According to a report,“Food Waste Management Market Size, Share & Trends Analysis Report By Waste Type (Fruits & Vegetables, Dairy Products), By Process (Anaerobic, Aerobic), By Application, By Source, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global food waste management market size is expected to reach USD 45.80 billion by 2025, It is anticipated to register a CAGR of 5.0% during the forecast period. Rising concerns regarding wastage across the globe on account of increasing food trade and social interdependence between countries are expected to propel the growth.
Educatory and communicative actions such as Stop Wasting Food movement in Denmark, Love Food Hate Waste in U.K., and Think Eat Save are anticipated to positively influence the growth. These educational campaigns focus on web-based instruments and door-to-door interviews with citizens to spread understanding related to the prevention of wastage of edibles.
Adverse effects of landfill and incineration techniques on the environment is a factor projected to hamper the market growth over the forecast period. However, precautions such as maintaining hygiene during combustion and landfill gas capture during the process aid in reducing the environmental impact of these processes, which is likely to influence growth of the food waste management market positively.
Food waste with high nutrient value is used as raw material and is undergoes various fermentation processes for the production of biofuel. This is expected to reduce the dependency on crude oil and drive the demand for food waste management for the by-products. In addition, use of the wastage as animal feed and fertilizers is expected to have a positive impact on market growth.
Key Takeaways from the report:
Fruits and vegetable segment is anticipated to witness a CAGR of 4.4% from 2019 to 2025, in terms of revenue owing to lack of appropriate transportation channels in the agrarian economies along with ease in waste management of the produce
Anaerobic digestion technique is expected to expand at a CAGR of 5.4%, in terms of revenue, on account of rising awareness regarding the environmental and energy advantages associated with the process
Animal feed application segment accounted for over 52.9% of the market share in terms of revenue in 2018, as converting wastage with high nutrient value into animal feed is an ecological and economical way of management and aids in animal health
Asia Pacific food waste management market is expected to register at a CAGR of 4.6% over the forecast period on account of the rising feed dump in economies such as China, India, Thailand, and Malaysia
The service portfolio of the significant players includes all waste management services provided across the customers and the market concentration in developed economies is increasing through consolidation and outsourcing the treatment
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Europe led the in 2018, accounting for over 32.5% of the revenue share. The factors contributing to the regional growth include government initiative for reducing food wastage as well as increasing investment in advanced disposable techniques for acquiring useful products such as biogas and fertilizers.
North America is estimated to reach USD 13.84 billion by 2025, on account of overproduction, lack of cold-chain infrastructure, market fluctuations, and varying customer demand. U.S. is projected to account for a major regional market share owing to the booming food industry in the country.
Asia Pacific is expected to witness significant growth on account of rising exports of various products from Asian countries to the North American and European countries which are further expected to increase the amount of wastage during transit. The food waste in the region is majorly decomposed and is converted into biogas, which is also used in electricity generation.
The advanced economies in Middle East and Africa, such as Qatar, contribute majorly to the global food wastage on account of the unavailability of an adequate number of cold storages and warehouses and the lack of transportation facilities. However, the regional governments are focusing on proper management on such wastage. For instance, Dubai has taken the initiative for achieving zero waste and has launched the UAE Food Bank.
Food Waste Management Market Share Insights
The market is highly competitive in nature. Major companies in the market include Veolia Environment; Suez Environment; Waste Management, Inc.; Republic Services, Inc.; Clean Harbors, Inc.; and Stericycle, Inc. The source of competition varies by the region and type of service offered by the regional and local players.
Market players work with the governments to improve the overall customer services as well as the customer experience of dealing with waste management. In addition, public-private partnerships benefit the government as well as the companies involved as they receive a higher level of cooperation from each other for improved functioning.
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