Food Waste Management Market Global Analysis 2022 by Processes (Aerobic Digestion, Anaerobic Digestion, Combustion and others), Waste Type (Food Production Waste, Food Processing Waste, Distribution and Supply Chain Waste, Retail Waste and Consumption Waste), End Use (Animal Feed, Fertilizer, Renewable Energy & Biofuels and others) and Region – Forecast till 2030
The Food Waste Management market is estimated to reach USD 61.12 billion by the end of 2022-2030, growing at a CAGR of 5.80%.
The expanding food business is critical in expanding the food waste management market. The fast-increasing urbanization and industrialization in emerging nations increase the use of organic waste to manufacture animal feed and fertilizer. Increasing consumer taste and preference for new types of food and exotic food items, such as premium coffee, tropical fruits, and imported products, growing trade of food and food ingredients between various countries, which will lead to the development of new supply chains and an increase in food waste, and rising strict regulations imposed by the government and food management bodies, are the major factors driving the market growth.
Key Players
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The Food Waste Management Market declined in 2020 due to the COVID-19 outbreak. The COVID-19 outbreak has already caused havoc in the waste management business. While the virus spread and numerous countries implemented lockdowns, governmental authorities and municipal garbage operators were forced to swiftly adapt their food waste management systems and processes to the changing conditions. The direct reason for the slowdown is the predicted danger of COVID-19 transmission; other relevant variables include supply chain interruptions and a decline in production and commercial activities. The global food waste management industry may suffer if the economic slump and low commodity prices lead to a greater reliance on cheaper virgin raw materials rather than the recycled feedstock.
Market segmentation:
The Global Food Waste Management Market is classified into Application, Type, and Source.
According to the application:
According to the type:
According to the source:
According to the Processes:
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Regional analysis:
The Food Waste management market is divided into four regions based on geographical analysis: North America, Asia-Pacific, Europe, and the Rest of the World.
North America is likely to retain its supremacy during the projection period. This is owing to the Solid Trash Association of North America’s expanding support and garbage management programs, which include commercial, institutional, residential, and industrial waste storage to minimize waste in North America.
Europe is expected to account for more than 25% of the market share over the research period. On the other hand, the Asia-Pacific region is predicted to grow at the quickest rate in the worldwide market. The Asia-Pacific area is predicted to develop quickly due to the growing usage of automated cleaning solutions in metro cities, improved understanding of health and hygiene, and a rising disposable income. Rapid urbanization in India, Australia, China, Japan, South Korea, Malaysia, and others in South Asia is expected to increase demand for food waste management systems in the area. The rapid expansion in North America and Europe will be maintained due to solid economic circumstances and improved awareness.
Recent developments:
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