, January 25, 2023
/PRNewswire/ — The size of the global food waste management market is anticipated to reach $106.7 billion by 2030, according to a new report from Grand View Research, Inc.
The market is expected to expand at a CAGR of 5.4% from 2023 to 2030. Rising concerns about global food waste and increasing consumer preference for exotic foods are expected to drive market growth over the forecast period.
Key industry insights and findings from the report:
- The fruit and vegetable segment dominated the market accounting for 20.3% of global revenue share in 2022 due to a lack of proper product handling, storage and processing.
- The disposal segment dominated the market accounting for 25.4% share of global revenue in 2022 as treated food waste has fewer pathogens and therefore restricts the spread of odors and disease and promote hygiene and sanitation.
- The residential end-use segment dominated the market, accounting for 44.2% of global revenue share in 2022. Rapid population growth and changes in lifestyles are expected to increase food waste generated by the homes.
- Europe It is estimated to witness a CAGR of 5.4% during the forecast period as strict regulations on food waste management are expected to drive the market in the region during the forecast period.
- The market is competitive in nature due to the presence of multinationals operating in the industry. It is characterized by the presence of a significant consumer base with companies operating their business through dedicated distribution networks.
Read 150-page market research report, “Food Waste Management Market Size, Share, and Trends Analysis Report by Waste Type (Fruits and Vegetables), By Source, by Service Type, by Region, and Segment Forecasts, 2023 – 2030″, published by Big View Research.
Food Waste Management Market Growth and Trends
The consumption of ready-to-eat and packaged foods is also forecast to increase as a result of changes in lifestyles and the increase in the number of dual-income families. Rising consumer demand for unusual foods like premium coffee, tropical fruits, and imported produce is expected to increase the amount of food being wasted, which in turn is likely to fuel market expansion.
The food industry is undergoing tremendous changes, such as a ban on plastic, the rise of veganism, a strict regulatory framework, the presence of e-commerce, the adoption of modern technologies and waste reduction, and is experiencing an increase in international trade. of food and food. ingredients, which is creating new supply chains, thus increasing market demand.
Rising per capita income is expected to boost demand for packaged and ready-to-eat food around the world, which will boost the generation of food waste. High consumer disposable income and regained confidence in the economy are expected to boost consumption of food and beverages, which, in turn, is likely to help market growth.
Food waste is treated in various ways, such as incineration and composting, although landfill and incineration have a negative impact on the environment. However, implementing precautions like energy recovery through municipal wastewater treatment plants and collecting landfill gases during the process help reduce environmental impact, fueling market growth.
Companies like Veolia Environnement SA, Suez and Covanta Ltd. are making strategic acquisitions and product launches to strengthen their product portfolio. for example in February 2022Veolia Environnement SA and TotalEnergies signed an agreement to upgrade biomethane from Veolia’s wastewater treatment plants and waste processing facilities.
Food Waste Management Market Segmentation
Grand View Research has segmented the global food waste management market based on waste type, source, service type, and region.
Food Waste Management Market – Waste Types Outlook (Revenue, USD Million, 2018 – 2030)
- Dairy and milk products
- Fruits vegetables
- Bird meat
- Fish and Seafood
- Oilseeds and pulses
- Roots and Tubers
Food Waste Management Market: Source Perspective (Revenue, Million USD, 2018 – 2030)
Food Waste Management Market – Service Types Outlook (Revenue, USD Million, 2018 – 2030)
Food Waste Management Market: Regional Outlook (Revenue, Million USD, 2018 – 2030)
- North America
- United Kingdom
- Pacific Asia
- South Korea
- central and South America
- middle East & Africa
List of Key Players in Food Waste Management Market
- waste management, inc.
- republic services, inc.
- Covanta Ltd.
- Stericycle, Inc.
- Remondis SE & Co., KG
- Clean Harbors, Inc.
- Advanced Removal Services, Inc.
- FCC Recycling (UK) Limited
- ds smith
Check out more related studies published by Grand View Research:
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- Food Processing Equipment Hot Market – The size of the global hot food processing equipment market is expected to reach $35.72 billion by 2030, registering a CAGR of 6.3% during the forecast period, according to a new report from Grand View Research, Inc. The market is driven primarily by growing demand for bakery products, processed foods, and increased consumption of meat along with food innovation. processing.
- Food Container Market – The size of the global food container market is anticipated to reach $201.9 billion by 2028, registering a CAGR of 4.2% during the forecast period, according to a new report from Grand View Research, Inc. The global market is predominantly driven by rapid growth in the food processing industry, primarily in emerging markets. Additionally, the growing need to reduce carbon footprints and the increasing adoption of bioplastics in the packaging industry are driving the market. In addition, innovation and new product development are attracting food manufacturers, which is expected to increase market growth.
Browse through Grand View Research Processing and food safety Industry Investigation reports.
About Grand View Research
Grand View Research, a US-based market research and consulting company, provides custom syndicated research reports and consulting services. Registered in California and based in San Francisco, the company employs more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in the top 25 countries of the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess the opportunities ahead.
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