14-Dec-2021 | Zion Market Research
As per study of Zion Market Research, Food Waste Management industry amassed proceeds worth nearly US$ 35.2 billion in 2020 and is anticipated to accrue returns of approximately US$ 53.10 billion by 2028. Moreover, Food Waste Management market is prognosis to record CAGR of almost 5.5% in 2021-2028. Moreover, growth of food waste management market over forecast timespan can be credited to rise in consumer demand for exotic food such as premium coffee, tropical fruits, and imported food products. According to FAO, nearly over 30% of food that is produced is wasted across globe and this accounts for over 8% of anthropogenic greenhouse gas emissions in atmosphere. Apparently, various kinds of businesses are involved in food wastage and this includes wholesalers, foodservice providers, retailers, and food processing units. Furthermore, these businesses are required to inform about food wastage as well as food waste disposable methods to government who in turn help them in calculating cost of food waste, thereby promoting reduction in food wastage. Such moves will drive industry landscape.
Fruits & Vegetables Segment To Dominate Waste Type Landscape By 2028
Growth of fruits & vegetables segment over forecast timespan is owing to lack of proper storage capacity and processing of produce. In addition to this, fruits & vegetables are consumed massively and play key role in human diet. As per FAO, wastage in fruits & vegetables is highest among all food kinds and is set to hit nearly over 50% in near future. All these aspects is predicted to drive demand for food waste management activities in food & vegetables segment, thereby driving segmental growth.
Anaerobic Digestion Segment To Contribute Majorly Towards Overall Market Share Over 2021-2028
Expansion of anaerobic digestion segment in 2021-2028 can be attributed to reduction in pathogens & microbes in food when treated with anaerobic digestion or anaerobic biodegradation process. Apparently, the process limits odor & disease spread along with promoting hygiene. It also assists in energy & nutrient recovery from food wastage and thus drives market growth.
North American Market To Register Fastest Growth Over Forecast Period
Regional market growth over anticipated timespan can be credited to stringent food waste laws passed by government and effective storage & residual waste recycling practices carried out in countries such as the U.S. In addition to this, proficient integration of solid waste management will boost regional market expansion. Apparently, overproduction of food, damage of food crops, and rise in biofuel & bioenergy production from food waste will contribute sizably towards market revenue in North America.
Key players influencing growth of food waste management market and profiled in report include Remondis SE & Co. KG, FCC Environment Ltd., Advanced Disposable Services Inc., Veolia Environnement S.A., SUEZ, Covanta Holding Corporation, Waste Management Inc., Stericycle Inc., Clean Harbors Inc., and Waste Connections Inc.
Browse the full “Food Waste Management Market- By Waste Type (Cereals, Dairy Products, Fruits & Vegetables, Meat, Fish & Seafood, Oilseeds & Pulses, And Processed Foods And Coffee Grounds & Tea), By Process (Aerobic Digestion, Incineration/Combustion, And Anaerobic Digestion) And By Application (Animal Feed, Fertilizers, And Biofuel & Power Generation): Global Industry Perspective, Comprehensive Analysis And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/food-waste-management-market
The global Food Waste Management Market is segmented as follows:
By Waste Type
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