Growing Food Waste Fuels Global Food Waste Management Market

Triton Market Research presents the Global Food Waste Management Market report segmented by Source (Municipalities and Households, Food Distributors and Suppliers, Food Service Providers, Primary Food Producers, Food Manufacturers), Service (Collection, Disposal, Recycling [Power Generation, Animal Feed, Biofuels, Fertilizers), Waste Type (Dairy & Dairy Products, Cereals, Fruits & Vegetables, Meat, Poultry & Seafood, Processed Food, Other Waste Types), and Regional  Outlook (Asia-Pacific, Europe, Latin America, Middle East and Africa, North America).

The report further discusses the Market Summary, Industry Outlook, Parent Market Analysis, Impact Analysis, Porter’s Five Forces Analysis, Market Maturity Analysis, Industry Components, Food Recovery Hierarchy, Key Buying Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

Based on estimates by Triton Market Research, the global food waste management market is set to witness revenue growth at a CAGR of 5.66% during the forecast period 2023-2030.

Factors such as rising population and technological advancements for effective waste management are set to create opportunities for the food waste management market. Companies are increasingly focusing on adopting cutting-edge technologies to enhance the waste management process. In this regard, big data has emerged as a crucial technology in increasing operational efficiency. This elevates the adoption of waste management systems in the food sector.

However, inefficient food waste collection and the harmful impact of waste processing methods on the environment are expected to negatively impact the food waste management market.

Globally, Asia-Pacific is anticipated to emerge as the fastest-growing region over the projected phase. Around 30% of the grains are lost or discarded in the region. This is mainly on account of diseases and insect infections, poor production planning, etc. Other than this, lack of proper infrastructure, including power, water, and roads, are key causes of food loss. The growing food waste results in a high need for waste management systems. Hence, these factors widen the scope and growth of the food waste management market.

The eminent companies in the food waste management market are Casella Waste Systems Inc, Cleanaway Waste Management Limited, FCC Environmental Services, Clean Harbors Inc, GFL Environmental Inc, Suez SA, Waste Management Inc, Veolia, Republic Services Inc, and Waste Connections Inc.

The threat of new entrants is minimal owing to the significant initial investment in the market. Additionally, the industry is highly regulated, which restricts new players’ entry. Over the years, the competition level has also elevated among existing players, owing to a rise in innovation and pricing to gain a competitive edge. Therefore, the threat of new players and competition levels are expected to remain low and high, respectively, over the forecast period.