Global Food Waste Management Market

Global Food Waste Management Market Size, Share, Growth Analysis, By Waste Type(Cereals, Dairy Products), By Process(Aerobic Digestion (Composting), Anaerobic Digestion), By Application(Feed, Fertilizers), By End-User(Residential, Industrial) - Industry Forecast 2024-2031

Report ID: SQMIG20L2016 | Region: Global | Published Date: February, 2024
Pages: 221 | Tables: 126 | Figures: 77

Global Food Waste Management Market News

  • In January 2023, Courtenay initiates weekly food waste collection. Residents in Courtenay who are part of the city's residential curbside collection programme can now take part in weekly food waste collection, which is a new service for the city, as part of the recently launched organics programme. The completion of the new Comox Strathcona Waste Management (CSWM) Regional Compost Facility has contributed to this new waste diversion opportunity.
  • In December 2022, Myplan8 released an app to educate people about their carbon footprint. According to the company, the application will assist in tracking the carbon footprint caused by daily lifestyle, regular travel, and food consumption habits.
  • In August 2021, Clean Harbors partnered with 3M, a leading manufacturing firm, in a novel collaborative effort to provide best-in-class status to the latter's operations in waste handling and management.
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Food Waste Management Market size was valued at USD 66.22 billion in 2019 and is poised to grow from USD 69.8 billion in 2023 to USD 106.31 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The food waste management market is extremely competitive. The key competitive factors in the industry are the availability of experienced technical professionals, specialist equipment, the quality of service, diversification of services, and prices. Furthermore, factors such as policy decisions, technology, high EPA fees, high capital financing, and the high cost of likening limit new market entrants. For example, the United States' Department of Agriculture (USDA) and Environmental Protection Agency have set a goal of reducing food waste by 50% by 2030. (EPA). 'Covanta Holding', 'Veolia Environnement S.A.', 'Waste Management Inc.', 'SUEZ Environment S.A.', 'Republic Services Inc.', 'Clean Harbors Inc.', 'Stericycle Inc.', 'Advanced Disposal Services Inc.', 'REMONDIS SE & Co. KG', 'Waste Connections Inc.', 'FCC Environment (UK) Limited', 'EcoFood Recycling', 'Rubicon Global Holdings LLC', 'Waste Industries', 'Wastequip LLC', 'BioHiTech Global Inc.', 'WasteZero Inc.', 'Renewi plc', 'Redoma Recycling AB', 'Impact Bioenergy'

Governments and food management institutions have responded by implementing stringent regulations, hastening industry growth. Governments around the world are launching initiatives to reduce food waste, such as Love Food, Hate Waste in the United Kingdom and the Stop Wasting Food mobilization in Denmark. Furthermore, the Think Eat Save global collaboration between Messe Düsseldorf, FAO, and the United Nations Environmental Program (UNEP) aims to raise food waste management awareness in support of the UN Secretary-Hunger General's Challenge.

The Idaho Department of Environmental Quality (DEQ) is looking for innovative waste reduction or prevention proposals. The grant money is provided by the US Environmental Protection Agency's Sustainable Materials Management Program, which promotes the use and reusing of materials more productively throughout their entire lifecycle. Projects may include efforts to reduce food waste through diversion or composting, packaging waste reduction through the development or enhancement of recycling or re-use programmes, and increasing the recycling and reuse rate of construction and demolition waste.

North America dominated the market, accounting for 35.9% of total revenue in 2022. Damage to food products, overproduction, a lack of cold-chain infrastructure, strict food-grading specifications, standardized date labelling practices, and varying customer demand are all factors that contribute to food waste management in North America.

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