- The alarming rise of food waste has spurred growth in the food waste management market.
- The emergence of new technologies for disposal of waste, followed by need for generating alternative source of energy, serve as opportunities for growth.
- North America continues to dominate market share in food waste management.
Food wastes mainly consists of oils, fats, and by-products of animals which is converted into sellable commodities that includes tallow, high protein meat, and grease among others. These commodities are used in production of biofuels, soap, animal feed, cosmetics, toothpaste, leather, lubricants, pharmaceuticals, etc. Food waste is emerging as a social and economic problem with consequential implications on environment.
Food wastage is set to rise at an alarming rate thereby hosting various challenges for the food industry during the forecast period, consequently leading to the growth of food waste management market. In addition, unwanted dump resulting from food at marriages, parties, restaurants, and hotels also supports the need of a proper food waste management. All these factors are contributing to the growth of food waste management market during the forecast period.
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Food waste utilization as a renewable source of energy is an important factor driving the global food waste management system market. Food waste is one of the source of methane which is utilized as a renewable source of energy to power the various treatment plants. Trend shows that major share of feed litter generated from food waste is recycled to produce organic fertilizers or animal feed leading to the growth of global food waste management market. On the other hand, emergence of new technologies for disposal of waste followed by need for generating alternative source of energy serves as opportunities in the global food waste management market.
The global food waste management is segmented by waste type, application, and process. Based on waste type, the market is categorized into fruits and vegetables, cereals, fish & seafood, processed foods, dairy products, coffee grounds & tea, meat, and oilseeds & pulses. In 2017, fruits and vegetables held the largest share in terms of value.
Fruits and vegetables waste is mainly generated owing to adversity of retailer quality standards followed by overproduction which in turn is expected to bolster the demand of this segment during the forecast period. In terms of application, the global food management waste market is further segmented into animal feed, biofuel, fertilizers and power generation. In 2017, animal feed held the largest market share in terms of value. Food waste is basically recycled to produce animal feed.
Owing to the high prices of traditional animal feed, manufacturers are shifting towards recycled food waste as animal feed production from food waste is the ecological and economical method of management of food waste. In terms of process, the market is further segmented into aerobic digestion, incineration or combustion, anaerobic digestion, and others (redistribution, minimization, and disposal). Anaerobic digestion is the widely used process owing to the fact that this process causes less environmental pollution.
Based on the geographical segment, the region with largest market share of the food waste management market in terms of value was North America in 2017. Product innovations in the process of food waste management offered by key players such as Republic Services Inc. and Waste Management, Inc. among others is bolstering the growth of this market in this region. Europe followed North America in the global food waste management market. Asia Pacific region is projected to be the fastest growing region during the forecast period from 2018 to 2026 owing to increasing feed dumps in countries that includes India and Malaysia.
Global Food Waste Management Market is segmented on the following basis:
- By Waste Types
- Fruits and Vegetables
- Fish and Seafood
- Processed foods
- Dairy products
- Coffee Grounds & Tea
- Oilseeds and pulses
- By Application
- Animal Feed
- Power Generation
- By Process
- Aerobic Digestion
- Incineration /Combustion
- Anaerobic digestion
- Others(Redistribution, Minimization, and Disposal)
- By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle-East & Africa (MEA)
- Rest of MEA
- North America
Key players across the food waste management value chain are:
Suez Environment , Waste Management Inc., Republic Services Inc., Veolia Environment , Covanta Holding Corporation , Waste Connections, Inc. , Biffa Group Limited, Advanced Disposable Services Inc., Rumpke Consolidated Companies, Inc. , Clean Harbors, Inc., Remondis SE & Co. Kg and Stericycle, Inc. among others