account for key contributors to the market growth in the region.
Also, increasing support initiatives of waste management undertaken by North America’s Solid Waste Association (SWANA) along with the availability of futuristic storage facility for food left over predominantly drive the market growth. Besides, government initiatives funded by public and private sectors provide impetus to the growth in the regional market.
The European region accounts for the second-largest market for food waste management, globally. The market is expected to acquire approximately 25% of the market share during the review period (2020-2027). The Europe FWM market is surging owing to the contributions from the countries such as the UK, Germany, Italy, and France. Growing number of restaurants coupled with the surging food processing industry mainly in France & Italy is expected to support the market growth in the region.
The Asia Pacific region, on the other hand, is rapidly emerging as a lucrative market for food waste management, globally. The improving economy is doing wonders in the already flourishing sectors of F&B and food processing in the region. Besides, the ever-increasing population and rapid urbanization along with the increased investment in food waste management support the market growth in the region.
Improving economic conditions in India and China, the Asia Pacific market for food waste management is expected to witness exponential growth. Increasing adoption of food waste management technologies backed by the increasing restaurant businesses in the region is another key factor driving the regional market.
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