Food Waste Management Market worth 42.37 Billion USD by 2022
The food waste management market is segmented on the basis of waste type, process, application, end user, and region. The food waste management market, by waste type, includes dairy products, fruits & vegetables, meat, cereals, fish & seafood, oilseeds & pulses, processed foods, and coffee grounds & tea. The market on the basis of process is segmented into aerobic digestion, anaerobic digestion, incineration/combustion, and others such as land fillings, electrodialysis, pyrolysis, and ozonation. The market, by application, is also segmented into animal feed, fertilizers, biofuel, and power production. On the basis of region, it is segmented into North America, Europe, Asia Pacific, South America, and Rest of the World (RoW).
The primary factor that drives the food waste management market is the rise in the global wastage of food and need for reducing greenhouse gas emissions. The amount of food going into municipal solid waste (MSW) in the US in 2011 was 21.4% of the total municipal solid waste, which is equal to 77 thousand pounds, according to the EPA. Rise in the total volume of food waste and high scope of its reusability for various applications will drive the market for food waste management. The amount of greenhouse gas (GHG) emitted from waste is increasing steadily; according to Eurostat, the GHG emission from 1990 to 2011 was approximately 53 million tons per year in EU-27. Climate change has become a major driver for waste management in public and private organizations as it directly affects the survival of living beings.
On the basis of waste type, the fruits & vegetables segment is projected to grow at the highest CAGR from 2017 to 2022. This is due to the reason that fruit & vegetable residues have high biomethane potential to be used for co-digestion in the anaerobic digestion process, and this waste can be further used as feed for livestock. Currently, the fruits & vegetables segment is witnessing high demand, as fruit & vegetable scraps are easily available raw materials for compost and as feed for anaerobic/aerobic digestions.
The anaerobic digestion process is projected to grow at the highest CAGR from 2017 to 2022. This can be attributed to the fact that the product, that is, compost or fertilizer that is produced after anaerobic digestion is high-quality manure.
The global food waste management market, by application, was dominated by the animal feed segment in 2016, while the biofuel segment is projected to grow at the highest CAGR during the forecast period. Biofuel is a renewable source of energy, which is a major factor driving the use of biomass as a source of biofuel.
On the basis of end user, the municipalities & households segment dominated the food waste management market in 2016. The food service providers segment is projected to grow at the highest CAGR during the forecasted period. As consumers pay retail prices for food, the value of food loss or food waste is higher at the consumer end, making municipal and household segment one of the largest food waste segments, thereby leading to high usage of waste management services.
The food waste management market is dominated by the North American region in 2016; the region is also projected to grow at the highest CAGR during the forecast period. Economic factors such as the increase in the number of fixed investments and new waste management services are expected to drive this market in the next five years in North America. The key market players in the North American food waste management market include Waste Management, Inc. (US) and Republic Services, Inc. (US).
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· To get an overview of the global food waste management market
· From an insight perspective, this research report has focused on detailed analyses—industry, market share of top players, and company profiles
· This report also explains high-growth segments of the global food waste management market, its high-growth regions and, drivers, restraints, opportunities, and challenges
The key players in the food waste management market include:
· Veolia Environnement (France)
· SUEZ (France)
· Waste Management, Inc. (US)
· Republic Services, Inc. (US)
· Stericycle, Inc. (US)
· Covanta Holding Corporation (US)
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