The global food waste management market size is expected to reach USD 54.29 billion by 2028 according to a new study by Polaris Market Research. The report “Food Waste Management Market Share, Size, Trends, Industry Analysis Report, By Waste Type (Cereals, Dairy products, Fruits & Vegetables, Meat, Fish & Sea Food, Processed Food); By Process (Aerobic, Anaerobic, Combustion/Incineration); By Source; By Application; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Food businesses such as processing units, restaurants, restaurant chains, service providers, wholesalers, and retailers must report origin, waste disposal process, and volume being used or processed to their respective authorities. It informs policymakers in the market the source of waste and enables certain measures to minimize wastage and its management.
Governments across the markets are involved in spreading waste management awareness programs, particularly in developed nations. Few notable campaigns include Love Food Hate Waste in the U.K, Think Eat Save by United Nations Environment Program (UNEP), and Stop Wasting Food in Denmark.
According to the study done by the FAO, around 45 percent of total fruits and vegetables are wasted all over the world and over 30 percent of cereals are wasted, owing to insufficient storage and transportation abilities. Countries, across the globe, are taking influential steps, which are expected to prosper segment market growth.
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The fruits and vegetables market segment accounted for the largest revenue share, in 2020. Fruits and vegetables are perishable products that shortened their life span. Lack of storage capacity, proper handling, processing of the agriculture produces also responsible for its high share. Improving a distribution network with a well-developed supply chain network-enabled food-management stakeholders to reap benefits and expected to have a positive impact on the segment’s market growth.
The dairy industry segment is projected to register a lucrative market growth over the waste management study period. This is due lack of cold storage facilities in the emerging economies and its highly perishable nature, a small fluctuation in temperature could damage the product quality. The cereals segment is anticipated to witness a moderate market growth rate during the study period.
This is primarily due to consumer’s negligence towards product expiry dates, lack of knowledge to store and preserve cereals for a longer time. Market participants operating in the waste management industry include Veolia, Suez, Waste Management, Inc., Republic Services, Inc., Covanta Ltd., and Stericycle, Inc.
Polaris Market Research has segmented the food waste management market report on the basis of waste type, process, source, application, and region:
Food Waste Management, Waste Type Outlook (Revenue – USD Million, 2016 – 2028)
- Dairy products
- Fruits & Vegetables
- Fish & Sea Food
- Processed Food
Food Waste Management, Action, Process Outlook (Revenue – USD Million, 2016 – 2028)
Food Waste Management, Source Outlook (Revenue – USD Million, 2016 – 2028)
- Primary Food Producers
- Food Manufacturers
- Food Distributors & Suppliers
- Food Service Providers
- Municipalities & Households
Food Waste Management, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Animal Feed
- Power Generation
Food Waste Management, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa