The market for food waste shredders is anticipated to expand at a CAGR of 6.2%. According to a recent analysis by Future Market Insights, the market for food waste shredders is anticipated to grow from US$ 13,800 million in 2023 to US$ 25,184 million by the end of 2033.
Stricter rules, as well as incentives, funding, and subsidies for the acquisition of recycling equipment, have been implemented in response to a growing focus on reducing and eliminating food waste. The introduction of stringent laws to manage food waste would probably lead to a rapid expansion of the food waste shredder market worldwide.
Another significant aspect of the global market for food waste shredders is the use of waste food as a renewable energy source. Food waste generates methane, which is used to power various treatment facilities. The global market for food waste shredders is being fueled by the fact that a significant portion of food waste litter is recycled and used to create organic fertilisers or animal feeds.
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In addition, development of improved waste disposal procedures, coupled with the need to develop alternative energy sources, would present the profit potential for the food waste shredder market to grow in the next ten years.
Moreover, ongoing advancement of waste management solutions to enhance the operation of metal food waste shredding machines is another crucial factor that is likely to augment the market. Progression of recycling operation technologies due to the reduction of mineral commodity ore grades is also projected to boost the market.
Key Takeaways from the Food Waste Shredder Market Study:
- The Europe food waste shredder market holds the largest share of nearly 33% across the globe.
- Under capacity, the 0-50 kg/day category accounts for around 7% of the global food waste shredder market share.
- The North America food waste shredder market holds nearly 28% of the global share.
- The China food waste shredder market is projected to grow at a CAGR of around 57% over the next ten years.
- During the historical period between 2018 to 2022, the global food waste shredder market showcased considerable growth at a CAGR of 1%.
“Increasing concerns over food waste across the globe and rising trade of food & food ingredients between numerous countries are projected to push the development of new supply chains. It is further expected to result in the increasing generation of food waste, thereby pushing sales of food waste shredders in the evaluation period,” says a lead analyst at Future Market Insights.
Competitive Landscape: Food Waste Shredder Market
The global food waste shredder market is highly fragmented with the presence of a large number of local and regional players. Mergers & acquisitions, collaborations, expansions, and partnerships are some of the marketing tactics that are being used by significant companies. In addition, leading corporations are investing huge sums in research and development activities to expand their geographic presence.
For instance,
- For commercial and industrial applications, Oklin International launched the GG500s model series. It comes with cutting-edge features that streamline operations for effective waste reduction results. Food waste input is made simple by the bin lifter system and the infrared camera system, which keep operators informed about the composting process.
Get More Valuable Insights into Food Waste Shredder Market
FMI, in its new offering, provides an unbiased analysis of the food waste shredder market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for food waste shredders based on product (single shaft shredder, two shaft shredder, three shaft shredder, four shaft shredder), by type (0-50 kg/day, 50-100 kg/day, 101-300 kg/day, 301-500 kg/day, 500-1000 kg/day, over 1000 kg/day), by use (commercial, industrial), by application (organic waste, vegetable waste, fruits waste, bio-waste, kitchen waste, supermarket waste), and regions.
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Food Waste Shredder Market Outlook by Category
By Capacity:
- 0-50 Kg/Day
- 50-100 Kg/Day
- 101-300 Kg/Day
- 301-500 Kg/Day
- 500-1000 Kg/Day
- Over 1000 Kg/Day
By Product:
- Single Shaft Shredder
- Two Shaft Shredder
- Three Shaft Shredder
- Four Shaft Shredder
By Use:
- Commercial
- Industrial
By Application:
- Organic Waste
- Vegetable Waste
- Fruits Waste
- Bio-Waste
- Kitchen Waste
- Super Market Waste
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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