Global Food Waste Management Market

Global Food Waste Management Market was valued USD 55.2 Billion in 2023 and projected to reach USD 80.8 Billion by 2030, growing at a CAGR of 5.6% during the forecast period of 2023-2030.

The expansion of the food industry plays a crucial role in driving the food waste market’s growth. This is fueled by the swift urbanization and industrialization in developing nations, which, in turn, increases the utilization of organic waste for producing animal feed and fertilizer. The market is further propelled by the rising consumer preference for novel and exotic food options, such as tropical fruits, premium coffee, and imported products. Additionally, the escalating global trade of food and food ingredients between countries is leading to the establishment of new supply chains, contributing to an increase in food waste. The market growth is also influenced by stringent government regulations and oversight from food management bodies.

Expansion Of The Food Service Sector Is Propelling The Market’s Growth

The increasing food service sector is contributing to the Compound Annual Growth Rate (CAGR) of food waste management in the market. The rapid growth of the food service industry is anticipated to drive the overall business. Food waste is a common occurrence in fast-food establishments and various hotel chains. Moreover, over the last decade, there has been a notable increase in food waste within the dietary supply chain, leading to the establishment of multiple recycling systems for food waste, encompassing both anaerobic and aerobic digestion processes. Food waste is a prevalent issue in both developing and developed nations. To address this concern, authorities in different countries are implementing stringent rules and regulations aimed at reducing food waste. Companies in the waste disposal sector are primarily focused on increasing consumer awareness about food waste and its management, especially in the expanding economies of the Asia-Pacific region. A significant global market trend involves the widespread adoption of advanced technology, transforming food waste into sophisticated products. Leading corporations are actively developing innovative strategies for food waste management to distinguish their products and stay relevant in the market.

Market Dynamics

Drivers:

• Rise in Global Food Waste
• Increase in Usage of Organic Waste for the Production of Animal Feed and Fertilizers
• Need for Reducing Greenhouse Gas Emissions

Opportunities:

• Lack of Integrated Waste Management in the Private Sector in Asia
• Need for Generating an Alternate Source of Energy
• Emergence of Technologies for Waste Disposal

Increasing Adoption Of Advanced Technologies

The integration of advanced technologies is playing a pivotal role in revolutionizing practices related to food waste management. Technologies such as the Internet of Things (IoT), artificial intelligence (AI), and data analytics are being harnessed to monitor, track, and predict the generation of food waste, optimize inventory management, and enhance efficiency across the supply chain. Utilizing smart sensors and data-driven solutions, businesses can pinpoint areas of waste, implement real-time tracking for perishable items, and make informed decisions based on data to minimize waste. These technological advancements facilitate improved demand forecasting, enhanced inventory management, and streamlined operations, ultimately leading to a reduction in food waste. The incorporation of advanced technologies into food waste management not only drives innovation but also provides efficient and scalable solutions for the industry.

The market for Food Waste Management is dominated by North America.

In 2022, North America emerged as the market leader. Factors such as damage to food products, overproduction, inadequate cold-chain infrastructure, stringent food-grading specifications, standardized date labeling practices, and fluctuating customer demand all contribute to the dynamics of food waste management in North America.

The Asia Pacific region is projected to experience a compound annual growth rate (CAGR) over the forecast period. The food and beverage industry plays a significant role in the economic development of this region. Anticipated growth in food trade, coupled with increasing regional and national specialization, is expected to contribute substantially. With a growing population and rising income levels, the food sector is poised for rapid expansion during the forecast period, driving market growth in the Asia Pacific region.

The Redox Flow Battery Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on Application, The market is segmented into Animal Feed, Fertilizers, Biofuel, and Power Generation. The animal feed category commands a significant share due to the direct utilization of food waste as feed or its processing through rendering techniques, allowing it to be fed to livestock without incurring additional costs. In contrast, other applications of food waste typically involve extra charges, resulting in higher waste levels in the animal feed sector. The biofuel segment is witnessing rapid growth, driven by fluctuations in crude oil prices and increased awareness of renewable energy. Anticipated government regulations favoring biofuel applications are poised to boost the use of food waste as a biofuel in the Food Waste Management Market.

Major vendors in the global Food Waste Management market are Biffa, Clean Harbors, Inc., Cleanaway, Covanta Ltd., DS Smith, FCC Recycling (UK) Limited, Recology Inc., Remondis SE & Co., KG, Republic Services, Inc., Rumpke, Suez, Veolia, Waste Connections Inc., Waste Management, Inc. and Others.

Segmentations Analysis of Food Waste Management Market: –

Major Segmentations Are Distributed as follows:

• By Waste Type
  • Cereals
  • Dairy & Dairy Products
  • Fruits & Vegetables
  • Meat & Poultry
  • Fish & Sea Food
  • Oilseeds & Pulses
  • Roots & Tubers
  • Others
• By Process
  • Aerobic digestion (composting)
  • Anaerobic digestion
  • Incineration/ combustion
  • Others
• By Service
  • Collection
  • Transportation
  • Disposal/Recycling
    • Landfill
    • Incineration
    • Composting
    • Others
• By Application
  • Feed
  • Fertilizers
  • Biofuel
  • Power Generation
  • Others
• By Region
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Nigeria
    • Egypt
    • Israel
    • Turkey
    • Rest of MEA

Recent Developments

• In January 2023, Courtenay had introduced a weekly collection for food waste. Residents participating in the city’s residential curbside collection program was able to avail themselves for the newly launched weekly food waste collection service, with an addition to the organics program. The establishment of the new Comox Strathcona Waste Management (CSWM) Regional Compost Facility had played a role in providing this additional waste diversion option.
• In December 2022, Myplan8 had unveiled an app designed to enlighten individuals about their carbon footprint. According to the company, the app aimed at aid users in monitoring the environmental impact resulting from their everyday lifestyle, routine travel, and dietary habits.

Answers to Following Key Questions:

• What will be the Food Waste Management Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Food Waste Management Market?
• What are the main forces behind worldwide Food Waste Management Market? Which companies dominate Food Waste Management Market?
• Which companies dominate Food Waste Management Market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Insight Engines industry’s suppliers’ opportunities and dangers in Food Waste Management Market?
• What is the Insight Engines industry’s regional sales, income, and pricing analysis? In the Food Waste Management Market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Food Waste Management Market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Food Waste Management Market?
• What are the dominant revenue-generating regions for Food Waste Management Market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main Food Waste Management Market trends that are influencing the market’s expansion?
• Which key product categories dominate Food Waste Management Market? What is Food Waste Management Market’s main applications?
• In the coming years, which Food Waste Management Market technology will dominate the market?