The Global Food Waste Management Market was valued at $43.2 Billion in 2020. Growing at a high CAGR of more than 6.3% between 2021 and 2031, it is estimated to reach $89.3 Billion by 2031. But, the current pandemic of COVID-19 might make a slight difference in the current year's growth rate. Food waste management includes all the activities and actions compulsory to accomplish waste from its initiation to its final clearance. Food waste management includes gathering, transport, treating, disposal of garbage, and monitoring and regulation. Increasing buyer preference for exotic food and new types of food items, including premium coffee, tropical fruits, and imported products, drives the market growth. The growing trade of food and food ingredients between various countries is also propelling the market growth during the forecast period. The increasing food service industry is expected to drive the market over the forecast period. Now, moving forward, the robust demand for the Global Food Waste Management Market in the waste food management department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Food Waste Management Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Food Waste Management market is segmented as waste type, process, source, and application. Based on Waste Type, the global Food Waste Management market has been divided into Cereals, Dairy products, Fruits & Vegetables, Meat, Fish & Sea Food, Processed Food, and Others. Based on Process, the global Food Waste Management market has been bifurcated as Aerobic, Anaerobic, Combustion/Incineration, and Others. Based on Source, the global Food Waste Management market is classified as Primary Food Producers, Food Manufacturers, Food Distributors & Suppliers, Food Service Providers, and Municipalities & Households. Based on Application, the global Food Waste Management market has been bifurcated as Animal Feed, Fertilizers, Biofuel, and Power Generation.
By Region, Europe is Holding the Major Market Share
The Food Waste Management Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, Europe has a significant share among those regions. The regional market comprises developing nations whose development rate is faster than most of the developing countries in the world. The availability of advanced technology, experienced and skilled employees and increasing demand for waste food management systems are the prime factors for the market growth over the region. Favorable rules and regulations and increasing awareness regarding food drive the market growth. Apart from that, North America and the Asia Pacific are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031.
Major Players in the Global Food Waste Management Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Waste Management, Inc., Advanced Disposal Services, Inc., Republic Services, Inc., Waste Connections Inc., Clean Harbors, Inc., Stericycle, Inc., FCC Environment Ltd., CT Environmental Group Ltd., Veolia Environnement SA, Recology Inc., and DeIorio's Foods Inc. among others.
The Global Food Waste Management Market Has Been Segmented into:
Global Food Waste Management Market: By Waste Type
Global Food Waste Management Market: By Process
Global Food Waste Management Market: By Source
Global Food Waste Management Market: By Application
Global Food Waste Management Market: By Region