Market Estimation & Definition

The Food Waste Management Industry was valued at approximately USD 45.12 billion in 2023 and is projected to reach nearly USD 66.95 billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030. Food waste management encompasses the collection, transportation, processing, recycling, and disposal of food waste. This market addresses the need to reduce the environmental impact of food waste, which contributes significantly to greenhouse gas emissions.

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Market Growth Drivers & Opportunities

Several factors are propelling the growth of the food waste management market:

Food waste has grown as a result of the growing commerce in food and food ingredients across other nations, which has resulted in the creation of new supply chains.

Government initiatives to reduce food waste: Governments and food management organisations have responded by enacting strict rules, which has accelerated industry expansion. Initiatives to reduce food waste are being conducted by governments across the world, including Love Food, Hate Waste in the U.K. and the Stop Wasting Food movement in Denmark.

The Indian government is taking steps to reduce waste while exporting food. Due to the enormous volume of food that India exports to nations in North America and Europe, where more food is lost during transit, food waste management is anticipated to gain popularity in India.

Biofuel sector fuelling food waste management: During the forecast period, the market for food waste management is anticipated to rise at a faster rate due to significant expansion in the biofuel sector and variations in crude oil prices. Among the biofuels made from food waste are methane, ethanol, biodiesel, and hydrogen.

What Lies Ahead: Emerging Trends Shaping the Future

The future of food waste management is being shaped by several emerging trends:

Integration of AI and IoT: The adoption of AI and IoT technologies is transforming waste management by enabling real-time monitoring and efficient collection systems. These technologies help in predicting waste generation patterns and optimizing collection routes.

Upcycling and Valorization: There is a growing trend of converting food waste into valuable products, such as biofuels and animal feed, contributing to a circular economy. Companies are exploring innovative ways to upcycle food waste, turning it into new products and reducing environmental impact.

Blockchain for Waste Traceability: The use of blockchain technology is enhancing transparency in the food supply chain, allowing for better tracking of food waste sources and improving accountability. This technology aids in identifying waste hotspots and ensuring efficient waste management practices.

Segmentation Analysis

The food waste management market is segmented based on waste type, process, application, and end-users:

Based on waste type,

fruits and vegetables led the market and accounted for 41.2% of the global revenue share in 2023, owing to a lack of proper handling, storage, and processing of the produce. Ease in waste management of fresh produce in the food management industry for the fruits and vegetable segment is expected to have a positive impact on market growth.

Based on process,

anaerobic digestion dominated the market and accounted for a 46.2 % of global revenue in 2023, given that the food waste handled by anaerobic digestion has a reduced number of pathogens and so limits the spread of odour and illnesses and encourages cleanliness and sanitation. By assisting in the recovery of nutrients and energy from trash, this procedure promotes market expansion.

Based on end-users,

Municipalities and households dominated the market in 2023 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.

Based on application,

Animal feed dominated the market in 2023 and accounted for 53.5% of global revenue. Food waste may be fed to cattle either directly as animal feed or after being rendered and processed without incurring additional expenditures. The application of waste in animal feed is significantly more common than other forms of food waste applications since they are more expensive.

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Country-Level Analysis

United States: The U.S. food waste management market is estimated at USD 21.65 billion in 2022 and is expected to reach USD 41.47 billion by 2032, growing at a CAGR of 6.64% from 2024 to 2034. The growth is driven by rising environmental awareness, stringent regulations, and the adoption of innovative technologies for waste collection and treatment.

Germany: Germany is actively investing in food waste management, focusing on reducing food waste at the source and investing in proper disposal methods to obtain beneficial goods like fertilizers and biogas. The country's commitment to fulfilling SDG Target 12.3 of halving per capita global food waste by 2030 is expected to drive market growth.

Competitor Analysis

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

Conclusion

The global food waste management market is poised for significant growth, driven by environmental concerns, technological advancements, and supportive government initiatives. As the world continues to grapple with the challenges of food waste, the adoption of innovative and sustainable waste management practices will be crucial in mitigating environmental impact and promoting a circular economy.

Frequently Asked Questions:

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