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Food Waste Management Market: Segmented by Type (Cereals, Dairy products, Fruits & Vegetables, Meat, Fish & Sea Food, Processed Food and Others); By Source (Primary Food Producers, Food Manufacturers, Food Distributors & Suppliers, Food Service Providers and Municipalities & Households); By Application (Animal Feed, Fertilizers, Biofuel and Power Generation); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Food waste management Market to surpass USD 83.23 billion by 2030 from USD 38.59 billion in 2020 at a CAGR of 5.9% in the coming years, i.e., 2021-30.
Food waste management encompasses all of the practices and actions required to complete waste from start to finish. Food waste management encompasses the waste collection, transportation, treatment, and disposal, as well as oversight and control. Food processing waste, which includes waste from poultry, meat, and seafood processing, agricultural produce processing, dairy food processing waste, and waste from other forms of food processing, is one of the major reasons for the increasing growth of food waste management.
Global Food Waste Management market is expected to project a notable CAGR of 5.9% in 2030.
In fast service restaurants and other hotel chains, food wastage is relatively high. Furthermore, food waste has risen in the food supply chain over the last decade, resulting in the installation of many systems that include aerobic and anaerobic digestion processes for food waste recycling. Food waste has been observed to be large in developing and underdeveloped countries. To address this issue, governments in various countries are enacting strict rules and regulations in order to reduce food waste.
Fruits & Vegetable segment to grow with the highest CAGR during 2020-30
Global Food waste management market is segmented by type into Cereals, Dairy products, Fruits & Vegetables, Meat, Fish & Sea Food, Processed Food, and Others. Fruits & Vegetable segment held the largest market share in the year 2020 due to a lack of adequate produce handling, transportation, and processing Ease in fresh produce waste management in the food management industry for the fruits and vegetable segment is expected to boost the market growth. Because of consumers' disregard for product expiration dates, the cereals waste type is expected to rise in popularity. Consumers' lack of awareness about cereal storage and preservation practices contributes to excessive wastage, which is expected to drive waste management demand in this segment over the forecast period.
Municipalities & Households segment to grow with the highest CAGR during 2020-30
Global Food waste management market is divided by source into Primary Food Producers, Food Manufacturers, Food Distributors & Suppliers, Food Service Providers and Municipalities & Households. Over the forecast period, the Municipalities & Households segment is projected to expand at the fastest pace. Food waste produced by households is expected to increase as the population grows and lifestyles change. Excessive shopping, excessive food preparation, inappropriate food handling, a lack of cooking skills, and improper storage are all factors that contribute to food waste in households. Food and meat spoilage due to changes in climatic conditions, improper handling, and the lack of proper storage facilities increased the amount of waste produced by food distributors and suppliers. Food waste is greatly increased by bulk size packaging combined with unsold stock in supermarkets.
Animal Feed segment to grow with the highest CAGR during 2020-30
Global Food waste management market is divided by application into Animal Feed, Fertilizers, Biofuel, and Power Generation. Over the forecast period, the Animal Feed segment is projected to expand at the fastest pace. Food waste can be used directly as animal feed or can be rendered and fed to livestock without incurring extra costs. Since other forms of food waste applications are more expensive, the cost of using waste in animal feed is significantly higher. Composting or anaerobic digestion of food waste produces digestate, which is high in microorganisms, micronutrients, carbon, and other nutrients including potash, phosphorus, calcium, sulfur, magnesium, and phosphate. The proper application of digestate as fertilizer helps farmers in soil management and reduces pollution of land and water due to synthetic fertilizer leaching.
Rising foodservice industry and increase in the food supply
Over the projected period, the demand is expected to be driven by the rapidly rising foodservice industry. In fast service restaurants and other hotel chains, food wastage is relatively high. Furthermore, food waste has risen in the food supply chain over the last decade, resulting in the installation of many systems that include aerobic and anaerobic digestion processes for food waste recycling. Food waste has been observed to be large in developing and underdeveloped countries. To address this issue, governments in various countries are enacting strict rules and regulations in order to reduce food waste. Food waste management companies are primarily focused on the emerging economies of the Asia Pacific region in order to raise customer awareness about food waste and management.
Global concerns about food waste and government intervention
This increase can be due to growing global concerns about food waste. Consumer demand for new types of food and exotic foods, such as tropical fruits, premium coffee, and imported goods, is expected to keep pace with development. Increased exchange in food and food ingredients between countries has resulted in the creation of new supply chains, which has resulted in a rise in food waste. As a result, governments and food management agencies have enacted more stringent legislation, boosting business growth.
Rising population and high costs associated with market
High cost of maintaining and operating food wastage as well as rising populations and high environmental awareness is expected to hamper the market for global food waste management.
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Global Food waste management market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Food waste management in North America held the largest market share in the year 2020. This is due to the Solid Waste Association of North America's (SWANA) growing support and programs in waste management, which include residential, institutional, commercial, and industrial waste storage in order to reduce waste in North America. Food waste management adoption is expected to grow rapidly in Asia Pacific, owing to high exports of various food products to North American and European countries, resulting in increased food waste during transit. To - the total generation of food waste, governments are investing in cold chain logistics and improving farm productivity.
Global Food Waste Management Market is further segmented by region into:
Food waste management Market Segments:
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