Impact of Covid-19 on Food Waste Management Market- Global Industry Trends, Applications and Forecast Analysis to 2027
Global Food Waste Management Market: Overview
Growing
population across the globe has increased the pressure on the agriculture and
government to provide adequate food for all. Moreover, depleting agricultural
area and changing patterns of agricultural production are also raising concerns
for adequate food supply. Therefore, in the response to these issues, specific
efforts are being made on reducing food waste and various food waste management
techniques are being used. Governments, private organizations, NGOs, and
individuals are coming up with new and different ways of reducing food waste.
High demand for organic waste, due to its growing use in producing animal feed
and fertilizers along with its reducing effect on greenhouse are few other
factors estimated to drive demand for the food waste management systems.
According
to the Transparency Market Research report on the global
food waste management market, this market is expected to witness
significant growth over the period of eight years from 2019 to 2027. This
report elucidates on the key factors related to the market and its growth.
Recent developments, revenue, new developments and initiatives, companies and
government contributions, and ongoing trends related to the market are all
discussed thoroughly.
Global Food Waste Management Market:
Notable Developments
Responsibility
of providing food to each and every individuals lies in mainly in the hands of
the government and various agricultural manufacturing companies. Both of them
are making significant efforts to reduce food wastage and to make optimal use
of food residue. In terms of government regulations, developed regions are
imposing strict regulations as majority of food waste is generated from
developed countries. Food waste is generated mostly from supply chain
including, transportation, processors, logistics, distributors and retailers in
these regions.
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With Respect to Regulations
The
National solid waste policy in Brazil is concentrating on minimizing total
wastage volume generated at national level and increasing the sustainability of
solid waste management. The policy includes the sectors such as healthcare,
construction, transportation, forestry, industrial, and mining.
In
European region, the waste management legislation made it compulsory for retail
sectors, service providers, and food manufacturers to develop food waste
disposal and recycling without affecting the environment.
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Innovative Steps Taken by Companies
In 2015,
NEA suggested an outline to encourage use of processing practices and smart
storage that will help in reducing food wastages and save money by reducing
wastage at source.
Other top
players in the food waste management market are also coming up innovative ways
such as smart packaging that will help in reducing food packaging, enabling
recycling of reduce, and similar other techniques. Some of the key players in
the global food waste management market are Suez Environment, Veolia
Environment, Republic Services, Inc., Waste Management, Inc., Stericycle, Inc.,
and Clean Harbors, Inc.
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Global Food Waste Management Market:
Drivers and Restraints
Major
factors influencing growth in the global food waste management market include:
·
Rapid growth in the food industry is the major reason behind the
growth of food waste management market. rising trend of dining out, increasing
number of restaurants, hotels, quick service restaurant, and other food
outlet require better and advance food waste management techniques. Moreover,
increasing food wastage mainly in food supply chain since the last decade, due
to this several systems are installed including aerobic and anaerobic digestion
processes for recycling food waste.
·
Increasing population, high environmental awareness, and rapid
industrialization has further boosted the demand for food waste management
solutions. moreover, increasing consciousness among people to reduce food
wastage is another major factor driving demand in the global food waste
management market.
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Global Food Waste Management Market: Regional Outlook
Geographically,
Europe and North America are the leading market for food waste management
solution. Increasing government initiatives to reduce food wastage is one of
the major factor behind their growth. Moreover, high investments in advanced
disposable techniques for generating useful products such as fertilizers and
biogas have also strengthen their position in the global market. On the other
hand, Asia Pacific is also expected to contribute substantially in the food
waste management market in the coming years, due to increasing wastage during
transit.
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