Food Waste Management Market Overview
The global Food Waste Management Market size is expected to reach USD 8,250 million and is projected to reach a CAGR of 15.3% from 2023-2030.
The business and commercial sector that offers products and services for the management and reduction of food waste is referred to as the food waste management market. Due to the increased awareness of the negative effects that food waste has on the environment, economy, and society, this industry has recently attracted more attention. Many businesses and organizations are currently striving to create cutting-edge technology and approaches to address this problem.
Preventing food waste in the first place is the best method to control it. This may be achieved by taking steps like better inventory management, better storage, and handling procedures, and teaching customers about portion control and smart buying. Food that is extra but still suitable for consumption might be given to charities, shelters, or food banks. There are programs in several nations that promote the donation of extra food from families, restaurants, and companies to people in need.
Effective food waste management tackles concern of food security and hunger by ensuring that eatable food reaches those in need in addition to assisting in resource conservation, greenhouse gas emissions reduction, and environmental protection. In order to establish a more sustainable and just food system, it is necessary for individuals, corporations, governmental agencies, and non-profit organizations to work together.
Ozone depletion is brought on by improper garbage disposal, which produces greenhouse gases (GHGs). In order to lessen the effect of GHGs on the environment, governments all over the world are concentrating on the waste management of meat and meat products. Additionally, improper waste disposal contaminates natural resources, which is likely to increase demand for the management of meat waste and fuel industry expansion throughout the course of the projection period.
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The Food Waste Management market size has grown significantly in recent years. However, due to the outbreak of the COVID-19 pandemic, the market experienced a sharp decline in 2020. The emergence of COVID-19 had a favourable effect on the market for food waste management. The pandemic had a profound effect on consumers' spending and consumption patterns. Due to increased food hoarding by customers throughout the world as a result of lockdowns and stringent laws, there has been a surge in food waste, which has created a demand for the food waste management industry.
Delvens Industry Expert's Standpoint
The management of food waste is a crucial component in developing a more sustainable and effective food system. Composting, anaerobic digestion, waste-to-energy options, waste tracking and monitoring systems, waste reduction and prevention solutions, food recovery and redistribution, and others are just a few of the categories that make up the worldwide market for food waste management. In order to address the negative effects that food waste has on the environment, economy, and society, each component is essential. I was unable to give specific growth rates for each segment, but it is anticipated that the market will expand significantly as a result of factors like rising public awareness of the problems with food waste, regulatory pressure, cost-saving and efficiency improvements, technological advancements, and corporate social responsibility initiatives.
Key Findings
- The process segment is further segmented into Aerobic, Anaerobic, Combustion/Incineration, and Others. Over the anticipated years, the sector managing anaerobic digestion is anticipated to have the highest share. Both the industrial and residential sectors employ this kind of management system. In the absence of oxygen, bacteria degrade biodegradable material in this process. Due to its capacity to collect harmful greenhouse gases, it is frequently employed in industrial applications.
- The source segment is further fragmented Into Primary Producers, Manufacturers, Distributors & Suppliers, Service Providers, and Municipalities and Households. The largest proportion is anticipated to come from municipalities and the home sector in the future years. One of the main causes of waste on a worldwide scale is food waste in households. The main factors fueling the market's rapid expansion for food waste management include improper management, stockpiling, and hoarding of perishables. Municipal waste encompasses home and commercial rubbish created within the municipality's boundaries. Debris management technologies are more in demand as municipal dump disposal requirements increase.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Over the course of the projection period, Europe is anticipated to have the largest market share. In the coming years, Asia Pacific is expected to experience rapid expansion. During production and transportation, the area is mostly to blame for waste.
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Food Waste Management Market Regional Analysis
Europe to Dominate the Market
- The Europe region is expected to be the largest region in the Food Waste Management market during the forecast period.
- The Chinese government is putting up a number of programs to cut down on consumable waste. The Clean Your Plate Campaign and other public education initiatives are promoting anti-food debris behavior. The company owners are implementing new business strategies for managing debris utilizing a variety of technology.
Food Waste Management Market Competitive Landscape
- Advanced Disposal Services, Inc.
- Clean Harbors, Inc.
- Covanta Ltd.
- FCC Environment
- Remondis SE & Co. KG
- Republic Services, Inc.
- Stericycle Inc
- Suez
- Veolia
- Waste Connections, Inc.
Food Waste Management Market Recent Developments
- In 2021, SUEZ introduced innovative food waste management solutions, such as the Biomethane from Waste project.
- In 2021, Veolia collaborated with food industry leaders and launched the IncrEATible initiative to tackle food waste in the hospitality sector.
Reasons to Acquire in the Food Waste Management Market
- Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
- Gain authentic and granular data access for Food Waste Management Market so as to understand the trends and the factors involved in changing market situations
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Frequently Asked Questions
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