Food Waste Management Market Trends Growth Analysis 2021-2026


Posted October 26, 2021 by Krshna

Food Waste Management Market was predicted to be worth USD 34.22 billion. From 2020 to 2027, it is predicted to increase at a compound annual growth rate (CAGR) of 5.4%

 
Market Overview:-
In 2019, the Food Waste Management Market was predicted to be worth USD 34.22 billion. From 2020 to 2027, it is predicted to increase at a compound annual growth rate (CAGR) of 5.4 percent. This increase can be ascribed to growing worldwide worries over food waste. Consumer demand for new types of food and exotic foods, such as tropical fruits, premium coffee, and imported goods, is likely to keep pace with expansion. Increased trading of food and food ingredients across countries has resulted in the creation of new supply chains, which has resulted in an increase in food waste. As a result, governments and food management authorities have enacted more strict laws, boosting industry growth.
Drivers and Restraints:-
The expansion of the food waste management market is mostly due to rapid growth in the food sector. The rising trend of dining out, increasing number of restaurants, hotels, quick service restaurants, and other food outlets require better and advanced food waste management techniques. Moreover, increasing food wastage mainly in the food supply chain since the last decade, due to this several systems are installed including aerobic and anaerobic digestion processes for recycling food waste.
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The demand for food waste management solutions has increased as a result of rising population, increased environmental awareness, and fast industrialisation. Furthermore, rising public awareness about the importance of reducing food waste is a major factor driving demand in the worldwide food waste management market.
Market segmentation:-
By Type
● Cereals
● Dairy Products
● Fruits & Vegetables
● Meat
● Fish & Seafood
● Processed Food
In the type of segmentation of the global food waste management market, the fruits and vegetable segment has held for a significant market share of revenue with over 40.6%owing to their improper handling, processing, storage and cultivation.

By Process
● Aerobic Digestion
● Anaerobic Digestion
● Combustion/Incineration
When compared to the other processes included in the food waste treatment, the anaerobic digestion segment is contributing to have a substantial proportion.The share values of the market has higher demand in the upcoming year.

By Application
● Animal Feed
● Fertilizers
● Biofuel
● Power Generation
The fertiliser segment is expected to develop the fastest throughout the forecast period in the global food waste management market, according to the application outlook.

By Source
● Primary Food Producers
● Food Manufacturers
● Food Distributors & Suppliers
● Food Service Providers
● Municipalities & Households
By Method
● Prevention
● Recovery
● Recycling

Impact if covid 19:-
People's food shopping and consumption habits have been greatly influenced by Covid-19. Fears of food supply chain disruptions have led to an increase in the quantity and type of food purchased by households. Increased food purchases, on the other hand, may result in food waste, which has significant environmental consequences in terms of greenhouse gas emissions and groundwater pollution. We performed a nationwide survey of home food purchasers in Italy to see if household food waste has altered during the Covid-19 lockout. Despite the fact that food sales increased during the lockdown, our findings demonstrate that food waste decreased since people primarily purchased non-perishable foods. Concerns about the impact of the pandemic on the waste management system, as well as a desire not to add to the pressure on the waste management system, were important causes of reduced food waste in Italy during the pandemic. Our findings imply that Italian consumers are becoming more mindful of food waste, which could have a good influence on the environment by reducing greenhouse gas emissions and groundwater pollution.

Key players:-
● Republic services, Inc
● Waste management, Inc
● Waste connections Inc
● Stericycle, Inc
● Clean harbors, Inc
● Recology Inc
● FCC Environment Ltd
● Veolia Environnement SA
● CT Environment Group Ltd
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Issued By Market Data Foreccacst
Country India
Categories Business , Food
Tags food waste management market
Last Updated October 26, 2021