Global Food Waste Management Market Overview
The global food waste management market is expected to size is expected to reach USD 61.12 billion and CAGR of 5.80% % from 2023 to 2030 (forecast period), according to Market Research Future (MRFR).
Food waste management refers to collection, transport, treatment, and disposal of waste in adherence to waste disposal policies. It can gain precedence in developed and developing nations owing to huge consumption of food and waste accumulated from various types of food processing techniques.
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Industry News
Power Knot LLC has gained orders for liquid food composting biodigesters from the University of Nebraska Lincoln, U.S. Sustainable steps taken by the educational institute for disposing of surplus foods and reducing the carbon footprint can bode well for the company.
Key Players
Eminent industry players profiled in the global food management market report include
- Andritz Ag (Austria)
- Waste Management, Inc. (U.S.)
- Veolia Environnement S.A. (France)
- Republic Services, Inc. (U.S.)
- Stericycle, Inc. (U.S.)
- Covanta Holding Corporation (U.S.)
- Waste Connections, Inc. (Canada)
Market Drivers:
Growing Awareness and Concerns:
Increasing awareness about food waste's environmental impact and social consequences has driven individuals, businesses, and governments to take proactive steps towards reducing food waste generation.
Stringent Government Regulations:
Many countries and regions have implemented strict regulations to address food waste management, encouraging businesses and consumers to adopt sustainable practices and technologies.
Rising Need for Resource Efficiency:
Food waste represents a significant loss of resources, including water, energy, and agricultural inputs. As sustainability gains importance, businesses are seeking more resource-efficient practices.
Increasing Adoption of Technological Solutions:
Advanced technologies, such as IoT devices, data analytics, and AI-driven platforms, are being deployed to optimize food supply chains, reduce food spoilage, and enhance food distribution efficiency.
Emergence of Circular Economy Initiatives:
The concept of a circular economy, where waste is minimized, resources are reused or recycled, and products are designed for longevity, has gained traction in the food industry. This approach has contributed to the development of innovative waste management solutions.
Market Segmentation:
The food waste management market can be segmented based on several criteria, including:
Waste Type: This includes food waste from households, restaurants, food manufacturers, and retailers.
Waste Management Method: Solutions can include source reduction, composting, anaerobic digestion, animal feed production, and food rescue programs.
End-User: Segments can be divided into residential, commercial, and industrial end-users.
Regional Analysis
The Food Waste Management Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Food Waste Management Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Food Waste Management Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Food Waste Management Market comprises of Middle East, Africa, and Latin America.
North America has been at the forefront of adopting advanced food waste management practices, driven by stringent environmental regulations, high levels of awareness, and a strong focus on sustainability. Government initiatives and partnerships with private sector entities have played a role in driving food waste reduction and management efforts.
Europe has a well-established food waste management market, with countries like Germany, the United Kingdom, France, and the Netherlands leading the way. The European Union's Circular Economy Action Plan emphasizes reducing food waste and promoting sustainable resource use.
The Asia-Pacific region is experiencing rapid urbanization and industrialization, leading to increased food waste generation. Emerging economies in the region are recognizing the need for effective food waste management to address environmental concerns and resource scarcity.
Furthermore, the rest of the world's Food Waste Management Market is divided into the Middle East, Africa, and Latin America. Latin America faces challenges related to food waste management due to inadequate infrastructure and limited resources. Awareness campaigns and partnerships between governments, NGOs, and businesses are slowly driving improvements in food waste management practices.
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