Food Recycler to Show Exponential Growth by 2031 | Worldwide Value $48.8 Billion | Key Players - CP Group, Hungry Giant Recycling

A food recycler is a machine that is used in both commercial and household to recycle waste food into fertilizer or manure. Food wastage has emerged as a big challenge in all the countries around the globe. This has created a huge opportunity for food recyclers which can help overcome this situation. Recycling organic waste has emerged as a challenge in several economies which drives the demand for the food recycler industry in those economies.

The food recycler market was valued at $26.3 billion in 2021, and is estimated to reach $48.8 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

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The rapid increase of urbanization and government initiatives like smart city, go green, etc. will propel the growth of the food recycler market size. According to United Nations Conference on Trade and Development in 2010, 51.6% lived in urban areas. By 2020, the share of the urban population increased to 56.2%. It is generally higher in the developed (79.2% in 2020) than in the developing world (51.6%). According to an article by the World Resource Institute, food waste already comprises 50 to 70 percent of municipal solid waste in several Chinese cities, including Beijing and Shanghai. Along with this with a rise in urbanization, the number of people who are opting for proper waste management and are concerned regarding the environment will rise owing to this the food recycler market size will increase at a significant rate.

The COVID-19 pandemic had a negative effect on the food recycler industry owing to labor shortages, broken supply chains, and lack of raw materials as a result of regulations requiring a statewide lockdown, and social segregation restrictions. Furthermore, the market growth will be positively impacted by the progressive removal of these obstacles and the restart of production activities in the present. Since the hospitality industry was completely shut down as a result of government guidelines for lockdown, the food recycler market demand has experienced a sharp decline.

According to the report of the National Library of Medicine, food supply chains are highly integrated and strongly dependent on global conditions. Therefore, economic, and political threats and natural disasters may disrupt their integrity. The COVID-19 pandemic has put into evidence the lack of resilience of food supply chains, leading to economic and social crises with global consequences resulting in negative food recycler market trends.

With the removal of restrictions and everything getting normal, the food recycler market is recovering at a significant rate. The market is recovering since after the removal of restrictions commercial sector is coming back to normal with the opening of HoReCa and other commercial organizations like schools, colleges, and others which boosts the demand for the market along with this after the pandemic opening of new restaurants, hotels and others are back at the normal track. All such factors are expected to help the market to bounce back after the pandemic.

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Technological advancements coupled with rising initiatives regarding food wastage management will create the food recycler market opportunity to grow since food wastage is reaching alarming heights and has become a global issue. According to the United Nations Environment Programme in the U.S. alone, an estimated 133 billion pounds of edible food (worth over $161 billion) goes to waste every year. Food waste also contributes to the largest volume of material in U.S. landfills accounting for 21% of the waste stream. Food waste costs Canadians $31 billion annually or about 2% of the country's GDP. According to the U.S. Department of Agriculture in the United States, food waste is estimated at between 30-40 percent of the food supply. It has emerged as a challenge for the government to overcome all such wastage, for example in 2015, the USDA joined with the U.S. Environmental Protection Agency to set a goal to cut our nation's food waste by 50 percent by the year 2030. Such a huge amount of food wastage coupled with the initiative by the governments is expected to present an opportunity for food recycler market growth.

The global food recycler market analysis is segmented based on capacity, end users, distribution channel, and region. Based on capacity, the market is categorized into 0-50 Kg/day, 50-100 Kg/day, 101-300 Kg/day, 301-500 Kg/day, 501-1000 Kg/day, and above 1000 Kg/day. On the basis of end users, the market is segmented into commercial and household. The commercial segment is further bifurcated into hotels, restaurants, food processing centers, composting sites, and schools/ universities. Based on the distribution channel the market is segmented into OEM, distributors, retailers, and e-commerce.

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Key findings of the study

>By capacity, the 0-50 kg/day segment accounted for the highest market share in 2021, growing at a CAGR of 6.7% from 2022 to 2031.
>By end-user, the commercial segment accounted for the highest food recycler market share in 2021, growing at a CAGR of 6.3% from 2022 to 2031.
>By commercial, the restaurant sub-segment accounted for the highest market share in 2021, growing at a CAGR of 7.0% from 2022 to 2031.
>By distribution channel, the OEM segment accounted for the highest food recycler market share in 2021, growing at a CAGR of 5.8 % from 2022 to 2031.
>By region, North America occupied the maximum share of the market in 2021 and is expected to be the dominating segment during the food recycler market forecast period.

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