Updates 2020: Food Waste Management Market To Reach USD 52.2 Billion By 2027 | CAGR 5.1% — Forencis Research
Global Food Waste Management Market: Key Highlights
- According to the new market research report “Food Waste Management Market by Waste Type (Cereals, Dairy Products, Fruits & Vegetables, Meat, Fish & Sea Food, Processed Food, Others), by Process (Aerobic Digestion, Anaerobic Digestion, Combustion, Others), by Source (Food Manufacturers, Primary Food Producers, Food Distributors & Suppliers, Food Service Providers, Municipalities & Households, Others), by Application (Fertilizers, Animal Feed, Biofuel, Power Generation, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global food waste management market is estimated to reach USD 52.2 Billion by 2027 at a CAGR of around 5.1% during the review period.
- Activities and mandatory actions to accomplish waste from its initiation to final clearance process is known as food waste management
- Production, processing, retailing, and consumption of food are various stages were food wastage generally occurs
- Food waste management offers various benefits including are lower carbon footprint, reduction in methane emission, preventing pollution involved in growing, producing, transporting, and selling, and conserve energy & resources
Global Food Waste Management Market: Key Market Dynamics
- Rising concern regarding growing global food wastage has expected to drive the growth of food waste management
- Increase in usage of organic waste for the production of animal feed & fertilizer has anticipated to drive the market growth
- Adverse effects of incineration and landfill techniques on the environment is expected to hamper the growth of food waste management market over the forecasted period
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Global Food Waste Management Market: Regional Overview
- North America
North America is anticipated to dominate the food waste management market during the forecasted period. This is attributed to the booming food industry in the U.S., Canada, and Mexico. According to the Governmnet of Canada, food & beverages processing industry in Canada’s second largest in terms of production with sales of goods manufactured worth USD 117.8 billion in 2019. Moreover, overproduction, lack of clod-chain infrastructure, market fluctuation, and varying customer demand has led to wastage of food which will further boost the demand for the market in the region.
Europe is anticipated to have sustainable growth in food waste management market during the forecasted period. This is attributed to government initiatives for reducing food wastage and increasing advancement in advanced disposable technique for acquiring useful products such as biogas & fertilizers. Moreover, the European Commission aims to reduce the number of feed dumps by 2025 which will further drive the growth of food waste management in the region.
Global Food Waste Management Market: Key Players Overview
Veolia is a France-based transnational company design and provides water, waste and energy management solutions. The company majorly operates through three business segments water, waste and energy management solutions. Veolia group has treated 50 million metric ton waste and has 675 waste processing facilities operated across the globe. Veolia recorded consolidated revenue of USD 29.9 billion in 2019.
SUEZ is engaged in producing smart and sustainable resource management systems. The company offers products such as water resource management, recovery & waste management, and resource management consulting for different industries and retail & service. SUEZ SA has a strong geographical presence across the globe. The company treated over 45 million tons of waste through its management facilities across the globe. In June 2017, SUEZ, launched Organix, a first digital marketplace for organic food. This will help to connect with producers of organic waste and methanation unit operators to transform waste into energy.
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