Food Waste Management Market is Expected to Witness Significant Growth by 2027

06/gen/2021 08:37:48 Grand View Research Contatta l'autore

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The global food waste management market size is expected to reach USD 52.03 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.4% over the forecast period. Stringent government regulations across various countries to control the amount of food waste generated and the adoption of proper waste disposal techniques are likely to drive market growth.

Rising demand for packaged and processed foods, owing to changing lifestyles coupled with the increased popularity of quick-service restaurants, is anticipated to complement growth. Growing food items related to trade between countries has led to an increase in the amount of food waste generated due to spoilage during transit, augmenting the service demand.

Growth in the food delivery business of ready-to-eat and pre-prepared food, managed through the e-commerce platform, has changed the way waste is produced. Similarly, packaging waste has witnessed growth in the past few years, whereas the quantity of food waste from households has reduced owing to the decline in residential cooking due to the rising number of working women.

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Stringent government regulations towards storage, selling, transportation, and trade of perishable food items like dairy, meat, poultry, and seafood, based products is expected to drive the market demand for food waste management. These food products need a specific condition to survive and need to go through various processes such as chilling, scaling, preserving, and others.

Food Waste Management Market Report Highlights

·         The adoption of anaerobic digestion for treating food waste accounted for 45% of the global revenue share in 2019, on account of its ability to recover energy, nutrients, and other products such as biogas, electricity, heat, and biomethane, from the waste

·         Fruits and vegetables contributed to 40.8% of the waste type in 2019, owing to improper handling, storage, processing, and cultivation of the products coupled with the lack of appropriate transportation channels in the agrarian economies

·         The application of food waste management for the generation of biofuel is estimated to witness a CAGR of 6.6% from 2020 to 2027, on account of the rising awareness concerning the use of renewable energy coupled with variable crude oil prices

·         The service demand in Central and South America is expected to witness a CAGR of 4.7% from 2020 to 2027, owing to inadequate infrastructure and improper planning about waste management coupled with the lack of proper training and awareness

·         Major companies such as Veolia; Clean Harbors, Inc.; Waste Management, Inc.; Suez, and Republic Services, Inc., have goodwill in the market, which provides them a competitive edge over other service providing companies


Food Waste Management Market Segmentation

Grand View Research has segmented the global food waste management market based on waste type, process, source, application, and region:

Food Waste Management Waste Type Outlook (Revenue, USD Million, 2016 - 2027)

·         Cereals

·         Dairy products

·         Fruits & Vegetables

·         Meat

·         Fish & Sea Food

·         Processed Food

·         Others

Food Waste Management Process Outlook (Revenue, USD Million, 2016 - 2027)

·         Aerobic

·         Anaerobic

·         Combustion/Incineration

·         Others

Food Waste Management Source Outlook (Revenue, USD Million, 2016 - 2027)

·         Primary Food Producers

·         Food Manufacturers

·         Food Distributors & Suppliers

·         Food Service Providers

·         Municipalities & Households

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