Global Food Waste Management Market |
Forecast Analysis 2023-2030
As per Triton Market Research’s report, the global food waste management market, which gained $40552.16 million in 2022, is expected to progress with a CAGR of 5.66% during the forecast period 20232-2030.
A recent study by Triton Market Research titled ‘Global Food Waste Management Market’ includes the Global Analysis and Forecasts by Service (Recycling [Animal Feed, Power Generation, Fertilizers, Biofuels], Disposal, Collection), Source (Food Distributors and Suppliers, Primary Food Producers, Municipalities and Households, Food Manufacturers, Food Service Providers), Waste Type (Processed Food, Dairy & Dairy Products, Meat, Poultry & Seafood, Cereals, Fruits & Vegetables, Other Waste Types), and Regional Outlook (Latin America, Asia-Pacific, Europe, Middle East and Africa, North America).
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Given the rise in world population, the demand for food has soared in recent years. This has also led to increased food wastage, leading to health issues, environmental harm, and landfill expansion. The food waste management system emerges as an ideal solution to regulate food waste.
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As per Triton’s research report, the global food waste management market is set to garner revenue worth $63315.54 million by 2030, growing at a CAGR of 5.66% during the forecast period 2023-2030.
The market is expanding as a result of things including rising quantities of trash produced worldwide, a growing focus on reducing greenhouse gas emissions, and rising utilization of organic waste. Organic food waste is thought to be very helpful for supplying both macro- and micronutrients to soil. It also promotes healthy crop development by reducing the need for pesticides to control plant diseases. Therefore, as previously said, these factors expand the market for food waste management.
On the other hand, ineffective food waste collecting systems and waste processing techniques have a negative environmental impact, which makes it difficult for the food waste management business to grow internationally.
The food waste management market is broadly segmented into service, source, and waste type. The service section is divided into recycling, disposal, and collection. The recycling section is further branched into animal feed, power generation, fertilizers, and biofuels. Based on source, it is categorized into food distributors and suppliers, primary food producers, municipalities and households, food manufacturers, and food service providers. Lastly, the waste type section is sectioned into processed food, dairy & dairy products, meat, poultry & seafood, cereals, fruits & vegetables, and other waste types.
North America dominates the food waste management market. The market’s growth is fueled by the rise in food waste in the US and Canada. As per estimates, around 126 million tons of food waste is generated in the US. The estimated per-capita food wastage in the US is the highest globally. This has prompted the government to implement various programs to reduce and manage food wastage, resulting in high demand for waste management systems. Hence, such developments are estimated to create opportunities for the food waste management market.
FCC Environmental Services, Clean Harbors Inc, Casella Waste Systems Inc, Cleanaway Waste Management Limited, GFL Environmental Inc, Suez SA, Waste Management Inc, Veolia, Republic Services Inc, and Waste Connections Inc are major companies in the food waste management market.
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Question & Answer: Food Waste Management Market
Question 1: What factors prompt the growth of the food waste management market?
Answer: The market’s growth is prompted by factors such as increasing global waste levels, increasing emphasis on limiting GHG emissions, and surging use of organic waste. Organic food waste is considered highly beneficial in fertilizing soil, providing micronutrients and macronutrients. Additionally, it decreases the need for chemicals to control plant diseases, supporting healthy crop development. Thus, as stated above, these factors widen the scope of the food waste management market.
Question 2: What aspects impede the expansion of the food waste management market?
Answer: The harmful environmental impact of waste processing methods and inefficient food waste collection systems impedes the global expansion of the food waste management market.
Question 3: Which region dominates the food waste management market?
Answer: North America dominates the food waste management market. The market’s growth is fueled by the rise in food waste in the US and Canada. As per estimates, around 126 million tons of food waste is generated in the US. The estimated per-capita food wastage in the US is the highest globally. This has prompted the government to implement various programs to reduce and manage food wastage, resulting in high demand for waste management systems. Hence, such developments are estimated to create opportunities for the food waste management market.
Question 4: Which are the major companies in the food waste management market?
Answer: FCC Environmental Services, Clean Harbors Inc, Casella Waste Systems Inc, Cleanaway Waste Management Limited, GFL Environmental Inc, Suez SA, Waste Management Inc, Veolia, Republic Services Inc, and Waste Connections Inc are major companies in the food waste management market.
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GLOBAL E-WASTE MANAGEMENT MARKET
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According to Triton Market Research, the global e-waste management market is estimated to advance at a CAGR of 12.45% in terms of revenue and 5.55% in volume during the forecast years from 2021 to 2028.
Factors such as reduction in electronic devices’ lifespan, scarcity of precious metals, and high rate of obsolescence drive the studied market’s growth. However, increased recycling costs and fewer e-waste collection zones, reduction in workforce, and illegal export of e-waste restrict the e-waste management market’s expansion.
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