The global food waste management market is expected to witness substantial growth over the forecast period on account of surge in the amount of unwanted dump resulting from uneven production and consumption in restaurants, homes, marriages, and parties. Rise in the processing losses; production inefficiency is expected to drive industry growth.
The factors such as the need for reducing greenhouse emission, increase in the usage of organic waste for the production of animal feeds and fertilizers, rising energy requirements are projected to have a positive impact on the market. Rapid industrialization, the importance of innovation and R&D for developing efficient food waste management system is likely to influence market growth.
The industry can be segmented based on source of food waste generation which indicates the type of waste such as fruits & vegetables, dairy products, cereals, meat, fish & seafood, oilseeds & pulses, processed foods, and coffee grounds & tea. Among all sources, fruits & vegetable segment is projected to grow at higher rate over the forecast period.
The amount of waste generated from fruits & vegetables along with roots & tuber is higher as compared to its counterparts on account of biodegradability associated with it, which poses environmental problems and loss of valuable biomass. The economic costs associated with fruits & vegetable waste is very high as compared to other waste types.
A wide range of recycling processes are used by the players involved in the food waste management markets including aerobic digestion, anaerobic digestion, incineration or combustion and other processes such as redistribution, minimization, and disposal. However, anaerobic digestion process is the most widely used process and accounted for the largest share in 2016.
Anaerobic digestion process produces high-quality biproduct such as compost which is a premium quality organic fertilizer and causes less environmental pollution. Food waste management industry recycle around 97% of feed litter generated to produce animal feed and organic fertilizer. Based on physical state of the waste generated different processes are employed.
The food waste management market is segmented on the basis of application industries of the recycled product generated. The different process generates organic products which have high demand in applications such as animal feeds, renewable energy, and surge in demand is supplemented by growing application of disposal in fertilizers manufacturing.
Renewable sources of energy, mainly biogas is gaining the focus on account of its clean form and economical processing cost. Growing concerns about environmental impact and feeding rising population in developing economies while reducing the consumption losses are expected to propel market growth over the forecast period.
Animal feed accounted for the largest application segment of the market in 2016 and expected to grow over the forecast period. Animal feed production is the economic and ecological method of food waste management. However, biofuel also has potential to grow as source of fossil fuel and cooking gas which in turn drive food waste management market.
Food service industry, hotels, and restaurants consume high amount of food and beverage products which generate huge amount of waste. The market for food waste management services has increased in past few years as various systems are utilized by hotel chains and restaurants involving aerobic and anaerobic recycling process.
Food waste management services are also used by industries including primary food producers, food manufacturers, food distributors and suppliers, municipalities and households. Households use food waste management process for energy generation and as an important source of cooking gas.
North America is expected to grow at highest rate over the forecast period on account of rising consumer awareness and government regulations, particularly in U.S. and Canada. These countries are pioneers in conducting different processes of food waste and is the hub of large feed manufacturing companies.
Growth in the North America is attributed to various innovations in different process of food waste management and presence of major players such as Waste Management, Inc., Republic Services Inc. and many other. The rise in the primary food producers and food distributors in addition to the food safety regulations is driving the market for food waste management in the region.
Food waste management market in Asia Pacific is expected to witness substantial growth on account of increasing feed dump in countries mainly in Malaysia and India. The government in majority of the countries across the globe have imposed restrictions on conventional landfills and incineration methods for unwanted feeds.
Major industry contributors occupying the market of food waste management are Veolia Environment, Suez, Waste Management Inc., Stericycle, Inc., Waste Connection, Inc., Clean Harbors, Inc., and others. The market includes players catering to global as well as their local markets.
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