Global Smart Food Bin Market 2022-2028: Winnow Solutions Limited, Leanpath Inc., Enevo Inc.

Market Overview:
The Smart Food Bin Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering the base year as 2021.
Food waste bins have been used to dispose of any waste food that has been left over, like plate scrapings, and uneaten food. A Smart Food Bin that is used to reduce food waste. A Smart Food Bin helps to carries out the task of photographing the food that is being thrown away and then it weighs the discarded food. Finally, this data is transferred to the computer. The growing population with a rising amount of wastage food helps to the growth of the demand for smart food bins.

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Market Dynamics:
Driver:
Growing demand for smart food in the number of small as well as big restaurants is the major factor that supports the growth of the market. Individuals and businesses around the world are becoming more aware of the importance of preventing food loss. Additionally, the various government programs provide educate the people about the importance of the prevention of the wastage of food. In recent years, the number of home functions or public functions is rising which can produce more waste. Owing to the government's stringent rules about the wastage of food and environmental pollution help to grow the demand for smart bins which fuels the market.

Opportunities:
The growing number of hotels, restaurants, and pantries in developing regions such as Asia-Pacific and the Middle East & Africa provides a lucrative opportunity for the smart food bin market. The population of this region is growing that will produces a high amount of waste food. Also, the manufacturers are investing in the development of the new smart food bin due to the government's stringent regulation of the wastage of food and increasing food wastage which helps to rising the demand for food bins by people or restaurants which offers the remunerative opportunity for the smart food bin market during the forecast year.

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Market Segmentation
Segmentation Analysis of Smart Food Bin Market:
By Food Type, the raw segment is expected to lead the growth of the smart food bin market over the forecast period. The raw food segment comprises leftover food and fruit, inedible parts of vegetables, and peels of fruits, potatoes, and cooking bananas with large quantities of the latter and vegetable wastes.
• Raw
• Cooked & Processed

By Food Product, the bread segment is anticipated to dominate the smart food bin market in the projected timeframe. According to River Cottage, over 240 million slices of bread are chucked away every year.
• Bread
• Meat & Fish
• Fruits
• Others

By End-Use, the commercial segment is anticipated to lead the development of the smart food bins market during the forecasted timeframe. The commercial segment comprises food outlets, restaurants, canteens, and pantries.
• Commercial
• Residential

Regional Analysis of Smart Food Bin Market:
The North American region is anticipated to have the highest share of the smart food bin market over the forecasted period attributed to the growing consumer awareness about food waste. Every year, the United States discards almost 40 million tonnes of food or 219 pounds of trash per person. According to the non-profit organization Feeding America, Americans waste about $218 billion on food each year, with dairy products being the most wasted.

The European region is anticipated to have the second-highest share of the smart food bin market over the projected period attributed to the presence of prominent market players in this region. Countries like the United Kingdom, France, Germany, and Spain are the major generators of waste food in this region.

The smart food bin market in the Asia-Pacific region is expected to develop at a significant growth rate owing to the developing countries in this region. China, India, Australia, Malaysia, Indonesia, and Pakistan are the major countries accountable for food waste in this region.
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

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Key players in the industry:
• Winnow Solutions Limited
• Leanpath Inc.
• Enevo Inc.
• Wybone Limited
• Kitro SA
• Orbisk
• Lumitics

Recent Industry Developments In Smart Food Bin Market
In January 2020, Lumitics raised seed funding to track the waste food generated by Singapore's F&B outlets and restaurants. Lumitics received US$557,000 in an oversubscribed seed funding round, co-led by the business angel and hospitality industry veteran Franck Courmont and ReadyVentures.

The Smart Food Bin market report reveals the top competitors as well as their effective market strategies that helped them achieve their goals. It also considers the features and attributes that may influence market sales growth. The analysis contains precise market size, share, production capacity, demand, and growth numbers for the industry for the projected year. The market is fast changing, according to the research report, and the impact is being evaluated in terms of both current position and expected ramifications.

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