Food Waste Management Market is estimated to be US$ 106.14 billion by 2030 with a CAGR of 6.2% during the forecast period
Food Waste Management Market accounted for US$ 57.96 billion in 2020 and is estimated to be US$ 106.14 billion by 2030 and is anticipated to register a CAGR of 6.2%. Food waste management refers to the removal of food that is or was fit for human consumption from the food supply chain. Food wastage is primarily caused by poor economic behavior, poor stock management, or individual negligence, as well as outdated food supplies. Food waste management encompasses a number of strategies that have the ability to turn waste food into a variety of goods, including fertilizers and compost.
The report "Global Food Waste Management Market, By Waste Type (Cereals, Dairy Products, Fruit and Vegetable, Meat, Fish and Seafood, Oilseeds and Pulses, Processed food, and Coffee Grounds and Tea), By Process (Aerobic Digestion (Composting), Anaerobic Digestion, Incineration/ Combustion, and Others (Redistribution, Minimization, and Disposal)),By Application (Feed, Fertilizer Biofuel, and Power Generation), By End-User (Primary Food Producers, Food Manufacturers, Food Distributors and Suppliers, Food Service Providers, and Municipalities and Households), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029.’’
Key Highlights:
· In December 2021, ReFED and Upcycled Food Association – leading national nonprofits working to reduce food loss and waste across the food system and attract more investment to the space – have launched the first-ever Food Waste Funder Circle. A dedicated network to support private, public, and philanthropic funders who want to use their capital to scale a full range of solutions to food waste, the Food Waste Funder Circle offers a curated platform for education, collaboration, and investment to close the gap in capital needed to reach the national goal to reduce food waste by 50% by the year 2030.
Analyst View:
Food wastage is on the rise all over the world, which is propelling the global food waste management industry forward. Furthermore, the increased usage of organic waste for the manufacture of animal feed and fertilisers, as well as the need to reduce greenhouse gas emissions, are driving the target market forward. However, the use of landfill and incineration to dispose of waste food, both of which have negative environmental consequences, is a major problem impeding the target market's growth.
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Key Market Insights from the report:
Global Food Waste Management market accounted for US$ 57.96 billion in 2020 and is estimated to be US$ 106.14 billion by 2030 and is anticipated to register a CAGR of 6.2%. Global Food Waste Management market is segmented into waste type, process, application, end-user and region.
· Based on Waste Type, the Global Food Waste Management Market is segmented into Cereals, Dairy Products, Fruit and Vegetable, Meat, Fish and Seafood, Oilseeds and Pulses, Processed food, and Coffee Grounds and Tea.
· Based on Process, the Global Food Waste Management Market is segmented into Aerobic Digestion (Composting), Anaerobic Digestion, Incineration/ Combustion, and Others (Redistribution, Minimization, and Disposal).
· Based on Application, the Global Food Waste Management Market is segmented into Feed, Fertilizer Biofuel, and Power Generation.
· Based on End-user, the Global Food Waste Management Market is segmented into Primary Food Producers, Food Manufacturers, Food Distributors and Suppliers, Food Service Providers, and Municipalities and Households.
· By Region, the Global Food Waste Management Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Food Waste Management Market:
The key players in the global Food Waste Management market includes Veolia Environnement S.A., SUEZ S.A., Waste Management, Inc., FCC Environment Ltd., Remondis SE & Co. KG, Stericycle, Inc., Clean Harbors, Inc., Covanta Holding Corporation, Advanced Disposal Services, Inc., Waste Connections, Inc., and Republic Services, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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