| Source: Acumen Research and Consulting Acumen Research and Consulting
BEIJING, Sept. 01, 2022 (GLOBE NEWSWIRE) — BEIJING, September 02, 2022 (GLOBE NEWSWIRE) – The Global Food Waste Management Market Size accounted for USD 39,547 Million in 2021 and is estimated to achieve a market size of USD 64,025 Million by 2030 growing at a CAGR of 5.7% from 2022 to 2030.
Food Waste Management Market Report Key Highlights
• Global food waste management market was worth USD 39,547 million in 2021, with a 5.7% CAGR from 2022 to 2030.
• North America food waste management market dominated with more than 37% market share in 2021.
• Among sources, municipalities and households segment occupied more than 40% of total market share.
• According to the UN Environment Programme, approximately 931 million tons of foods are wasted each year.
• Increasing government rules and regulations for greenhouse gas emissions are driving the food waste management industry
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According to the UNEP, around one-third of all food produced for human use around the globe each year – around 1.3 billion metric tons – is wasted or lost. Food wastage and trash cost around $680 billion in industrialized countries and 310 billion in poor countries. Food waste has become increasingly recognized as a serious global concern for the environment during the last 10 years. However, poor food waste management results in the exhaustion of natural resources, public health difficulties, contamination of oceans and rivers greenhouse emissions from landfills and dumps, and a wasted opportunity to retrieve valuable energy, minerals, organic matter, and water from wasted food. As a result, sustainable food waste management considers measures to decrease the waste that occurs before it takes place. Sustainable food waste management incorporates strategies to limit the environmental and economic consequences of food waste.
Global Food Waste Management Market Dynamics
The global food waste management market size is primarily supported by significant growth in the food and beverage sectors around the world. The increasing consumption of prepared and packaged foods by the general public has resulted in large volumes of food waste generated by restaurants, hotels, and fast-food joints, necessitating the use of food waste management systems for effective collection as well as separation of food waste at the level form. This is being aided by the ever-increasing global population with rising individual purchasing capabilities. Furthermore, the increasing amount of food waste deposited in expansive landfills has compelled governments across several nations to implement appropriate waste management services at the commercial and residential stages in order to reduce waste generation at the source and raise awareness about resource conservation. This, together with the increasing use of biomass for power generation, is producing a bright prognosis for the food waste management market growth. The growing adoption of technical breakthroughs, such as autonomous garbage collection, innovative sensor-based technologies, as well as enzyme-based food management services, is also driving the food waste management market value. Other variables influencing the food waste management market trends include growing industrialization and increased use of biodegradable waste in the manufacturing of fertilizers and animal feeds.
Besides that, as the food industry expands the market for food waste management is anticipated to rise quickly. Due to growing urbanization and industrialization, emerging countries are increasingly utilizing organic waste to make animal feed and fertilizer. Consumers are growing interested in new cuisines and uncommon culinary items such as premium coffee, tropical fruits, and international goods. The increased commerce of food and food ingredients across nations has resulted in the formation of supply chain operations, which has resulted in increased food waste and more severe administration and food management regulations. These are some of the primary drivers of the food waste management market. Furthermore, extensive Research and development efforts and expanding market industrialization of various offerings will create new opportunities for the food waste management market in the upcoming decades.
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The global food waste management market has been segmented by Acumen Research and Consulting based on waste type, process, source, and application. By waste type, the market is separated into cereals, fruits & vegetables, dairy products, fish & sea food, meat, processed food, and others. By process, the market is divided into aerobic, combustion/incineration, anaerobic, and others. By source, the market is classified into primary food producers, food distributors & suppliers, food manufacturers, food service providers, food distributors & suppliers, and municipalities & households. By application, the market is categorized into animal feed, biofuel, fertilizer, and power generation.
Global Food Waste Management Market Regional Outlook
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional classification of the global food waste management market. According to food waste management industry research, the Asia-Pacific region will be the fastest-growing region in the global market over the next few years. This growth is due to rising transit waste in emerging economies such as China, India, and Japan. India is one of the world’s top food manufacturers, contributing to waste generation during consumption, processing, retailing, and production. Furthermore, the increasing demand for enhanced solutions, such as gasification for waste management treatment, is projected to open up new prospects for the regional market in the coming years. The government is making investments in collaborations with foreign firms that have innovative technologies for managing food waste. As a result of these factors, the Asia-Pacific food waste management market is expected to expand in the coming years.
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Food Waste Management Market Players
Some of the prominent food waste management market companies are Veolia Environnement, Waste Management, Inc., Remondis SE & Co. KG, Clean Harbors, Inc., Advanced Disposal Services, Inc., Republic Services, Inc., SUEZ, FCC Environment Ltd., Stericycle, Inc., Covanta Holding Corporation, and Waste Connections, Inc.
Questions Answered By This Report
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