Products Generated from Food Waste Market size is estimated to reach $61.87 Bn by 2025, growing at a CAGR of 4.9% during the forecast period 2020-2025. The causes of food waste are numerous and occur throughout the food system, during production, processing, consumption and retail. The food waste management can be done by converting them to value-added products. Increase in the research and development activities, increase in the investment by the major companies, advancements in technology, increase in the government initiatives and increase in the awareness among individuals are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
By Source- Segment Analysis
Based on the Source, the Mango segment held the largest share in 2019, owing to the factors such as rapid increase in the demand from developing countries, increase in the health consciousness among individuals, increase in the standard of living, growing demand for diversity in diets and increase in the demand for fruits.
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By End User- Segment Analysis
Based on the End User, Food Processing segment held the largest share in 2019 owing to the factors such as increase in the investment by the major companies, growing demand for processed foods, advancements in the food processing industries and increase in the inclination towards sedentary lifestyle. Cosmetics and Personal Care segment is estimated to be the fastest growing segment owing to the factors such as increase in the product launches and innovations, increase in the research and development activities, growing demand for natural products, changing lifestyles, increase in the disposable income of individuals,
By Geography - Segment Analysis
Based on the Geography, North America held the largest share in 2019. The growth in this segment is owing to the factors such as increase in the consciousness among individuals, advancements in technology, sedentary lifestyle, increase in the research and development activities and increase in the demand for natural products. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as increase in the investment by the major companies in the developing nations, increase in the disposable income of individuals and increase in the government initiatives.
Drivers – Products Generated From Food Waste Market
Increase in the research and development activities and advancements in technology
The increase in the research and development activities owing to increase in the demand is estimated to enhance the growth of Products Generated from Food Waste Market. Advancements in technology and increase in the disposable income of individuals are also the factors, which enhance the growth of Products Generated from Food Waste Market.
Increase in the investment by the major companies and increase in the government initiatives
There is a rapid increase in the investment by the major companies owing to the growing demand. This led to rapid increase in the growth of Products Generated from Food Waste Market. Increase in the government initiatives is also estimated to enhance the growth of the Products Generated from Food Waste Market.
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Challenges – Products Generated From Food Waste Market
High price points involved in the manufacturing of products from food waste
High price points involved in the manufacturing of products from food waste is one of the major factors that is estimated to reduce the growth of the Products Generated from Food Waste Market. Lack of awareness regarding patented technologies is also said to reduce the growth of the Products Generated from Food Waste Market.
Products Generated From Food Waste Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Products Generated from Food Waste Market. Key companies of this market are Bio-bean Ltd, Aeropowder, Fruitcycle, Grocycle, Circular Systems S.P.C, ReGrained LLC, Misfit Foods, Snact Ltd, Jrink Juicery, Rise Products among others.
Acquisitions/Product Launches:
In 2020, ReGrained LLC has launched upcycled puffs by hosting online buyer meetings for retailers and the product is created using its patented process by transforming spent brewers grain into a nutritious, versatile and functional ingredient.
In 2018, ReGrained LLC has launched its SuperGrain bar line, which provides a flavorful snack that show cases the nutrition and flavor of its upcycled SuperGrain flour.
In 2019, Bio-Bean has launched a new flavor and fragrance product made from recycled coffee and food grounds. Bio-Bean also claimed that it has made an 80% saving in carbon dioxide emissions against landfill and was reducing emissions by six tonnes every day.
Key Takeaways
Geographically, North America Products Generated from Food Waste Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The increase in the technology and increase in the consciousness among customers is likely to aid in the market growth of Products Generated from Food Waste Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Products Generated from Food Waste Market report.
The increase in the research and development activities and increase in the disposable income of individuals are creating higher opportunities for the growth of market for the forecast period 2020-2025.
Related Reports :
A. Food Waste Management Market
https://www.industryarc.com/Report/15482/food-waste-management-market.html
B. Food By-Products Market
https://www.industryarc.com/Report/17961/food-by-products-market.html
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