Princeton, NJ -- (SBWire) -- 06/12/2018 --The global food waste management market is estimated at USD 31.71 Billion in 2017, and is projected to reach USD 42.37 Billion by 2022 at the CAGR of 5.97% during the forecast period. The primary factors that drive the food waste management market are increase in the usage of organic waste for the production of animal feed and fertilizers, need for reducing greenhouse gas emission, and rise in global food waste.
The increase in the number of waste management regulations across the globe has led to an increased interest in the usage of waste management services by the manufacturers and distributors. The use of waste management services in the food & beverage industry has led to the methods of recycling, prevention, and recovery, thereby reducing the waste. The major restraining factor for the market has been the landfill and incineration techniques causing adverse effects on the environment.
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The food waste management market is segmented by waste type, process, application, end user, and region. On the basis of waste type, the municipalities & households segment dominated the global market, followed by the food service providers segment in 2016. The waste generated from the day-to-day usage of items such as product packaging, clothing, food scraps, newspapers, paints, batteries, homes, schools, and societies comes to be known as municipality & household waste. Communities in the US offer a variety of options for conveniently and safely managing household waste. Waste management companies focus on recycling a large amount of waste generated from the residential sector; new technologies are used to reduce and recycle this waste.
The food waste management market, by process, is segmented into aerobic digestion, anaerobic digestion, and incineration/combustion. The anaerobic digestion segment accounted for the largest market share in 2016. The energy produced through anaerobic digestion is neither dependent on weather nor subject to price fluctuations. Thus, it is considered a lucrative source of energy and effective alternative to fossil fuel.
The food waste management market, by application, is segmented as animal feed, fertilizers, biofuel, and power generation. The animal feed segment accounted for the largest market share in 2016. Food waste mainly consists of organic waste that can be completely decontaminated by thermal treatment, preferably complete sterilization, and that which can safely be used as feedstuff. There are various methods for yielding animal feed from waste; for instance, processing of organic waste from larvae to yield feed.
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The North American region is projected to hold the largest market share, followed by the European region, in 2022. The North American region is projected to be the fastest-growing food waste management market in the forecast period. This is mainly due to The Solid Waste Association of North America (SWANA), which supports and offers different types of services and practices such as storage of residential waste, integrated solid waste management, institutional, commercial, and industrial solid waste in order to reduce waste in the region.
Landfill and incineration techniques causing adverse effects on the environment is one of the major restraining factors for the market. Landfilling and incineration processes have been traditionally used for waste disposal. Incinerators are prioritized over landfilling as they are more convenient, require small land, and eliminate the problem of methane gas release from landfill. The calorific value of waste, which is the amount of heat released from waste combustion, is directly related to the moisture content of waste, and is considered a key performance indicator of the incineration process. Landfills and incineration both contribute to the emission of GHG, which is one of the main causes of global warming. Overflown landfills may also spread epidemic diseases in their surrounding areas.
Veolia Environnement (France) is likely to emerge as a leading market player in the food waste management market in the coming years, owing to its line of various waste management services, which is highly useful in the food industry.
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Food Waste Management Market Analysis and Forecast to 2022
Global Food Waste Management Market Analysis and Forecast to 2022 | Growth Opportunity Assessment