Food Waste Management Market size is anticipated to gain notable momentum during the time 2021 to 2027 owing to the escalating concerns over improper storage and food waste. The rise in the trade of food components has instigated an increase in food waste generation, complimenting the adoption of various advanced techniques, like gasification. The growing emphasis on limiting greenhouse gas emissions and the increased production of feed & fertilizers will be some paramount trends that will foster market growth.
With regards to the waste type, the food waste management market share from the fruits and vegetable is expected to grow commendably due to the increasing need for proper handling, processing, and storage of the produce. Fruits and vegetables are increasingly consumed as they play a crucial role in human diets and life. According to the United Nations FAO (Food and Agriculture Organization), the losses and waste in fruits and vegetables ranked highest in all types of foods and is likely to reach up to 60%. The rising preference for significant by-products derived from processing the operations of fruits and vegetables produce will add to the segmental expansion.
In terms of recycling process, the anaerobic digestion segment will see prominence, considering the higher requirement for effective fossil fuel alternatives. The surging need for sanitation, limited odor, and decreased number of pathogens will further boost the industry prospects.
Based on end-use, the food waste management market from municipalities & households will attain considerable momentum with the increasing adoption of batteries, clothing, and product packaging. The changes in lifestyles have made way for excessive wastes coming from the residential sector. The growing adoption of various technologies for waste reduction will also lead to segmental progression.
Application wise, the animal feed sector in the food waste management market is slated to witness exponential growth through 2027 driven by higher adoption in livestock. The rise in the processing of organic waste to yield feed can be accredited to the influx of various decontamination techniques. Increasing focus on cost-savings is another prominent trend driving the market growth.
Regionally, Europe food waste management market is pegged to record a significant revenue share on account of the increasing penetration of feed litter and the rising food wastage count. Owing to this, increasing efforts and initiatives have been undertaken by several government bodies. The robust presence of major industry players coupled with the emergence of various innovative recycling technologies will bolster the regional market size.
Shapiro Enterprises, Veolia Environment, Republic Services, SARIA, Suez Environment, REMONDIS SE (Rethmann Se & Co. Kg), and Indaver are some major food waste management industry participants worldwide.
These firms are consistently focusing on partnership-oriented strategies, such as mergers, acquisitions and partnerships, and various other growth and marketing initiatives to enhance their offerings while multiplying their sales.
For instance, in August 2021, Clean Harbors joined forces with a leading manufacturing firm, 3M for a novel collaborative effort to offer the best-in-class status to the latter’s operations in waste handling and management aspects.
In another instance, in January 2020, Veolia signed up an initiative, called the UK Food Waste Reduction Roadmap, in an attempt to help businesses limit food waste by 50% by 2030. Through this move, the company emerged as the first-ever recycling company.
The coronavirus crisis brought multiple shifts in businesses apart from substantially triggering the global economic landscape. The food waste management industry saw a declined demand due to reduced waste across the industrial arena. However, the storage limitations, stockpiling, as well as ineffective cooking practices by consumers increased the household food waste in the pandemic.