NEW YORK, Aug. 9, 2023 /PRNewswire/ — The Global Food Waste Management market is projected to experience remarkable growth in the coming years, driven by mounting concerns over carbon emissions, increased emphasis on converting food waste into eco-friendly products, and the implementation of favorable regulations and policies. Technavio’s recent report projects a Food Waste Management Market growth at a significant 4.82% CAGR from 2022 to 2027, driving market size up by USD 10,068.67 million during this period. The food waste management market is segmented based on method (landfill, recycling, and incineration), application (feed, fertilizers, biofuel, and power generation), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Additionally, the report includes historic market data from 2017 to 2021, providing valuable insights for companies to refine their marketing strategies and gain a competitive edge. Click here to view the report.
Technavio’s research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
- Casella Waste Systems Inc.
- Cleanaway Waste Management Ltd.
- Covanta Holding Corp.
- FCC SA
- GFL Environmental Inc.
- Hitachi Zosen Corp.
- Interstate Waste Services Inc.
- PHENIX SAS
- PreZero Stiftung and Co. KG
- Recology Inc.
- Republic Services Inc.
- RETHMANN SE and Co. KG
- US Foods Holding Corp.
- Van Dyk Recycling Solutions
- Veolia Environnement SA
- Waste Connections Inc.
- Waste Management Inc.
- Winnow Solutions Ltd
Key takeaways of the Food Waste Management Market report:
- Driving Factors: The market growth is driven by various factors, including growing concerns about carbon emissions, which leads to the adoption of food waste management practices to reduce greenhouse gas emissions. Additionally, the conversion of food waste into bio-based products and organic fertilizers, along with the implementation of favorable regulations and policies, further supports the market’s expansion.
- Regional Dominance: North America emerges as a dominant player, contributing around 36% of the market’s growth by 2027. The region’s focus on sustainable practices, such as the Food Recovery Challenge, has supported its position in the market. Europe also exhibits strong potential due to favorable regulations and the rise of startups offering innovative waste management solutions.
- Challenges to Overcome: One of the major challenges hindering market growth is the increasing risk of fire accidents in landfills. Proper waste management practices are crucial to mitigate this risk and ensure safe and sustainable waste disposal.
- Innovative Startups: The market is witnessing the rise of startups offering sustainable food waste management solutions, redirecting food waste from landfills through recycling, donations, and animal feed applications. These initiatives are expected to drive market growth and foster sustainable practices.
- Impact of COVID-19: The market experienced disruption during the COVID-19 pandemic, but with the initiation of large-scale vaccination drives, industrial activities resumed, contributing to the market’s recovery and growth prospects.
- Opportunities for Companies: Companies can leverage the insights from the report to develop growth strategies based on the market’s segmentation and regional trends. Emphasizing sustainable practices and innovative waste management solutions can help companies gain a competitive advantage in this evolving market. To get an insight into the Food Waste Management Market drives and trends, download the sample report here.
The food waste management market is poised for remarkable growth, driven by a combination of factors such as rising concerns about carbon emissions, the conversion of food waste into eco-friendly products, and supportive regulations. With the increasing emphasis on sustainable practices and the rise of innovative startups, the market presents a promising landscape for companies to contribute to a greener future while gaining a competitive edge. As the world strives for environmental sustainability, efficient food waste management emerges as a crucial solution to reduce waste, mitigate carbon footprints, and foster a more sustainable future. Buy the report to get full insights into the Food Waste Management Market and make informed decisions.
Below, find a few related reports:
Global Food Waste Disposers Market: The food waste disposers market is expected to grow at a CAGR of over 6% during the forecast period 2021 to 2026. The report is segmented by distribution channel (offline, online) and geographic regions (America, APAC, EMEA).
Plastic Waste Management Market: The plastic waste management market share is expected to increase by USD 6.33 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.49%. The report covers market segmentation by type (incineration, disposal, and recycling) and geography (APAC, Europe, North America, Middle East and Africa, and South America).
About Technavio
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SOURCE Technavio
