Vegetable Waste Product Market:
The global vegetable waste product market is projected to grow in the next five years, fuelled by factors such as the growing public awareness of environmental issues and the need for sustainable waste management solutions. Nearly one-third percentage of produced food meant for human consumption is wasted, that sums up to 1.3billion tons per year. Out of this, fruits along with vegetables account for nearly 45% of the losses as per the reports by the Food and Agricultural Organization of the United Nations (FAO).
Obtained or derived from vegetable leftovers or rejected supply, vegetable waste products serve as an excellent alternative to their conventional counterparts which are developed synthetically, commonly perceived to be safe and eco-friendly. The vegetable waste product market is expanding at an exponential rate, with the concern for the environment escalating as rapidly as the demand for sustainable resources. Vegetable waste products can be utilized as organic fertilizers, food for livestock, natural pigments, therapeutic compounds, phytochemicals, and much more.
People are aware of the harmful effects of inorganic agricultural produce and are switching to organic produce, which is grown using organic fertilizers. Organic fertilizers are free of heavy metals and toxic chemicals, making them safer not just for plants and humans, but also for the microbial organisms affecting the plants. It has been predicted that in a few decades, the amount of meat and milk required to feed the ever-growing human population will be much more than what is needed today, implying that our livestock reserves would need to be a lot bigger than they are. Vegetable waste has the potential to make this possible if it is used to develop a sustainable livestock feed. If the recent efforts to make vegetable waste products fit for human consumption bear fruit, the vegetable waste product market will enter a whole new phase of growth in the future.
Market key player
Italpollina S.p.A., Coromandel International Limited, ILSA S.p.A., Sigma AgriScience, LLC, California Organic Fertilizers, Inc., BioGasol ApS, SEKAB Biofuel Industries AB
The global vegetable waste market is segmented basis Type and Application.
Based on the type of waste, the global vegetable waste product market consists of leftover peels, seeds, and other types.
From the application perspective, it can be divided into organic fertilizers, livestock feed, biofuels, phytochemicals, and other applications.
From a geographical point of view, the production side of the global vegetable waste product market is split into North America, Europe, China, and Japan. The vegetable waste consumption side of the market consists of North America (the United States of America, Canada, and Mexico), Europe (Germany, France, the United Kingdoms, Italy, and Russia), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Philippines, and Vietnam), Central and South America (Brazil), and the Middle East and Africa, with the GCC (Gulf Cooperation Council) countries, Egypt, and South Africa driving the market.
A seemingly insurmountable challenge for the global vegetable waste product market is to develop or produce items which humans can consume. Manufacturers are currently investing in research and development in order to extract therapeutic compounds from leftover vegetable waste such as peels, skin, and seeds. If this initiative succeeds, it may bring about a revolution in the vegetable waste product market. A recently founded start up unexpectedly converted vegetable and fruit waste to a snack fit for human consumption, which is the kind of innovation that is needed to drive the market growth. In addition, the vegetable waste industry needs to be scaled up, expanded, and globalized in order to allow the market to grow rapidly.
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