The Global Food Waste Management Market is predicted to grow colossally at an impressive CAGR over the assessment period (2018-2023). Food waste management includes everything from collection, treatment, transport, disposal, monitoring to regulation. A key reason for the increasing food waste management growth is the food processing wastage. This includes dairy food processing waste, agricultural produce processing, seafood, meat and poultry processing waste and waste from other forms of food processing. The target audience here includes food products distributors, raw material suppliers, association bodies, industrial, research organizations, government, food products suppliers, food products traders, food manufacturers, industry associations and others.
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There are numerous factors that are propelling the growth of the food waste management market. Some of these factors as per the Market Research Future (MRFR) report include rapid industrialization, innovation and research & development to develop effective food waste management system, increase in global food waste, rise in the increase of organic waste for fertilizer and animal feed production, need to cut down greenhouse gas emissions, rising energy needs, burgeoning food and beverages industry, advanced system implementations such as anaerobic and aerobic digestion processes utilized to recycle food waste, initiatives taken by the government, increasingly growing food service industry, technological advancement and increasing awareness about the benefits of saving food resources. On the contrary, incineration and landfill techniques that effect the environment are factors that may impede food waste management market growth.
March 2019 – Winnow, a food waste specialist, has come up with a waste management system that is AI (artificial intelligence) enabled. This will not only recognize the types of food but also monitor exactly the amount of every item that is being discarded.
According to the MRFR report, the Food Waste Management Market is segmented based on processes, waste type and end use.
Based on Processes, it is segmented into combustion, anaerobic digestion, aerobic digestion and others. Of these, aerobic digestion will have the maximum share in the market over the assessment period.
Based on Waste Type, the food waste management market is segmented into consumption waste, retail waste, distribution and supply chain waste, food processing waste and food production waste.
Based on End Use, it is segmented into biofuels, renewable energy, fertilizer, animal feed and others. Of these, animal feed will dominate the market over the assessment period.
Major Key Players
Leading 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).
In Europe, the food waste management market will have the second major share due to key contributions from countries namely France, Italy, Germany and the UK. The growing food processing industry coupled with the increasing number of restaurants in Italy and France is likely to support the growth of the market here.
In the APAC region, the food waste management market is predicted to have a lucrative growth owing to the food processing and food and beverage sectors doing wonders in this region. Also, the rapid urbanization, ever-increasing population and growing investment in supporting food waste management are supporting the growth of the market. Improving economic conditions especially in China and India along with increasing restaurant businesses and growing use of food waste management technologies are contributing to the growth of the market in this region.
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By region, the food waste management market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will dominate the market owing to the advanced technologies used in food waste management, wide awareness of waste management and highly penetrated food and beverage industry. China and the US are the key contributors here owing to the rapidly expanding food waste management market. Besides the accessibility of futuristic storage facilities for leftover food, initiatives funded by private and public sectors and the waste management support initiatives that is taken by SWA (Solid Waste Association) in North America are also driving the growth of the market in this region.
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