Increase in rate of population worldwide has created a pressure over agricultural practices. Also, changes in pattern of agro production and depletion in agricultural area have also raised concerns for supply of food in adequate amount. Therefore, several efforts have been done to reduce wastage of food and accordingly numerous techniques have been adopted. There is also an increase in demand for organic waste for multiple uses. Considering all the associated dimensions, it is clear that the market of food waste management holds lot of potential and thus is expected to grow in the coming years.
Companies covered:
Veolia Environment, Stericycle Inc., Waste Management Inc., Suez Environment, Republic Services Inc., Clean Harbors Inc.
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COVID-19 Scenario Analysis:
COVID-19 led to the lockdown in most of the countries which hampered the day to day activities. This also affected the growth of the food waste management market.
The requirement for organic waste and biofuels has also reduced due to COVID-19 situation. This also affected the trade of these products which in turn hampered the growth of the food waste management firms in various countries around the world.
The sale of the food additives is expected to grow after worldwide release of the lockdown situation due to COVID-19
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in usage of organic waste for the production of fertilizers and animal feed as well as rise in the energy requirements are the major factors that drive the demand for food waste management systems. In addition, increase in processed food consumption including the ready-to-go meals is also expected to boost the market growth.
Surge in the population worldwide, environmental awareness and rapid urbanization & industrialization has further helped in boosting the demand for food waste management.
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Opportunities for market growth
Anaerobic digestion is one of the new technological trends which is anticipated to boost the growth of the food waste management market. It helps in recovering nutrients and energy from the waste. The collection and segregation of waste is a major challenge.
Demand for Biofuels
Substantial growth in the domain of biofuel coupled with the fluctuations within the prices of crude oil is expected to boost the growth of the food waste management market during the forecast period. Methane, ethanol, biodiesel, and hydrogen are some of the biofuels produced out of food waste.
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Key Benefits of the Report:
This study presents the analytical depiction of the global food waste management industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global food waste management market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global food waste management market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global food waste management market analysis based on competitive intensity and how the competition will take shape in the coming years.
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