PUBLISHER: Acute Market Reports | PRODUCT CODE: 1236726
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1236726
The global food waste management market was valued at approx. USD 67 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 5.4% from 2023 to 2031. Food wastes mainly consists of oils, fats, and by-products of animals which is converted into saleable commodities that includes tallow, high protein meat, and grease among others. These commodities are used in production of biofuels, soap, animal feed, cosmetics, toothpaste, leather, lubricants, pharmaceuticals, etc. Food waste is emerging as a social and economic problem with consequential implications on environment. Food wastage is set to rise at an alarming rate thereby hosting various challenges for the food industry during the forecast period, consequently leading to the growth of food waste management market. In addition, unwanted dump resulting from food at marriages, parties, restaurants, and hotels also supports the need of a proper food waste management. All these factors are contributing to the growth of food waste management market during the forecast period.
Food waste utilization as a renewable source of energy is an important factor driving the global food waste management system market. Food waste is one of the source of methane which is utilized as a renewable source of energy to power the various treatment plants. Trend shows that major share of feed litter generated from food waste is recycled to produce organic fertilizers or animal feed leading to the growth of global food waste management market. On the other hand, emergence of new technologies for disposal of waste followed by need for generating alternative source of energy serves as opportunities in the global food waste management market.
The global food waste management is segmented by waste type, application, and process. Based on waste type, the market is categorized into fruits and vegetables, cereals, fish & seafood, processed foods, dairy products, coffee grounds & tea, meat, and oilseeds & pulses.
In 2022, fruits and vegetables held the largest share in terms of value. Fruits and vegetables waste is mainly generated owing to adversity of retailer quality standards followed by overproduction which in turn is expected to bolster the demand of this segment during the forecast period. In terms of application, the global food management waste market is further segmented into animal feed, biofuel, fertilizers and power generation.
In 2022, animal feed held the largest market share in terms of value. Food waste is basically recycled to produce animal feed. Owing to the high prices of traditional animal feed, manufacturers are shifting towards recycled food waste as animal feed production from food waste is the ecological and economical method of management of food waste. In terms of process, the market is further segmented into aerobic digestion, incineration or combustion, anaerobic digestion, and others (redistribution, minimization, and disposal). Anaerobic digestion is the widely used process owing to the fact that this process causes less environmental pollution.
Based on the geographical segment, the region with largest market share of the food waste management market in terms of value was North America in 2022. Product innovations in the process of food waste management offered by key players such as Republic Services Inc. and Waste Management, Inc. among others is bolstering the growth of this market in this region. Europe followed North America in the global food waste management market. Asia Pacific region is projected to be the fastest growing region during the forecast period. owing to increasing feed dumps in countries that includes India and Malaysia.
Key players across the food waste management value chain are:
Suez Environment, Waste Management Inc., Republic Services Inc., Veolia Environment, Covanta Holding Corporation, Waste Connections, Inc., Biffa Group Limited, Advanced Disposable Services Inc., Rumpke Consolidated Companies, Inc., Clean Harbors, Inc., Remondis SE & Co. Kg, Stericycle, Inc., FCC Environment Ltd., CT Environmental Group Ltd., Recology Inc., DeIorio's Foods Inc., Cleanaway, FCC Recycling (UK) Limited, DS Smith And Others.
Recent Developments:
August 2021: Clean Harbors joined forces with a leading manufacturing firm, 3M, for a novel collaborative effort to offer the best-in-class status to the latter's operations in waste handling and management aspects.
January 2020: Veolia became the first recycling and waste company to sign up as an enabling partner by signing up for the UK Food Waste Reduction Roadmap initiative to help businesses limit food waste by 50% by 2030.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Food Waste Management market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Food Waste Management market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Waste Types
Fruits and Vegetables
Cereals
Fish and Seafood
Processed foods
Dairy products
Coffee Grounds & Tea
Meat
Oilseeds and pulses
Application
Animal Feed
Biofuel
Fertilizers
Power Generation
Process
Aerobic Digestion
Incineration /Combustion
Anaerobic digestion
Others(Redistribution, Minimization, and Disposal)
Region Segment (2021-2031; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Food Waste Management market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2031.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Food Waste Management market?
Which is the largest regional market for Food Waste Management market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Food Waste Management market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Food Waste Management market worldwide?