Global food waste management, Growth Opportunities, Innovations and Forecast, 2018-2025
According to a new report published by Reports Monitor titled, "Global food waste management, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global food waste market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Global food waste management is management of waste generating after food consumption or surplus foods, it comprises of dump related to processing loss, production inefficiency, consumption issue. The consumption issue is due miss management from human source which includes uneven production and consumption in restaurants, marriage, home and others.
Rise in use of bio fuel energy leading to growth of this market. Discarded substance from industry that is not recycled will be disposed of at the waste to energy facility for energy recovery. Recycling process produces the animal feed and organic fertiliser. Rising demand in end use application including animal feed, renewable energy source is driving the market. Further, Government initiative towards waste management furthermore requirement of reduction in green house gas in addition is also driving the market. Compliance with the United Nations Objective to Minimize Waste Disposal into Landfills and Need of Addressing Falling Natural Resources boosts the growth by increasing the awareness among the countries.
Incineration and landfills of non degradable products are harmful for soil and ultimately leading to soil pollution. Opportunities in the market are immense as there is a requirement to produce alternative source of energy, poor integrated waste management systems are being followed by private sectors and for improvement waste management system is required, opportunities are really high in the rural segment and the development going on in the technologies of waste management system is another opportunity for the market.
The market is segmented on the basis of waste type which includes cereals, dairy products, fruits and vegetables, meat, fish & sea foods, oilseeds and pulses, processed food, coffee grounds and tea. This market is again separated on the basis of process which includes aerobic and anaerobic digestion, incineration/combustion and others. Another way in which market is distributed is application which includes animal feeds, fertilisers, bio fuel, and power generation if end user is taken into consideration the market.
The global food waste management market is studied across regions: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). The North American region is projected to grow at the highest CAGR during the forecast period. The countries covered in the North American region are projected to be the fastest-growing markets for food waste management, due to the presence of large players such as Waste Management, Inc. (US) and Republic Services, Inc. (US). The growth of the primary producers and food distributors, along with food safety regulations in the country, is driving the food waste management market growth.
Key players: Veolia Environment, Suez, Waste Management Inc, Stericycle, Inc., Waste Connection, Inc., Clean Harbors, Inc., and others. The market includes players catering to global as well as their local markets.
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