Global Food Waste Management Market Overview
Food waste management refers to collection, transport, treatment, and disposal of waste in adherence to waste disposal policies. It can gain precedence in developed and developing nations owing to huge consumption of food and waste accumulated from various types of food processing techniques.
The global food waste management market is expected to size is expected to reach USD 61.12 billion and CAGR of 5.80% % from 2023to 2030(forecast period), according to Market Research Future (MRFR).
Eminent industry players profiled in the global food management market report include
- Andritz Ag (Austria)
- Waste Management, Inc. (U.S.)
- Veolia Environnement S.A. (France)
- Republic Services, Inc. (U.S.)
- Stericycle, Inc. (U.S.)
- Covanta Holding Corporation (U.S.)
- Waste Connections, Inc. (Canada)
Key Factors Driving the Market:
Growing Awareness and Concerns:
Increasing awareness about food waste’s environmental impact and social consequences has driven individuals, businesses, and governments to take proactive steps towards reducing food waste generation.
Stringent Government Regulations:
Many countries and regions have implemented strict regulations to address food waste management, encouraging businesses and consumers to adopt sustainable practices and technologies.
Rising Need for Resource Efficiency:
Food waste represents a significant loss of resources, including water, energy, and agricultural inputs. As sustainability gains importance, businesses are seeking more resource-efficient practices.
Increasing Adoption of Technological Solutions:
Advanced technologies, such as IoT devices, data analytics, and AI-driven platforms, are being deployed to optimize food supply chains, reduce food spoilage, and enhance food distribution efficiency.
Emergence of Circular Economy Initiatives:
The concept of a circular economy, where waste is minimized, resources are reused or recycled, and products are designed for longevity, has gained traction in the food industry. This approach has contributed to the development of innovative waste management solutions.
The food waste management market can be segmented based on several criteria, including:
Waste Type: This includes food waste from households, restaurants, food manufacturers, and retailers.
Waste Management Method: Solutions can include source reduction, composting, anaerobic digestion, animal feed production, and food rescue programs.
End-User: Segments can be divided into residential, commercial, and industrial end-users.
Power Knot LLC has gained orders for liquid food composting biodigesters from the University of Nebraska Lincoln, U.S. Sustainable steps taken by the educational institute for disposing of surplus foods and reducing the carbon footprint can bode well for the company.
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