Food Waste Management Projects to Reduce Greenhouse Gas Emissions
New York, US, Oct. 11, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Food Waste Management Market Global Information by Processes, Waste Type, End Use and Region – Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 61.12 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 5.80% during the assessment timeframe.
Food Waste Management Market Overview:
The food waste management market demonstrates significant growth potential. The growing adoption of advanced waste management solutions is a key driving force. Government initiatives to raise awareness about food waste issues, including harmful gas emissions, encourage the use of collection, separation, and treatment of organic waste. Policymakers set out recommendations aligning with government priorities for food waste prevention to slash waste-related emissions. Besides, the rapidly spreading awareness of waste management benefits and technological advances create vast opportunities.
Leading players in the food waste management market are –
- Republic Services, Inc. (US)
- Veolia Environnement SA (France)
- Andritz Ag (Austria)
- Waste Connections, Inc. (Canada)
- Stericycle, Inc. (US)
- Waste Management, Inc. (US)
- Covanta Holding Corporation (US)
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Food waste is a quality dissipates that can be reused to produce animal food & protein, and fertilizers. Effective food waste management delivers some unique advantages, offering alternative solutions to create a circular economy, such as energy generation, biogas/ natural gas, and compost fertilizers, and creating a healthy environment to live in. The lack of land resources makes the waste treatment capacity ineffective while polluting the environment, including air and water.
Food Waste Management Market Report Scope:
|Revenue forecast in 2030||USD 61.12 Billion|
|Growth Rate||CAGR of 5.80% from 2022 to 2030|
|Key Market Opportunities||Stringent rules & regulation of Government to minimize the food wastage|
|Key Market Drivers||Rapidly growing food service industry|
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Food waste reduction technology can help limit food lo ss and improve food safety. Innovations in food waste management technologies offer various solutions to meet the growing demand for a controlled environment and greater supply chain risks. Robotics is leveraging technology to increase productivity and reduce costs. Investors look for innovation investment opportunities that provide exposure to pure-play stocks across the value chain.
Businesses in the hospitality sector, such as healthcare providers, purchasing consortiums, and retailers, need food waste management. Strategies to prevent food waste and improve organics management techniques boost the market size. Improved associated savings and profitability, alongside government incentive plans for producers, logistics providers, and retailers, impacts the Food Waste Management Market growth positively.
A vast quantity of food waste occurs during distribution, storage, and packaging. Food supply chains lose a hefty amount due to improper transportation and storage practices. Advanced food waste management solutions are integrated with IoT and blockchain technologies to help reduce these losses by identifying when and where food spoils.
On Oct. 04, 2022, iMatrix Systems, an IIoT technology company, developed a new product – iMatrix NEO Model, that can assist restaurants in maintaining food safety and reducing the possibility of food waste. iMatrix NEO features environmental sensors and applications designed to monitor temperature levels in commercial refrigeration & freezer systems and alert restaurant owners and managers about system failures leading to raising temperatures that can cause food to spoil.
The burgeoning food & beverages industry and growing numbers of facilities that collect & process food wastages are key market trends. Also, the penetration of advanced food waste management systems, such as aerobic and anaerobic digestion methods in controlling food wastage in the supply chain, boosts the Food Waste Management Market shares.
Food Waste Management Market Segments
The food waste management market report is segmented into processes, food waste types, end-users, and regions. The process segment is sub-segmented into anaerobic digestion, aerobic digestion, combustion, and others.
The food waste type segment is sub-segmented into production & processing waste, distribution & supply chain waste, retail & consumption waste (household and food services), and others. The end user segment is sub-segmented into fertilizer, renewable energy, animal feed, biofuels, and others. The region segment is bifurcated into the MEA, Asia-Pacific, Americas, Europe, and rest-of-the-world.
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Food Waste Management Market Regional Analysis
North America dominates the global food waste management market. The wide uptake of advanced technologies for efficient management of food waste is a key driving force. Besides, the increasing awareness of the benefits of food waste management and the highly penetrated F&B industry in the region boost the market size. With their rapidly growing FWM markets, the US and Canada support the market growth in the region.
Increasing government support and initiatives of the Solid Waste Association in North America (SWANA) for waste management impact the market shares positively. Also, government initiatives funded by public and private sectors escalate the market value. Moreover, the availability of futuristic storage facilities for food left over provides impetus to market growth.
Europe is another rapidly growing market for food waste management solutions. The increasing adoption of food waste management technologies in growing numbers of restaurants and the surging food processing industry in the region push market growth. The UK, Germany, Italy, and France are leading food waste management markets, witnessing vast market demand.
The food waste management market in the Asia Pacific region witnesses significant investments. Improving economic conditions in the region, alongside the booming F&B and food processing sectors, create significant market opportunities. Additionally, the ever-increasing population, rapid urbanization, and growing investments in food waste management support regional market growth. India and China witness exponential growth due to improving economic conditions.
Food Waste Management Market Competitive Analysis
The highly competitive global food waste management market appears to be fragmented due to the presence of several well-established players. To gain a competitive advantage in the market, these players incorporate strategic initiatives like acquisition, partnership, collaboration, expansion, and technology launch. Industry players make heavy R&D investments in developing cost-effective and sustainable waste management solutions.
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For instance, on Oct. 04, 2022, Novati, a waste broker and resource consultancy, announced the acquisition of Managed Waste Solutions (MWS) Ltd., a specialist in providing a futuristic waste management experience. The acquisition strengthens Novati’s presence and ability to offer creative, innovative, sustainable solutions across the UK. Novati primarily focuses on delivering trade waste & washroom services. With an incredible supply chain, it delivers solutions required by the industry.
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