Food loss, coupled with ecological risks, is leading to a growing need for sustainability and effective food waste management facilities. The amount of food thrown away is increasing at an astounding rate each year. World Bank reports “What a Waste 2.0: A Global Snapshot of Solid Waste Management to 2050” in 2022 which anticipates more than 3 billion tons of waste to be generated annually by 2050. This signals a sharp increase from the current volume, i.e. 2 billion tons.
According to the United States Environmental Protection Agency (EPA), more than 38 million tons of food waste was generated in 2014, with a mere five percent diverted from incinerators and landfills. EPA estimates that food accounts for 21.6% percent of discarded municipal solid waste generated in the country. Food losses and waste bring to light the inefficiency of food value chains and food systems, which cause a fall in overall food availability.
The increasing food loss and wastage has led to a growing focus on decreasing the total volume of waste produced while increasing efforts to bring about sustainability in food waste management worldwide. The global food waste management market is anticipated to be valued at US$ 62.6 Bn in 2022. Future Market Insights (FMI) projects that the food waste management market will see a significant CAGR of over 6.4% during 2021 – 2032.
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Key Takeaways – Food Waste Management Market Study
- The food waste prevention segment is expected to rank relatively high on the attractiveness index in the global food waste management market. In 2022, the food prevention segment is anticipated to dominate the market.
- Food loss and wastage occurs at each node of the supply chain, from primary production to final end consumption.
- According to FMI survey, it is observed that around 85% to 90% of the overall food wasted in the developing economies is in the supply chain, including producers, processors, distributors, transportation & logistics, and retailer levels. In developing economies, food loss usually occurs in the earlier stages of the supply chain as a result of limited technology, inadequate infrastructural facilities, unfavorable climatic conditions, and insufficient processing and lack of marketing.
- In contrast, developed economies witness food losses and wastage to a substantial extent at the downstream stages of the supply chain.
- In 2019, food processing wastes is estimated to dominate the food waste management market by waste type.
- Rising preference for animal food production from food waste is expected gain traction in the food waste management market in the foreseeable future. Animal Feed, followed by fertilizers, are anticipated to remain the largest end-use segment globally during the forecast period.
- Increase in promotional activities and investments in renewable energy generation are leading to the growing market prospects for food waste management in North America. High demand for renewable energy and development in infrastructure encourages new players operating in recycling and processing food waste market.
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Technological Developments to Enhance Prospects for Food Waste Management Organizations
Increasing participation of small and mid-size enterprises in the global food waste management market provides opportunities for innovation in services offered by waste management companies. Through the development of innovative technologies such as shelf-life extension technology, companies operating in the food waste management market are able to expand their global footprint by leveraging the regulatory implications.
Know More About What the Report Covers
Market Segments Covered in Food Waste Management Industry Analysis
By Waste Type:
- Food Production Wastes
- Agricultural Produce Wastes
- Fruits & Vegetable Waste
- Staple Grain Waste
- Poultry, Fish and Meat Wastes
- Poultry Meat
- Fish & Other Marine Food
- Food Processing Wastes
- Agricultural Produce Processing Waste
- Poultry, Meat and Seafood Processing Wastes
- Dairy Food Processing Waste
- Other Food Processing Wastes
- Distribution and Supply Chain Wastes
- Retail Wastes
- Consumption Wastes
- Household Food Waste
- Food Services, Hospitality & Institutional Waste (FSHI Waste)
- Animal Feed
- Renewable Energy & Biofuels
- Others (Cosmetic, Soap, Bio-plastic, and Other Products)
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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