Global Food Waste Management Market: Overview
Growing population across the globe has increased the pressure on the agriculture and government to provide adequate food for all. Moreover, depleting agricultural area and changing patterns of agricultural production are also raising concerns for adequate food supply. Therefore, in the response to these issues, specific efforts are being made on reducing food waste and various food waste management techniques are being used. Governments, private organizations, NGOs, and individuals are coming up with new and different ways of reducing food waste. High demand for organic waste, due to its growing use in producing animal feed and fertilizers along with its reducing effect on greenhouse are few other factors estimated to drive demand for the food waste management systems.
According to the Transparency Market Research report on the global food waste management market, this market is expected to witness significant growth over the period of eight years from 2019 to 2027. This report elucidates on the key factors related to the market and its growth. Recent developments, revenue, new developments and initiatives, companies and government contributions, and ongoing trends related to the market are all discussed thoroughly.
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Global Food Waste Management Market: Notable Developments
Responsibility of providing food to each and every individuals lies in mainly in the hands of the government and various agricultural manufacturing companies. Both of them are making significant efforts to reduce food wastage and to make optimal use of food residue. In terms of government regulations, developed regions are imposing strict regulations as majority of food waste is generated from developed countries. Food waste is generated mostly from supply chain including, transportation, processors, logistics, distributors and retailers in these regions.
With Respect to Regulations
The National solid waste policy in Brazil is concentrating on minimizing total wastage volume generated at national level and increasing the sustainability of solid waste management. The policy includes the sectors such as healthcare, construction, transportation, forestry, industrial, and mining.
In European region, the waste management legislation made it compulsory for retail sectors, service providers, and food manufacturers to develop food waste disposal and recycling without affecting the environment.
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Innovative Steps Taken by Companies
In 2015, NEA suggested an outline to encourage use of processing practices and smart storage that will help in reducing food wastages and save money by reducing wastage at source.
Other top players in the food waste management market are also coming up innovative ways such as smart packaging that will help in reducing food packaging, enabling recycling of reduce, and similar other techniques. Some of the key players in the global food waste management market are Suez Environment, Veolia Environment, Republic Services, Inc., Waste Management, Inc., Stericycle, Inc., and Clean Harbors, Inc.
Global Food Waste Management Market: Drivers and Restraints
Major factors influencing growth in the global food waste management market include:
- Rapid growth in the food industry is the major reason behind the growth of food waste management market. rising trend of dining out, increasing number of restaurants, hotels, quick service restaurant, and other food outlet require better and advance food waste management techniques. Moreover, increasing food wastage mainly in food supply chain since the last decade, due to this several systems are installed including aerobic and anaerobic digestion processes for recycling food waste.
- Increasing population, high environmental awareness, and rapid industrialization has further boosted the demand for food waste management solutions. moreover, increasing consciousness among people to reduce food wastage is another major factor driving demand in the global food waste management market.
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Global Food Waste Management Market: Regional Outlook
Geographically, Europe and North America are the leading market for food waste management solution. Increasing government initiatives to reduce food wastage is one of the major factor behind their growth. Moreover, high investments in advanced disposable techniques for generating useful products such as fertilizers and biogas have also strengthen their position in the global market. On the other hand, Asia Pacific is also expected to contribute substantially in the food waste management market in the coming years, due to increasing wastage during transit.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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