North America and Asia-Pacific Food Waste Prevention Market Projected Expansion to $21.6 + Billion Market Value by 2032 with a 7.2% CAGR

According to a new report published by Allied Market Research, titled, "North America and Asia-Pacific food waste prevention market" The North America and Asia-Pacific food waste prevention market size was valued at $11.0 billion in 2022, and is projected to reach $21.6 billion by 2032, growing at a CAGR of 7.2% from 2023 to 2032.

Rise in awareness of food waste as a large and urgent problem, especially in developing countries, is driving the demand for innovative solutions. In addition, large commercial food companies expanding into emerging markets offer advanced technology, infrastructure, and management practices to reduce losses, which is fostering the market growth of North America and Asia-Pacific food waste prevention market.

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Food waste prevention refers to the implementation of strategies and measures aimed at reducing or eliminating the wastage of food throughout the entire food supply chain, from production to consumption. This involves practices such as optimizing production processes, improving inventory management, educating consumers on proper storage and utilization of food, and diverting surplus food to those in need through donations or repurposing. By minimizing food waste, this approach helps conserve resources, reduce environmental impact, alleviate hunger, and improve sustainability in the food system.

The growing recognition of food waste as a significant and pressing issue, particularly in developing nations, is fueling the need for inventive solutions in the North America and Asia-Pacific food waste prevention market. The challenge of food waste and loss is pronounced, with a substantial impact on smallholder farmers and the downstream value chain in developing countries, leading to a minimum income reduction of 15% for 470 million people and contributing to food insecurity for 1.2 billion individuals. In these developing regions, 90% of wastage occurs within the value chain, disproportionately affecting both impoverished producers and consumers. Also, crop foods and dairy products account for 92% of these losses, emphasizing the critical need for targeted interventions in these specific sectors.

The root causes of the food waste problem, including insufficient postharvest storage facilities, inadequate training, and limited market access, necessitate innovative solutions. The evolving landscape in addressing food loss includes market-driven models that offer cost-effective storage and processing technologies, providing accessible solutions. Moreover, the expansion of major commercial food enterprises into emerging markets brings advanced technology, improved infrastructure, and efficient management practices, contributing to the reduction of losses.

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Market-driven models and the involvement of well-known businesses indicate a growing market for affordable, widely available storage, preservation, and processing technologies. As the need to address food waste problems becomes more urgent, these innovations play a crucial role in expanding the North America and Asia-Pacific food waste prevention market.

However, governments have imposed stringent regulations regarding storage conditions and environmental standards for food waste prevention. These stringent measures are imperative to prevent foodborne diseases and necessitate strict adherence to storage guidelines. In addition, continuous quality assessments are conducted by food inspectors, ensuring compliance with established rules and regulations. Notably, significant markets such as China impose substantial excise duties on imported frozen meat and seafood products. Thus, the strict regulatory law governing storage facilities is projected to pose challenges to the expansion of the North America and Asia-Pacific food waste prevention market. These regulations, while crucial for public health and safety, may impact the growth trajectory of the industry by introducing complexities and compliance hurdles for businesses involved in the storage and distribution of food products.

In addition, the rise in disposable income in developing markets has led to a growth of chilled and frozen food products in North America and Asia-Pacific regions. The proliferation of fast-food outlets and café shops, offering a diverse range of food items such as pizza, cakes, bakery goods, and poultry products, is a notable trend. Major players in the fast-food and hotel chains sector are making substantial investments in expanding their presence, particularly in the Asia-Pacific and other developing markets. McDonald's, for example, witnessed an increase in its global locations, reaching 40,275 in 2022 as compared to 40,031 in 2021, marking consistent growth for the past 17 years. In 2021, China dominated the Asia-Pacific and Middle East regions with approximately 4,400 McDonald's locations, followed by Japan with around 2,900 and Australia with 1,023.

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The surge in the development of the food service industry in these developing regions creates a favorable environment for the North America and Asia-Pacific food waste prevention market. As the demand for diverse food offerings continues to rise, there is a simultaneous need to address and mitigate the potential increase in food waste, presenting opportunities for effective waste prevention strategies and solutions in these expanding markets.

The North America and Asia-Pacific food waste prevention market is segmented on the basis of food type, technology, end user, and region. On the basis of food type, the market is categorized into fruits and vegetables, chilled protein, and ready meals. On the basis of technology, the market is classified into plant-derived coating, produce stickers, modified atmospheric packaging, vacuum packaging, active packaging, and others. On the basis of end user, the market is divided into food service, retail, food manufacturer, and others. Region-wise, the market is bifurcated into North America and Asia-Pacific.

The North America and Asia-Pacific Food Waste Prevention Market Size Key Players are Apeel Sciences, DECCO Global, PolyNatural, Sealed Air, Point Five Packaging, Linde PLC, Air Products and Chemicals, Inc., Pace International, Ryp Labs, Mori.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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