Food Waste Management Market was valued at USD 42.65 Billion in 2022, and it is expected to reach USD 63.30 Billion by 2029, exhibiting a CAGR of 5.8% during the forecast period (2023-2029)
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Food Waste Management Market Overview:
The purpose of this study is to provide a thorough examination of the Food Waste Management market by component, application, industry, and geography. The study goes into great detail on the primary factors influencing the Food Waste Management market’s growth. The study also offers a comprehensive analysis of the market’s value chain.
Market Scope:
The research method used to assess and anticipate the Food Waste Management market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segmentation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Food Waste Management market was calculated using the revenue of significant enterprises.
Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
Drivers:
The Food Waste Management Market has experienced significant growth in recent years, driven by several key factors. First and foremost, growing global awareness of the environmental and social impacts of food waste has led to increased initiatives and regulations aimed at reducing food wastage. Governments and organizations worldwide are now actively promoting sustainable practices and encouraging the adoption of food waste management solutions.
Segmentation:
By waste type
Due to inadequate handling, storage, and processing of the produce, fruits and vegetables dominated the market and made up 41.2% of global revenue in 2022. Market expansion for the fruits and vegetable segment is anticipated to benefit from easier waste control of fresh products in the food management sector. The Food and Agriculture Organisation (FAO) claims that more than 45% of the fruits and vegetables grown worldwide are wasted.
By process
Given that the food waste handled by anaerobic digestion has a lower number of germs and thus prevents the spread of odour and illnesses and promotes cleanliness and sanitation, anaerobic digestion dominated the market and accounted for a 46.2% of worldwide revenue in 2022. This process fosters market growth by aiding in the recovery of nutrients and energy from waste. Combustion/incineration technology is used for all types of food waste, saving time and money on trash sorting. During the combustion/incineration process, food waste is burned to produce heat and ashes.
By end-users
Municipalities and households dominated the market in 2022 and generated 44.1 % of global revenue. The amount of food waste produced by families is anticipated to increase due to the rapidly expanding population and changing lifestyles. A lack of culinary skills, excessive food preparation, excessive purchasing, inappropriate food management, and incorrect storage are some of the factors that contribute to food waste in homes. Due to the spoiling of food and meat brought on by weather changes, inappropriate handling, and a lack of suitable storage facilities, the waste produced by food distributors and suppliers increased.
1. Global Food Waste Management Market Size, by Waste Type (2022-2029)
• Cereals
• Dairy Products
• Fruit Vegetable
• Meat
• Fish Seafood
• Oilseeds Pulses
• Processed Food
• Coffee Grounds Tea
2. Global Food Waste Management Market Size, by Process (2022-2029)
• Aerobic Digestion
• Anaerobic Digestion
• Incineration/ Combustion
• Others
3. Global Food Waste Management Market Size, by Application (2022-2029)
• Feed
• Fertilizers
• Biofuel
• Power Generation
4. Global Food Waste Management Market Size, by End-Users (2022-2029)
• Primary Food Producers
• Food Manufacturers
• Food Distributors Suppliers
• Food Service Providers
• Municipalities Households
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Key Players:
The major players covered in the Food Waste Management market report are
1.Veolia Environnement
2. SUEZ
3. Waste Management, Inc.
4.Republic Services, Inc.
5.Covanta Ltd.
6.Stericycle, Inc.
7. Advanced Disposal Services, Inc.
8.Waste Connections, Inc.
9.FCC Environment
10. Remondis SE Co. KG
11.Clean Harbors, Inc.
Key Questions Answered in the Food Waste Management Market Report are:
- Which segment grabbed the largest share in the Food Waste Management market?
- How was the competitive scenario of the Food Waste Management market in 2020?
- Which are the key factors responsible for the Food Waste Management market growth?
- Which region held the maximum share in the Food Waste Management market in 2020?
COVID-19 Impact Analysis on Food Waste Management Market:
Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 epidemic. COVID-19 has had an impact on the Food Waste Management market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spreads. Our most recent inquiry, opinions, and bits of knowledge on administration are critical to the businesses and associations in the Food Waste Management industry, which is driving through the COVID-19 emergency to handle risk digitising jobs in order to convey trusted data and experiences to the CEOs.
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