In 2022, the food waste management market is expected to be worth $62.6 billion. According to Future Market Insights (FMI), the overall market value would reach US$ 116.4 billion by 2032, with a CAGR of 6.4 percent from 2022 to 2032.
Any uneaten or abandoned food, whether liquid or solid, is considered food waste. Food waste management is the collection of all activities and actions that lead to the final disposal of this waste. Food waste management encompasses activities such as food collection, treatment, and disposal.
Food waste and spoilage have increased, requiring a rethinking of resource use and sustainability. Governments and organizations are attempting to reduce regional and local waste, as well as consumer awareness of the effects of food waste. Additionally, growing living costs, resource scarcity, and raw material costs are forcing businesses and consumers to reduce waste.
Food Waste Management Market Study Key Takeaways
- In the global food waste management market, the food waste prevention segment is predicted to score relatively high on the attractiveness index. The food prevention category is expected to dominate the market by 2022.
- From basic manufacturing to ultimate end consumption, food loss and wastage occur at every step of the supply chain.
- According to an FMI survey, the supply chain, which includes producers, processors, distributors, transportation & logistics, and retailers, accounts for 85 percent to 90 percent of overall food waste in emerging economies. Food loss is most common in poor nations at the beginning of the supply chain due to limited technology, insufficient infrastructure, harsh climatic conditions, insufficient processing, and lack of marketing.
- In contrast, food losses and wastage are common in industrialized economies at the downstream stages of the supply chain.
- By waste type, food processing wastes are expected to lead the food waste management market in 2019.
Competitive environment :
Advanced Disposal Services, Inc., Waste Management, Inc., Waste Connections Inc., Republic Services, Inc., Stericycle, Inc., Clean Harbors, Inc., CT Environmental Group Ltd., FCC Environment Ltd., Recology Inc., Veolia Environnement SA, DeIorio’s Foods Inc., and others are among the market’s leading companies.