Food Waste Management Market Expected to Grow at CAGR 6.1% during 2017 to 2023

Market Overview

Food waste management refers to all the activities and actions mandatory to accomplish waste from its initiation to its final clearance. It includes collection, transport, treatment, and disposal of waste along with waste monitoring and regulation. The market is experiencing rapid growth due to increasing waste food processing, which include poultry, meat, and seafood waste, agricultural waste, dairy food waste, and waste from other types of food processing.

Market Forecast

The global food waste management market has been witnessing an immense growth over the last few years owing to increasing government initiatives and awareness programs for waste food management. Additionally, governments of various developing countries are implementing several rules and regulation in to minimize the food wastages. Currently, food service industry is undergoing a huge growth both in developed and developing economies. So, the food wastage is also increasing gradually in the restaurant and other food service industry. Many governments of developed countries in Europe has made it compulsory for food manufacturers to deal with food waste recycling and disposal in an environmental friendly process, which is anticipated to be one of the key factors for the rising growth of food waste management during the forecast period of 2017-2023.

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Competitive Analysis

The Major Key Players in the Food Waste Management Market are

Republic Services, Inc. (U.S.)
Stericycle, Inc. (U.S.)
Covanta Holding Corporation (U.S.)
Waste Connections, Inc. (Canada)
Andritz Ag (Austria)
Waste Management, Inc. (U.S.)
Veolia Environnement S.A. (France)
Global food waste management market is highly concentrated in North America. Europe has massive potential for food waste management owing to increasing awareness regarding food wastage in the Western European countries.
Downstream Analysis

Anaerobic digestion segment is estimated to account for major market proportion in the global food waste management market in the year of 2017. Anaerobic digestion works irrespective of weather. So, it is considered to be one of the lucrative source of energy. Among the waste type, food processing waste is estimated to account for 40% of the global food waste management market in the year of 2017 and it is estimated to retain its dominance throughout the forecast period 2017-2023. Among the end use, animal feed is accounting for major market proportion in 2017. Fertilizers segment is expected to grow at a fast pace as compared to the other segment during the forecast period of 2017-2023.

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Regional Analysis

The global food waste management market is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). Among these, North America region is expected to retain its dominance throughout the forecast period 2017-2023. The growth in North America is attributed to the massive awareness regarding food wastage among the consumers and also the concentration of key players in the U.S. Europe is also estimated to account for more than one fourth of the market proportion in the global food waste management market. Among the European countries, Germany is projected to account for the maximum share during the forecast period 2017-2023. Asia Pacific region is projected to grow at a fast pace during the forecast period of 2017-2023.

Market Segmentation

Global food waste management market is segmented by process, waste type, end use and region

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This release was published on openPR.