The global Food Waste Management market size is expected to be worth around US$ 52.05 billion by 2028, according to a new report by Vision Research Reports.
The global Food Waste Management market size was valued at US$ 34.24 billion in 2020 and is anticipated to grow at a CAGR of 5.5% during forecast period 2021 to 2028.
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Stringent government regulations across various countries to control the amount of food waste generated and the adoption of proper waste disposal techniques are likely to drive market growth.
Rising demand for packaged and processed foods, owing to changing lifestyles coupled with the increased popularity of quick-service restaurants, is anticipated to complement growth. Growing food items related to trade between countries has led to an increase in the amount of food waste generated due to spoilage during transit, augmenting the service demand.
Growth in the food delivery business of ready-to-eat and pre-prepared food, managed through the e-commerce platform, has changed the way waste is produced. Similarly, packaging waste has witnessed growth in the past few years, whereas the quantity of food waste from households has reduced owing to the decline in residential cooking due to the rising number of working women.
Fruits and vegetables led the market and accounted for 40.10% of the global revenue share in 2020, owing to a lack of proper handling, storage, and processing of the produce. Ease in waste management of fresh produce in the food management industry for the fruits and vegetable segment is expected to have a positive impact on market growth.
The waste generated by the dairy industry is expected to witness a CAGR of 5.8% from 2020 to 2027, owing to the spoilage of products due to unhygienic storage at inappropriate temperatures. The lack of infrastructure for cold storage for dairy products in developing economies is expected to augment the service demand.
Anaerobic digestion led the market and accounted for a 45% share of the global revenue share in 2020, as the food waste treated using anaerobic digestion has a lower number of pathogens and thus, restricts the spread of odor and diseases and promotes hygiene and sanitation. This process helps recover energy and nutrients from the waste, thus leading to market growth.
Combustion/ incineration technology is used for all types of food waste, saving the cost and time of waste segregation. The combustion/incineration process involves the burning of food waste to convert it into heat and ashes. Moreover, it is widely used in economies such as Japan, Germany, Denmark, and Sweden, to generate heat and electricity.
Aerobic digestion is anticipated to expand at a CAGR of 6.7% over the forecast period, as compost obtained from this process is used as fertilizers as it includes potassium, phosphorous, and nitrogen. It incurs significantly less cost, thus making it effective for usage. The aerobic digestors accelerate the natural processes of decomposition, thereby producing water, heat, and carbon dioxide.
Municipalities and households led the market and accounted for 43.10% of the global revenue share in 2020. Rapidly growing population and changing lifestyles are expected to boost the food waste generated from households. The causes of food waste in households include excessive shopping, food preparation in excess, improper food management, lack of cooking skills, and improper storage.
The waste produced by the foodservice providers is estimated to witness a CAGR of 4.6% from 2020 to 2027. This growth is attributed to various factors such as unskilled trimming, overstocking, expiration, spoilage, unidentified demand, inefficient production, and overproduction of food items by hotels, restaurants, street food vendors, and cafes.
Animal feed led the market and accounted for 52.11% of the global revenue share in 2020. Food waste can be directly used as animal feed or processed using a rendering technique and then fed to the livestock without additional costs. As the other types of food waste applications incur extra cost, the application of waste in animal feed is considerably higher.
Food waste undergoes composting or anaerobic digestion to produce digestate, rich in micro-organisms, micronutrients, carbon, and other nutrients such as potash, nitrogen, calcium, and sulfur, magnesium, and phosphate. The appropriate utilization of digestate as fertilizer aids farmers manage soil and reduce the contamination of land and water from the leaching of synthetic fertilizers.
The biofuel application segment is estimated to witness a CAGR of 6.8% from 2020 to 2027, on account of the varying crude oil prices and the rising awareness concerning the use of renewable energy. Favorable government regulation towards biofuel applications is expected to drive the application of food waste as biofuel.
Europe dominated the market and accounted for 32.6% share of global revenue in 2020, owing to excessive shopping, improper food management, overproduction, and negligence for food wasted. However, EU member states are involved in reducing food waste at source and investing in proper disposal techniques for acquiring and fertilizers from such processes.
The adoption of food waste management in the Asia Pacific is estimated to witness a CAGR of 5.03% from 2020 to 2027, owing to high exports of various food products to North American and European countries, thereby increasing food wasted during transit. Governments are investing in cold chain logistics and improving farm productivity to reduce the overall generation of food waste
- Waste Management, Inc.
- Republic Services, Inc.
- Covanta Ltd.
- Stericycle, Inc
- Waste Type Outlook
- Dairy products
- Fruits & Vegetables
- Fish & Sea Food
- Processed Food
- Process Outlook
- Source Outlook
- Primary Food Producers
- Food Manufacturers
- Food Distributors & Suppliers
- Food Service Providers
- Municipalities & Households
- Application Outlook
- Animal Feed
- Power Generation
- Regional Outlook
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- South Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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