In 2022, the Food Waste Management Market is anticipated to have sales worth $62.6 billion. According to Future Market Insights (FMI), the total market value is anticipated to increase at a CAGR of 6.4% from 2021 to 2032, reaching US$ 116.4 Bn.
The United States Environmental Protection Agency (EPA) reports that more than 38 million tonnes of food waste were produced in 2014, with only 5% being diverted from landfills and incinerators. According to the EPA, food makes up 21.6% of the nation’s abandoned municipal solid trash. Food losses and waste highlight the inefficiency of food value chains and systems, which leads to a decrease in the availability of food in general.
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The increasing food loss and wastage has led to a growing focus on decreasing the total volume of waste produced while increasing efforts to bring about sustainability in food waste management worldwide. The global food waste management market is anticipated to be valued at US$ 62.6 Bn in 2022. Future Market Insights (FMI) projects that the food waste management market will see a significant CAGR of over 6.4% during 2021 – 2032.
Key Takeaways – Food Waste Management Market Study
- The food waste prevention segment is expected to rank relatively high on the attractiveness index in the global food waste management market. In 2022, the food prevention segment is anticipated to dominate the market.
- Food loss and wastage occurs at each node of the supply chain, from primary production to final end consumption.
- According to FMI survey, it is observed that around 85% to 90% of the overall food wasted in the developing economies is in the supply chain, including producers, processors, distributors, transportation & logistics, and retailer levels. In developing economies, food loss usually occurs in the earlier stages of the supply chain as a result of limited technology, inadequate infrastructural facilities, unfavorable climatic conditions, and insufficient processing and lack of marketing.
- In contrast, developed economies witness food losses and wastage to a substantial extent at the downstream stages of the supply chain.
- In 2019, food processing wastes is estimated to dominate the food waste management market by waste type.
- Rising preference for animal food production from food waste is expected gain traction in the food waste management market in the foreseeable future. Animal Feed, followed by fertilizers, are anticipated to remain the largest end-use segment globally during the forecast period.
- Increase in promotional activities and investments in renewable energy generation are leading to the growing market prospects for food waste management in North America. High demand for renewable energy and development in infrastructure encourages new players operating in recycling and processing food waste market.
Players in the food waste management market could strengthen their positions by introducing services in the rural areas where the concentration of food waste management companies is relatively low.
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Technological Developments to Enhance Prospects for Food Waste Management Organizations
Increasing participation of small and mid-size enterprises in the global food waste management market provides opportunities for innovation in services offered by waste management companies. Through the development of innovative technologies such as shelf-life extension technology, companies operating in the food waste management market are able to expand their global footprint by leveraging the regulatory implications.
Know More About What the Report Covers
Market Segments Covered in Food Waste Management Industry Analysis
By Services:
- Prevention
- Collection
- Transfer
- Recycling
- Landfill
By Waste Type:
- Food Production Wastes
- Agricultural Produce Wastes
- Fruits & Vegetable Waste
- Staple Grain Waste
- Poultry, Fish and Meat Wastes
- Bovine
- Poultry Meat
- Pork
- Fish & Other Marine Food
- Food Processing Wastes
- Agricultural Produce Processing Waste
- Poultry, Meat and Seafood Processing Wastes
- Dairy Food Processing Waste
- Other Food Processing Wastes
- Distribution and Supply Chain Wastes
- Retail Wastes
- Consumption Wastes
- Household Food Waste
- Food Services, Hospitality & Institutional Waste (FSHI Waste)
By End-use:
- Animal Feed
- Fertilizer
- Renewable Energy & Biofuels
- Others (Cosmetic, Soap, Bio-plastic, and Other Products)
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