Food Waste Management Market is Expected to Reach USD 63.30 Billion By 2029 At a CAGR of 5.8 percent.
Maximize Market Research’s Food Waste Management Market report contains extensive data for the forecast period of 2022 to 2029. The food Waste Management Market was valued at USD 40.32 Billion in 2021, and it is expected to reach USD 63.30 Billion by 2029, exhibiting a CAGR of 5.8% during the forecast period (2022-2029).
Food Waste Management Market Overview:
Food waste management includes all procedures and activities necessary to control waste from beginning to end. Management of food waste includes oversight and control as well as garbage collection, transportation, treatment, and disposal. One of the main causes of the rising demand for food waste management is food processing waste, which includes waste from the processing of poultry, meat, and seafood as well as waste from the processing of agricultural produce, dairy food processing waste, and waste from other types of food processing.
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Food Waste Management Market Dynamics:
The MMR report examines market elements from both the demand and supply sides, as well as market characteristics that will affect the market during the forecast period, such as drivers, constraints, opportunities, and future trends.
The global market for food waste management has witnessed substantial growth over the past few years, mainly owing to the increasing concerns about the wastage of food on a global level. Food waste has increased as a result of rising manufacturing and consumption rates brought on by the world’s expanding population. The shift in customer tastes and preferences, as well as their propensity for novel and exotic foods, tropical fruits, the desire for imported goods, etc., have all contributed to the market’s expansion. New supply chains have been established as a result of international trade in food ingredients and completed goods, which has increased the amount of food waste produced and fuelled the expansion of the food waste management industry.
The use of conventional waste disposal techniques, such as incineration and landfilling, has negative environmental implications since the gases created through these techniques contribute to global warming and climate change. For this reason, it has become a barrier to the market’s expansion. Utilizing cutting-edge methods for the treatment of trash, such as gasification, is a current industry trend that could present new business prospects for market participants.
Food Waste Management Market Regional Insights:
The report offers a brief analysis of the major regions in the market, namely, APAC, Europe, North America, South America, and the Middle East & Africa. In 2021, North America maintained the greatest market share for global food waste management. This is because of the Solid Waste Association of North America’s (SWANA) expanding support for and initiatives in garbage management, which include housing for household, institutional, commercial, and industrial waste. Due to the significant export of various food products to North American and European nations, which results in increased food waste during transit, food waste management adoption is anticipated to rise quickly in the Asia Pacific region. Governments are making investments in cold chain logistics and raising farm production to reduce the overall generation of food waste.
Food Waste Management Market Segmentation:
by Waste Type
- Dairy Products
- Fruit & Vegetable
- Fish & Seafood
- Oilseeds & Pulses
- Processed Food
- Coffee Grounds & Tea
- Aerobic Digestion
- Anaerobic Digestion
- Incineration/ Combustion
- Power Generation
- Primary Food Producers
- Food Manufacturers
- Food Distributors & Suppliers
- Food Service Providers
- Municipalities & Households
Food Waste Management Market Key Competitors:
- Veolia Environnement
- Waste Management, Inc.
- Republic Services, Inc.
- Covanta Ltd.
- Stericycle, Inc.
- Advanced Disposal Services, Inc.
- Waste Connections, Inc.
- FCC Environment
- Remondis SE & Co. KG
- Clean Harbors, Inc.
In recent years, the market for Food Waste Management has become more competitive. Few of the big competitors now control the majority of the market in terms of market share. These significant firms, which hold a sizable market share, are concentrating on growing their consumer base internationally. These businesses are using smart joint ventures to boost their market share and profitability.
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