Food Waste Management Market

The growing food service sector is driving the market growth

The rising food service sector drives market CAGR for food waste management. The rapidly increasing food service business is predicted to fuel the business. Food waste is quite typical in fast-food cafes and other hotel chains. In addition, food waste has surged in the dietary supply chain during the last decade, leading to the construction of several systems for food waste recycling that comprises both anaerobic and aerobic digestion processes. Waste from food is prevalent in developing and developing countries. To tackle this issue, authorities in various countries are establishing severe food waste reduction rules and regulations. 

Dietary waste disposal firms primarily focus on raising consumer awareness about waste from food and handling it in the Asian-Pacific region's expanding economies. The widespread use of cutting-edge technology, which is changing goods into sophisticated products, is one of the important developments in the worldwide market. Major corporations are developing innovative and inventive food waste management strategies to distinguish their goods and remain relevant.

Additionally, the offline distribution method category will be responsible for the most revenue growth due to increasing sales of Food Waste Management through offline retailers. Hotels and dining establishments need help discarding the massive volumes of food waste they produce regularly. Food Waste Administration is a particularly suitable and effective approach for commercial enterprises with substantial recurrent food waste deposits. Hotels and dining establishments pay a lot of funds to throw away food waste in regular trash cans. This is because the waste gathered must be interred for slow breakdown, which is costly depending on the amount.

The market is expected to shrink in 2020 due to the COVID-19 outbreak. It caused havoc in the waste management business. While the virus spread and numerous countries implemented lockdowns, government agencies and municipality garbage collectors were forced to swiftly adapt their management procedures and structures to the changing conditions. Inadequate waste management increases the risk of disease transfer, either through direct contact with untouched or dumped rubbish or indirectly through contamination of water and crops.

Although the expected danger of COVID-19 transmission is the primary cause of the decline, other critical elements like supply chain interruptions and a decline in manufacturing and commercial activities are also essential.

For instance, as per FAO, whereas over 1.4 billion tons of food are wasted worldwide yearly, the United States eliminates 40-80 bn pounds yearly. According to the United States Department of Agriculture equipment, the quantity of food discarded in the United States is comparable to 219 pounds of waste/per person, which will benefit the food waste management business. Thus, demand for Food Waste Management is anticipated to increase throughout the projected timeframe due to the rising food service sector. Thus, driving the Organics Recycling & Composting market revenue.

The increasing awareness surrounding food waste is a pivotal driver for the Global Food Waste Management Market Industry. As consumers and businesses alike become more cognizant of the environmental and economic impacts of food waste, initiatives aimed at reducing waste are gaining traction. For instance, educational campaigns and community programs are being implemented globally to promote food waste reduction strategies. This heightened awareness is expected to contribute significantly to the market, which is projected to reach 42.8 USD Billion in 2024, reflecting a growing commitment to sustainable practices.

Government regulations and policies play a crucial role in shaping the Global Food Waste Management Market Industry. Many countries are enacting legislation aimed at reducing food waste, such as mandates for food donation and composting. For example, the European Union has set ambitious targets to cut food waste in half by 2030. Such regulatory frameworks not only encourage businesses to adopt better waste management practices but also create a favorable environment for innovative solutions. This regulatory push is likely to drive market growth as stakeholders align with compliance requirements and sustainability goals.

Corporate sustainability initiatives are emerging as a significant driver within the Global Food Waste Management Market Industry. Many companies are recognizing the importance of sustainable practices not only for environmental reasons but also for enhancing brand reputation and customer loyalty. Businesses are increasingly implementing strategies to minimize food waste, such as optimizing supply chains and improving inventory management. This trend is likely to accelerate market growth, as companies invest in sustainable solutions to meet consumer expectations and regulatory requirements, contributing to a projected CAGR of 5.06% from 2025 to 2035.

Consumer demand for sustainable practices is shaping the Global Food Waste Management Market Industry in profound ways. As consumers become more environmentally conscious, they are actively seeking products and services that align with their values. This shift in consumer behavior is prompting businesses to adopt sustainable practices, including reducing food waste. Companies that prioritize sustainability are likely to gain a competitive edge in the market. This growing consumer preference is expected to bolster the market, as stakeholders respond to the increasing demand for responsible food management solutions.

Technological advancements are transforming the Global Food Waste Management Market Industry by introducing innovative solutions for waste reduction and management. Technologies such as smart waste bins, food waste tracking apps, and advanced composting systems are becoming increasingly prevalent. These innovations enhance efficiency and provide valuable data for businesses and consumers to make informed decisions about food usage. As these technologies continue to evolve, they are expected to drive market growth, with projections indicating a market size of 73.6 USD Billion by 2035, highlighting the potential for significant advancements in waste management.

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Food Waste Management market will dominate during the projected timeframe, owing to expanding waste management assistance and activities, including residential properties, institutional, business premises, and manufacturing waste storage to minimize waste, boosting the market growth in the North American area.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Food Waste Management Market Share by Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe region’s Food Waste Management market accounts for the second-highest market share due to the pace of expansion, which has strengthened due to favorable economic circumstances and improved awareness. Further, the German Food Waste Management market holds the biggest market share, and the UK Food Waste Management market is expected to grow and expand significantly in the European region during the projected timeframe.

The Asia-Pacific Food Waste Management Market is expected to grow quickly during the projected timeframe. The Asia Pacific area has the greatest growth in the management of the food waste industry due to inappropriate food management, excessive production, and food waste neglect all at once. Moreover, China’s Food Waste Management market dominates the market share, and the Indian Food Waste Management market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Food Waste Disposal market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Processes portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. 

Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Food Waste Management industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Food Waste Management industry to benefit customers and capture untapped market share and revenue. The Food Waste Management industry has recently offered significant advantages to the Industrial Automation & Equipment industry. 

Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Food Waste Management market, including Andritz Ag (Austria), Waste Management, Inc. (U.S.), Veolia Environnement S.A. (France), Republic Services, Inc. (U.S.), Stericycle, Inc. (U.S.), Covanta Holding Corporation (U.S.), and Waste Connections, Inc. (Canada) are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Veolia manages the distribution and supply of water systems and services related to waste management. The firm was established on December 23, 1999, and is based in Paris, France. Veolia announced the initial recycling and trash firm to sign on as a facilitating partnership for the UK Food Trash Reduction Pathway program, which aims to assist businesses in reducing waste from food production by 50% by 2030.

3M is a technology business producing industrial, safe, and consumer goods. The firm was formed in 1902 and is based in St. Paul, Minnesota. Clean Harbors joined up with a prominent manufacturing business, 3M, in August 2021, for a new joint endeavor to provide best-in-class rank to the latter's activities in waste treatment and management elements.