Food Waste Management Market - Forecast(2021 - 2026)

According to a survey conducted by the Food and Agriculture Organization of the United Nations, approximately one third of the food for human consumption, equivalent to 1.3 billion tones, that is produced in the world gets either wasted intentionally or lost during supply chain management. Approximately $680 billion is unnecessarily wasted every year in food waste, out of which $310 billion gets wasted in developing countries.[1] Food wastage is a serious problem that requires immediate attention, which is why the market for food waste management has attained considerable growth in the recent past. Governments have started a number of initiatives by joining hands with engineering firms as the latter invest in research and development of food waste management machinery. The food waste management market has gained noticeable support from environment conservation experts from all over the world since it helps fight climate change. These factors collectively helped the food waste management market to generate $29 billion in revenue in 2018. The market is further evaluated to grow at a compound annual growth rate (CAGR) of 5.30% through 2025.

There are seven different kinds of disposal methods that are a part of the food waste management market: landfills and greenhouse gases, animal feed, composting, anaerobic digestion, commercial liquid food waste, agricultural food waste, and cockroach feeding. Anaerobic digestion is the most commercially and residentially used method of food wastage, which is why this application segment is evaluated to grow at a CAGR of 5.60% through 2025.

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Food Waste Management Market Growth Drivers:

Ø  Unwanted Dumps In Urban Landscapes

With an incessantly rising population and a consistent increase in disposable income, every single residential household is generating more waste than expected. This humongous amount of garbage is being dumped in open landfills, which is causing unwanted piles of bacteria-inviting and disease spreading refuse. This has been a relentless debate topic for city planners and governments, which collectively need to introduce food waste management at a residential and commercial level, thereby providing growth to the market.

Food Waste Management Market Key Players Perspective:

Some of the most noticeable food waste management trends have occurred in European countries including the U.K., Denmark, Hungary, and the Netherlands. Sweden has been felicitated globally for being a leader in food waste management, with its recent efforts to import waste from other countries in order to convert it to biogas. This has led Europe to lead the food waste management market geographically, holding a 40% share of the global market in 2018.

Some of the key market players operating in the food waste management market are Veolia Environnement, Waste Management, Inc., Republic Services, Inc., Stericycle, Inc., Stericycle, Inc., Quest Recycling Services, Liquid Environmental Solutions, Panda Envirovnmental Services Inc., and Recology Inc.

Waste Management, Inc. is a global leader of this market with a 99.99% accuracy of food waste pickup. It provides solutions for both residential and commercial purposes.

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Food Waste Management Market Trends:

With an incessant rise in global warming plaguing the natural resources, climate, and ecosystems of the Earth and a lot of people lacking time and efforts from their end to implement food waste management, technology companies have introduced finer ways to reduce food wastage.

Ø  BluWrap

BlueWrap is a wrap that is used for storing fish, meat, and other products. It has built-in fuel cells that carefully monitor the temperature and air level inside the packets, thus extending the shelf life of the product. 

Ø  Copia

Copia is a company that has invented an app for connecting culinary businesses such as restaurants, hotels, hospitals, and others with local shelters in order to give away excess food to hungry people. This massively helps in reduction of food wastage.

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