Food Waste Management Market To Be Driven By Rising Concerns About Food Waste Growing Across The World In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Food Waste Management Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of global food waste management market, assessing the market based on type, process, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 33.24 Billion
• Forecast CAGR (2023-2028): 5.3%
• Forecast Market Size (2026): USD 43.03 Billion
Even though the conversion of food waste into biofuels and organic fertilizers is a significant driver of the food waste management market growth, issues such as increased risks of fire accidents may restrain the industry’s expansion.
Industry Definition and Major Segments
Food waste is defined as any food that is discarded, regardless of whether it is solid or liquid in consistency. Organic residues, food scraps, and edible food that has been thrown away for whatever reason are included in this category.
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The industry can be divided based on waste type as:
• Dairy Products
• Fruits and Vegetables
• Fish and Seafood
• Processed Food
The industry can be divided based on process as:
• Aerobic Digestion
• Anaerobic Digestion
• Other Processes
The industry can be broadly categorised based on application into:
• Animal Feed
• Power Generation
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Anaerobic digestion served as the market leader and accrued the largest revenue share due to the reduced quantity of pathogens and the benefits of hygiene and sanitation that result from food waste processed using anaerobic digestion. It’s via this process that trash is recovered as an energy and nutrition source, and therefore promotes the expansion of the market.
The North American area, followed by the European region, will hold the highest market share. In the projected period, North America is the fastest expanding food waste management market. This is mainly because of the North American Solid Waste Association (SWANA), which supports and offers various types of services and practices such as residential waste storage and recycling, integrated solid waste management, institutional, commercial or industrial solid waste, in order to reduce waste across the region.
Key Market Players
The major players in the market are Veolia, Suez, Waste Management, Inc. (NYSE: WM), Waste Connections, Republic Services, Inc (NYSE: RSG), Remondis, Covanta and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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