ID: MRFR/IA - E/2957-HCR | February 2021 | Region: Global | 110 pages
The Food Waste Management Market size is expected to reach USD 61.12 billion and grow at a CAGR of 5.80% by the end of the Food Waste Management Market Analysis. Over the forecast period, the Food Waste Management Industry is expected to be driven by the rapidly developing foodservice industry. In fast service restaurants and other hotel chains, food wastage is relatively common. Furthermore, food waste has increased in the food supply chain during the previous decade, resulting in the installation of many systems that include aerobic and anaerobic digestion processes for food waste recycling. Food waste has been observed to be high in emerging and underdeveloped countries. To address this problem, governments in several nations are enacting strict rules and regulations to reduce food waste. Food waste management companies are mostly focused on the growing economies of the Asia Pacific region to raise consumer awareness about food waste and management.
As a result of the COVID-19 epidemic, the Food Waste Management Market Growth is predicted to contract in 2020. The COVID-19 epidemic has already wreaked havoc on the garbage industry. While the pandemic was spreading and several nations were implementing lockdowns, public authorities and municipal garbage operators had to quickly adjust their food waste management systems and procedures to the circumstances. Inappropriate waste management raises the danger of disease transmission, either directly from uncollected or discarded trash or indirectly through water and crop pollution. In underdeveloped nations, poor waste management techniques are projected to cause between 400,000 and 1 million fatalities each year; productivity losses due to illness would be several times higher. In normal times, the health effects of the trash sector are far worse than those of COVID-19. COVID-19 has been blamed for 3,920,463 global deaths according to the World Health Organization. Bur with the anticipated risk of COVID-19 transmission is the immediate cause of the slowdown, other important variables include supply chain disruptions and a drop in production and commercial operations. The worldwide food waste management sector could be adversely impacted if the economic downturn, combined with low commodity prices, leads to a greater dependence on cheaper virgin raw materials rather than the recycled feedstock.
Stringent regulations of governments worldwide for better waste management and environmental protection; the strong focus of several governments to conduct awareness programs highlighting the importance of waste segregation and waste management; technological advancements and shortened life cycles of electronic products help in increasing e-waste are some of the key drivers for the Food Waste Management Market Share. One of the significant trends in the global food waste management market is the adoption of novel technology, which is transforming items into advanced products. To differentiate their products and stay competitive in the industry, major firms are creating unique and creative food waste management. The strong demand for these goods from restaurants and hotels, especially those with attractive characteristics like fast installation and comfortable use, is one of the key drivers of growth. One of the key reasons likely to drive the Food Waste Management Market Growth during the Food Waste Management Market Analysis in the coming years is the rising demand for food waste management from restaurants and hotels.
Waste segregation is the separation of dry and moist rubbish, which allows for other waste management procedures like composting, recycling, and cremation to take place. The objective is to reduce garbage in landfills and, in the long run, to prevent pollution of land, water, and air. Recycling garbage and plastic products, as well as other commodities such as paper, metals, and food products, requires proper waste collection and classification. The municipalities and other waste management stakeholders face a significant threat from improper garbage disposal. And improper garbage disposal can have a significant impact on the health of those who live near polluted areas or landfills. There are various infections like Skin irritations, blood infections, respiratory problems, growth disorders, and even reproductive issues that can all be caused by inadequately treated wastes.
Due to growing sales of Food Waste Management through offline stores such as hypermarkets, specialty stores, home improvement stores, and other offline stores, the offline distribution channel segment will account for the biggest market growth. Restaurants and hotels have a difficult time disposing of the vast amounts of food waste they generate regularly. For business establishments with a high volume of recurring food waste deposits, Food Waste Management is the most appropriate and efficient system. Restaurants and hotels spend a lot of money to dispose of food waste in the standard trash can. This is because the collected waste must be buried for slow decomposition, which comes at a high expense depending on the volume.
The Food Waste Management Market has been bifurcated into various segments that will help the market to achieve the highest CAGR during the forecast period. The market segments are as follows:
Based on the Processes, Food waste management has been segmented as follows:
Based on the waste type, Food waste management has been segmented as follows:
Based on the end-use, the global market has been segmented as follows:
Based on the region, the global food waste management market has been segmented as follows:
Over the forecast period, North America is expected to maintain its dominance. This is due to the Solid Trash Association of North America's (SWANA) increasing support and initiatives in waste management, which include residential, institutional, commercial, and industrial waste storage to reduce waste in North America. During the study period, Europe is estimated to account for more than 25% of the market share. The Asia Pacific region, on the other hand, is expected to develop at the fastest rate in the global market. Due to the increased adoption of automated cleaning solutions in metro cities, increased knowledge about health and hygiene, and growth in disposable incomes, the Asia Pacific region is expected to develop at a faster rate. Rapid urbanization in nations like India, China, Australia, Japan, Malaysia, South Korea, and other South Asian countries is likely to drive up demand for food waste disposers in the region. As a result of strong economic conditions and increased awareness, the growth momentum in North America and Europe will continue.
Major international competitors functioning in the Food Waste Management Market are included in this analysis. Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets as a result of technology improvement and product innovation. The major Food Waste Management Market Key Players are as follows:
Due to its range of varied waste management services, which are extremely valuable in the food sector, Veolia Environnement (France) is projected to emerge as a key market player in the food waste management market in the approaching years.
In annualized sales, Waste Connections reported the completion of acquisitions during the fourth quarter. There is a new market entrance solid waste collection and recycling acquisition in South Central Pennsylvania, as well as tuck-in acquisitions to existing operations in Alaska, Illinois, New York, and Tennessee, were among the completed acquisitions.
The report on the global food waste management market includes thorough primary research as well as rigorous qualitative and quantitative analysis by various industry experts and key opinion leaders to acquire a deeper understanding of the market and industry performance. The overall report tells the current market landscape in detail, including historical and projected market size in terms of value and volume, technical advancements, macroeconomic considerations, and market controlling factors. The study contains thorough information and plans for the industry's top important players. The study of the market also provides an overview of the various market categories and geographies. The research covers significant changes in market dynamics as well as an industry overview. The research also includes a qualitative and quantitative assessment based on information acquired from industry analysts and market players at various stages throughout the value chain.
|Market Size||2030: USD 61.12 billion|
|CAGR||5.80% CAGR (2020-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Processes, Waste Type and End Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Andritz Ag (Austria), Waste Management, Inc. (U.S.), Veolia Environnement S.A. (France), Republic Services, Inc. (U.S.), Stericycle, Inc. (U.S.), Covanta Holding Corporation (U.S.), and Waste Connections, Inc. (Canada)|
|Key Market Opportunities||Stringent rules & regulation of Government to minimize the food wastage|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Food waste management market is projected to grow at a 5.80% between 2020-2030.
North America is expected to dominate the food waste management market.
Growing food service industry and growing awareness about food waste management are the key factors driving the food waste management market.
Different end use industries of food waste management market include renewable energy and biofuels, fertilizer, animal feed, and others.
Eminent players profiled in the food waste management market include Waste Connections, Inc. (Canada), Covanta Holding Corporation (U.S.), Stericycle, Inc. (U.S.), Republic Services, Inc. (U.S.), Veolia Environment S.A. (France), Waste Management, Inc. (U.S.), and Andritz Ag (Austria).