Food Waste Management Market
One-third of the food grown for human consumption is never consumed which leads to the food waste. Food waste is the organic waste which is generated when food which is discarded or lost uneaten by the humans. The food waste generally occurs at the stages of production, processing, retailing and consumption of food. The food going out of date is the main reason for the wastage of food in the household. These food waste needs to be managed and converted into useful by-products so that it does not affect the environment during its bio-degradation process.
Increase in the amount of unwanted food dumped across the globe because of the uneven production and consumption of food in restaurants, homes, marriages, and parties have led to the increase in the need for management of food waste generated. Rapid industrialization, reducing greenhouse emission, and increase in the usage of organic waste for production of animal feed and fertilizers have also influenced the growth of the global food waste management market. The importance of research and innovation for developing various technologies which are efficient for food waste management also fuels the growth of the market. Stringent waste management regulations incorporated by the world governments has led to the adoption of waste management services by various industry verticals and household which drives the growth of the market. The restraining factor for the food waste management market is the landfill and incineration techniques which cause harmful effects on the environment.
The waste type segment is bifurcated into cereals, dairy products, fruits & vegetables, meat, fish & seafood, oilseeds & pulses, processed foods and coffee grounds & tea. Fruits & vegetables require proper handling and also have a low shelf life as compared to other waste types. Due to its high biodegradability, they posses environmental problems and also has more economic cost as compared to other food wastes. Due to these reasons, the fruit & vegetable segment is expected to dominate the market in the forecast period.
On the basis of process, the food waste management market is divided into aerobic digestion, anaerobic digestion, incineration/combustion and others. Anaerobic digestion is a technique which is used to produce high-quality of a product like compost from the food waste. The compost produced can be used as organic fertilizer and is less harmful to the environment. Due to the product generated, the anaerobic digestion process is expected to dominate other processes.
Based on application, the market is segmented into animal feed, fertilizers, biofuel, and power generation. Animal feed segment accounted for the largest share in 2016 and is also expected to lead the market in the forecast period. Food waste consists of organic waste which can be decontaminated using sterilization technique and can be used as a feedstuff for the animals. There are various techniques used to convert food waste into animal feed, such as using leeches to convert or using different machines.
North America is projected to continue its supremacy, in global food waste management market, which will be followed by Europe in the forthcoming years. The increasing technological innovation in different processes of food waste management is responsible for the overall growth of the market in North America.
Some of the key players in the global food waste management market are Veolia Environment, SUEZ, Waste Management Inc., FCC Environment Ltd., Remondis SE & Co. KG, Stericycle Inc., Clean Harbors Inc., Covanta Holding Corporation, Advanced Disposable Services Inc. and Waste Connections Inc. Some Players are engaged in providing a line of various waste management services, which are highly useful in the food industry.