Increasing usage of sustainable practices and continuing efforts to reduce food waste is estimated to reduce the harmful environmental impacts of food waste such as odor pollution and proliferation of vermin. Composting, conversion of waste food into animal feed, manufacturing new products, source reduction and food donation are the primary solutions that are in use to improve food waste management process. Rise in demand for feeding people with basic food, protecting environment are increasing the significance of sustainable food management. Food waste management empowers conserving resources and supports saving money of consumers. As a result, a market intelligence report by IndustryARC estimates that the global Food Waste Management Market, which was valued at $29 billion in 2019, is set to grow at a CAGR of 5.3% over the forecast period 2019-2025.
Food Waste Management Market: Leading Segments
Increasing importance of food security all over the word along with the government initiatives, which are addressing the same are creating positive economic, environmental and social benefits. Additionally, increase in the necessity for food security on a global basis is aligned with governmental initiatives and representing a positive impact on the economy, environment and society as well. The EU Platform on Food Losses and Food Waste (FLW) is an initiative of the European Commission. This initiative has targeted to prevent the food losses and waste in this region. The platform is working in collaboration with EU countries and stakeholders to enable an effective food waste management in this region. Europe region held onto nearly 40% share in the global food waste management market, as of 2018. The EU has announced new targets such as recycling 65% of municipal waste by 2035, and separation of bio waste collections by end of 2023. In Europe, food waste has been recycling using bio gas technologies in order to convert it as a valuable resource. Implementation of this method is providing huge number of economic, environmental and human health benefits in this region.
Anaerobic digestion management process has been identified as the fastest growing application in the food waste management market. It is projected to grow at a CAGR of 5.6% throughout the forecast period. This process is widely utilized in waste management treatment to break down the organic materials including food waste, manure, scraps, and sewage sludge. “Anaerobic digesters can provide food waste a next worthwhile life as renewable energy, soil additives, and fertilizers,” as per the U.S. Environmental Protection Agency (EPA). This emerging food waste management process is incorporated within the EPA’s food recovery program, which aims to reduce the real food wasted by businesses and communities.
Prevalent Food Waste Management Solutions Followed by Food Manufacturers:
Food waste recycling by composting: Increased focus of food producers to solve food waste problems has resulted in the implementation of an effective composting strategy.
Conversion of waste food into animal feed and in to new produce products: Food waste recycling is possible in the bellies of cattle, sheep, pigs, and other livestock, because it act as a food for the same. On the other hand, waste food is highly used in the manufacturing of new products starting from the bio-fuels to liquid fertilizers.
Source Reduction: This solution is viable in case of food wastage due to the overproduction. Thus, the less production supports food waste minimization.
Food Donation: Excess foodstuffs assist in decreasing the hunger of poor people, who cannot afford for basic needs in this high-priced economy.
Food Waste Management Market: Disruptive Trends
Recycling of food waste and disposal of wasted food at waste-to-energy (WTE) plants for incineration are driving growth of the food waste management market around the globe.
Rising population and economic activities in the eminent countries are boosting the food waste management market demand in the Asia-pacific region.
Redistribution of excess food, food waste reduction, treating food waste, recovery of energy from food waste are primary objectives of Singapore nation waste management strategy, which are supporting to build Singapore as a zero-waste nation.
Food Waste Management in Healthcare
Food waste generation at hospitals mainly comes from three points namely patient trays, kitchens, and cafeterias. This food wastage can be prevented by diversion activities such as source reduction, and food donation, particularly in the healthcare sector.
Project Funding-Anaerobic Digestion
The U.S. EPA’s commitment to the food waste management initiative involves funding innovative projects such as anaerobic digestion. In addition to this, it also supports waste management infrastructure that can convert food waste into either fertilizer or fuel.
Food Waste Management Market: Competitive Landscape
Veolia Environnement, Republic Services, Inc., Stericycle, Inc., Waste Management, Inc., Quest Recycling Services, Panda Envirovnmental Services Inc., Recology Inc., and Liquid Environmental Solutions are some of the key strategic players, which are operating in the global food waste management market.
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