Expansion of the global worries about food wastage is attributable to the expansion of the global food waste management market. Consumer demand for various types of food and exotic food products, such as premium coffee, tropical fruits, and imported food products, is likely to keep pace with expansion. Increasing trade of food and food ingredients between nations has resulted in the establishment of new supply chains, leading in a rise in food waste. As a result, governments and food management authorities have enacted more strict laws, thereby boosting development of the global food waste management market.
According to figures released by the United Nations’ Food and Agriculture Organization (FAO), over a third of the food produced yearly, or roughly 1.6 billion tons, is lost or wasted. Food waste emitted 4.4 gigatonnes (Gt) of carbon dioxide (CO2) every year, accounting for even more than 8% of global anthropogenic GHG emissions, as per the FAO.
Food processing plants, foodservice providers, merchants, and distributors, amongst many others, are obliged to register the origin, volume, and waste disposal procedures to their individual governments. This also provides policymakers with information on the quantity and origins of food waste, as well as allowing businesses to assess the value of their waste. This factor is estimated to support waste reduction.
Rising Demand to Reduce Emission of Greenhouse Gases to Drive Market Growth
Consumer curiosity about new varieties of exotic food items is rising, as is consumer understanding about the significance of reducing food waste. Besides, governments throughout the world are launching waste management awareness endeavors, which is expected to foster growth of the global food waste management market. Furthermore, the rising need for renewable energy as well as development presents profitable prospects for operators in the recycling and food waste processing industries. Furthermore, the global food waste management market is expected to undergo a transformation when novel food processing processes and technology are introduced.
The market’s expansion can be ascribed to the growing usage of organic waste in the manufacture of feed and fertilizers, as well as a rise in food waste globally and desire to reduce greenhouse gas emissions. Fruits and vegetables, as well as roots and tubers, are expected to control the global food waste management market in the years to come. Such growth of the market segments is owing to the huge amount of waste created by these product manufacturers. These wastes/scraps are readily available raw materials for composting and feeding anaerobic/aerobic digestion systems.
The cereals waste segment is expected to develop as a result of customers’ disregard for product expiry dates. Shortage of understanding on part of consumers about cereal storage as well as preservation procedures leads to excessive loss, which is likely to boost waste management demand in this category in the years to come.
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Combustion/incineration method is utilized to dispose of all sorts of food waste, saving both time and money. The combustion/incineration procedure includes converting food waste into ashes and heat by burning it. Furthermore, it is frequently employed to create heat and power in countries such as Denmark, Germany, Japan, and Sweden.
North America to Lead the Market due to Rising Commercial and Government Initiatives to Reduce Food Waste
North America is one of the leading regions in the global food waste management market, and this trend is projected to continue in the coming years. The regional market is likely to observe significant expansion as a result of rising commercial as well as government initiatives to reduce food waste. Huge expenditures in creating better disposable processes, as well as the existence of major companies, all contribute to the expansion of the global food waste management market. On the other hand, the Asia Pacific market is expected to develop rapidly due to an increase in food waste during transportation and increased need to reduce food waste
