(MENAFN – GetNews) According to report published by Grand View Research, The global food waste management market size was estimated at USD 32.64 billion in 2018 and is anticipated to expand at a CAGR of 5.0% over the forecast period.
The global food waste management market size is expected to reach USD 45.80 billion by 2025, as per a new report by Grand View Research Inc. It is anticipated to register a CAGR of 5.0% during the forecast period. Rising concerns regarding wastage across the globe on account of increasing food trade and social interdependence between countries are expected to propel the growth.
Educatory and communicative actions such as Stop Wasting Food movement in Denmark, Love Food Hate Waste in U.K., and Think Eat Save are anticipated to positively influence the growth. These educational campaigns focus on web-based instruments and door-to-door interviews with citizens to spread understanding related to the prevention of wastage of edibles.
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Adverse effects of landfill and incineration techniques on the environment is a factor projected to hamper the market growth over the forecast period. However, precautions such as maintaining hygiene during combustion and landfill gas capture during the process aid in reducing the environmental impact of these processes, which is likely to influence growth of the food waste management market positively.
Food waste with high nutrient value is used as raw material and is undergoes various fermentation processes for the production of biofuel. This is expected to reduce the dependency on crude oil and drive the demand for food waste management for the by-products. In addition, use of the wastage as animal feed and fertilizers is expected to have a positive impact on market growth.
Further key findings from the study suggest:
- Fruits and vegetable segment is anticipated to witness a CAGR of 4.4% from 2019 to 2025, in terms of revenue owing to lack of appropriate transportation channels in the agrarian economies along with ease in waste management of the produce
- Anaerobic digestion technique is expected to expand at a CAGR of 5.4%, in terms of revenue, on account of rising awareness regarding the environmental and energy advantages associated with the process
- Animal feed application segment accounted for over 52.9% of the market share in terms of revenue in 2018, as converting wastage with high nutrient value into animal feed is an ecological and economical way of management and aids in animal health
- Asia Pacific food waste management market is expected to register at a CAGR of 4.6% over the forecast period on account of the rising feed dump in economies such as China, India, Thailand, and Malaysia
- The service portfolio of the significant players includes all waste management services provided across the customers and the market concentration in developed economies is increasing through consolidation and outsourcing the treatment
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Grand View Research has segmented the global food waste management market on the basis of waste type, process, application, source, and region:
Food Waste Management Waste Type Outlook (Revenue, USD Million, 2014 – 2025)
- Dairy Products
- Fruits & Vegetables
- Fish & Sea Food
- Processed Food
Food Waste Management Process Outlook (Revenue, USD Million, 2014 – 2025)
- Aerobic Digestion
- Anaerobic Digestion
Food Waste Management Application Outlook (Revenue, USD Million, 2014 – 2025)
- Animal Feed
- Power Generation
Food Waste Management Source Outlook (Revenue, USD Million, 2014 – 2025)
- Primary Food Producers
- Food Manufacturers
- Food Distributors & Suppliers
- Food Service Providers
- Municipalities & Households
Food Waste Management Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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