Mar 29, 2023   SOURCE: BusinessWire

Global Food Waste Management Market to 2023: Players Include Suez Environment, Waste Management, Republic Services and Veolia Environment - ResearchAndMarkets.com

The "Food Waste Management Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.

The global food waste management market was valued at approx. USD 67 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 5.4% from 2023 to 2031.

Companies Mentioned

  • Suez Environment
  • Waste Management Inc.
  • Republic Services Inc.
  • Veolia Environment
  • Covanta Holding Corporation
  • Waste Connections Inc.
  • Biffa Group Limited
  • Advanced Disposable Services Inc.
  • Rumpke Consolidated Companies Inc.
  • Clean Harbors Inc.
  • Remondis SE & Co. KG
  • Stericycle Inc.
  • FCC Environment Ltd.
  • CT Environmental Group Ltd.
  • Recology Inc.
  • DeIorio's Foods Inc.
  • Cleanaway
  • FCC Recycling (UK) Limited
  • DS Smith

Food wastes mainly consists of oils, fats, and by-products of animals which is converted into saleable commodities that includes tallow, high protein meat, and grease among others. These commodities are used in production of biofuels, soap, animal feed, cosmetics, toothpaste, leather, lubricants, pharmaceuticals, etc. Food waste is emerging as a social and economic problem with consequential implications on environment.

Food wastage is set to rise at an alarming rate thereby hosting various challenges for the food industry during the forecast period, consequently leading to the growth of food waste management market. In addition, unwanted dump resulting from food at marriages, parties, restaurants, and hotels also supports the need of a proper food waste management. All these factors are contributing to the growth of food waste management market during the forecast period.

Food waste utilization as a renewable source of energy is an important factor driving the global food waste management system market. Food waste is one of the source of methane which is utilized as a renewable source of energy to power the various treatment plants.

Trend shows that major share of feed litter generated from food waste is recycled to produce organic fertilizers or animal feed leading to the growth of global food waste management market. On the other hand, emergence of new technologies for disposal of waste followed by need for generating alternative source of energy serves as opportunities in the global food waste management market.

The global food waste management is segmented by waste type, application, and process. Based on waste type, the market is categorized into fruits and vegetables, cereals, fish & seafood, processed foods, dairy products, coffee grounds & tea, meat, and oilseeds & pulses.

In 2022, fruits and vegetables held the largest share in terms of value. Fruits and vegetables waste is mainly generated owing to adversity of retailer quality standards followed by overproduction which in turn is expected to bolster the demand of this segment during the forecast period. In terms of application, the global food management waste market is further segmented into animal feed, biofuel, fertilizers and power generation.

In 2022, animal feed held the largest market share in terms of value. Food waste is basically recycled to produce animal feed. Owing to the high prices of traditional animal feed, manufacturers are shifting towards recycled food waste as animal feed production from food waste is the ecological and economical method of management of food waste. In terms of process, the market is further segmented into aerobic digestion, incineration or combustion, anaerobic digestion, and others (redistribution, minimization, and disposal). Anaerobic digestion is the widely used process owing to the fact that this process causes less environmental pollution.

Historical & Forecast Period

This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.

Market Segmentation

Waste Types

  • Fruits and Vegetables
  • Cereals
  • Fish and Seafood
  • Processed foods
  • Dairy products
  • Coffee Grounds & Tea
  • Meat
  • Oilseeds and pulses

Application

  • Animal Feed
  • Biofuel
  • Fertilizers
  • Power Generation

Process

  • Aerobic Digestion
  • Incineration /Combustion
  • Anaerobic digestion
  • Others(Redistribution, Minimization, and Disposal)

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Food Waste Management market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2031.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Food Waste Management market?
  • Which is the largest regional market for Food Waste Management market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Food Waste Management market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Food Waste Management market worldwide?

For more information about this report visit https://www.researchandmarkets.com/r/bucgjs

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