Food Waste Management Market annual growth rate (CAGR) of 6.6% for the period of 2019-2024

The global market for food waste management reached $31.3 billion in 2019 and should reach $43.1 billion by 2024, at a compound annual growth rate (CAGR) of 6.6% for the period of 2019-2024.

Report Scope:

The scope of this report is broad and covers global markets of food waste management processes used globally in various industries. The market is broken down by process type, waste type, methods, application, industry, and by region. Revenue forecasts from 2019 to 2024 are presented for each process type, waste type, method, application, industry and regional market.

The report also includes a discussion on the major players in each of the regional markets for food waste management. It explains the major market drivers of the global market of food waste management, the current trends within the industry and the regional dynamics of the food waste management market. The report concludes with a particular focus on the vendor landscape. It includes detailed profiles of the major vendors in the food waste management industry globally.

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Report Includes:

– 68 data tables and 11 additional tables
– Detailed overview and industry analysis of the global food waste management market
– Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Characterization and quantification of the market potential for food waste management by type of process, waste types, methods, applications, end-user industries, and geographic regions
– Discussion of the importance of scientific research, product innovation, consumer awareness and preferences and government regulatory requirements
– Information on recent developments, alliances, joint ventures, and mergers and acquisitions in global food waste management market
– Patent review and new developments within the field
– Company profiles of leading market participants within the industry, including Clean Harbors Inc., Enerkem Inc., Sensient Technologies Corp., Suez SA, Symrise AG, Takasago International Corp., Veolia Environnement SA, and Waste Management Inc.

Summary:

The share of global food that is thrown away has risen significantly over the years. Reduction and effective management of food waste have become a pivotal challenge for industries and communities alike. According to a study conducted by the FAO (Food and Agriculture Organization of the United Nations), global food waste is estimated to be around 1.3 billion tons per year, equivalent to about a third of the overall food production intended for the human consumption. The rising food losses and waste are expected to have detrimental environmental and economic impacts on society.

Due to the increasing world population, food wastage is becoming a serious issue around the world. The expanding growth in the amount of food waste will have serious adverse effects on society, such as health risks, environmental pollution and scarcity of landfills. There is a consistently growing need to create appropriate, environmentally sustainable solutions to manage the increasing amount of food waste. Among the solutions, the anaerobic digestion process is one of the most promising and environmentally friendly solutions which can help in food waste management, nutrient recovery and energy production, which can also help with the ever-increasing global energy demands.

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Reasons for Doing This Study

The global food waste management market is expected to reach nearly $REDACTED by 2024 from $REDACTED in 2019, growing at a CAGR of REDACTED between 2019 and 2024. The anaerobic digestion process isexpected to account for the highest share of the global food waste management process market overthe forecast period. It is mainly because anaerobic digestion is the process that will have the leastamount of adverse effects on the environment compared to the other food waste management processes. This process also helps to recover energy from food waste and produces valuable byproducts such as compost.

A comprehensive study on the process types of food waste management is critical in understanding the crucial role played by food waste management in different industries.

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