Food Waste Management Market to witness remarkable growth in near future owing to surge in amount of unwanted dump resulting from processing losses, production efficiency, production inefficiency and consumption issues.
— Rising energy requirements will augment the growth of food waste management market. Discarded substances from industry that is not recycled will be disposed of at the waste-to-energy facilities for the energy recovery. Industry recycle around 97 percent of feed litter generated, out of which a major share is recycled to produce animal feed or organic fertilizer. Increasing focus on reducing processing losses, higher rates of donation and substantial investment will drive the growth of food waste management market.
The market is segmented on the basis of type, recycling process, and end-use application. The feed disposal is segmented into liquid and solid. Key difference between both segments not only on basis of physical state but also covers source of such and treatment process employed. Liquid disposals are generated at the time of processing whereas solid disposals are predominantly generated at retail and consumer end.
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Rising demand in end-use application including animal feed, renewable energy and others industrial application will add to the growth of food waste management market. Surge in demand is further supplemented by growing application of disposals in fertilizers manufacturing. Industry focus on renewable source of energy mainly biogas, gaining popularity owing to greenhouse gases and economical processing costs. Growing concern on environmental impact and feeding rising population with significantly reducing the loss and litter within developed and developing countries will add to the growth of food waste management market.
North America, owing to rising consumer awareness and governmental regulation mainly in the U.S. and Canada will dominate the food waste management market. These countries are pioneers in certain technical processes and hub of large number of feed manufacturing companies. More than 40% of production in the U.S. goes in dump, costing the economy around $215 billion. Almost 50 million Americans, comprising 16 million children, are feed insecure; dropping feed disposals by just 15% could feed more than 25 million individuals per annum. Decomposition of fodder litter through landfills emits around 23% of the U.S. methane releases, a greenhouse gas. In coming years, the region will invest heavily in disposal processing methods which will further propel food waste management market.
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In Europe, nearly 90 million tons of feed litter is produced per annum, which is anticipated to surge by 35% if no actions are taken. By 2025, the European commission aims to reduce the amount of feed dump by 50% which will significantly drive the food waste management market. Companies are also evolving innovative recycling technologies to deal with feed dump. For every 3 tons consumed in the UK, another ton goes to dumping. UK presently produce more than USD18 billion of feed dump per year.
Asia Pacific will witness significant growth in food waste management market owing to growing amount of feed dump in countries mainly India and Malaysia. Government is restricted to conventional landfill and incineration methods for unwanted feed disposal. Environmental issues in the region will further propel food waste management market growth.
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Food waste management market is very much fragmented across the globe due to the high rationality of the industry. Some of the key players are Republic Services, REMONDIS SE, Indaver, Veolia Environment, Suez Environment, Shapiro Enterprises and SARIA, Manufacturing companies now investing heavily on feed disposal, reduction, donations, and sent to animal feed. In November 2015, NEA proposed an outline to encourage of smart storage and processing practices that will help industry to save money by reducing wastage at source.
In limelight of political and industry trends, companies are anticipated to benefit from a broad approach to litter prevention and strategic diversion that can deliver competitive advantage, save resources, reduce greenhouse gas emissions and alleviate hunger. Collaborative leadership from industry and government and a readiness to invest in pioneering resolutions will add to the food waste management market growth.
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 523633