The growth of the Food Waste Management Market is attributed to increasing use of organic waste for the production of feed & fertilizers, rise in global food waste, and need for reducing greenhouse gas emission. The fruits & vegetables segment is projected to dominate the global market through the forecast period, as a large quantity of waste is generated from fruits & vegetables along with roots and tubers. These wastes/scraps are easily available raw materials for compost and as feed for anaerobic/aerobic digestions.
On the basis of end users, the municipalities & households segment is estimated to dominate the global food waste management market, followed by the food service providers segment in 2017. The waste generated from the day-to-day use items, such as product packaging, clothing, food scraps, newspapers, paints, batteries, is known as municipality & household waste. Communities in the US offer a variety of options for conveniently and safely managing household waste. Waste management companies focus on recycling a large amount of waste generated from the residential sector. New technologies are used to reduce and recycle the waste.
The global market based on the anaerobic digestion segment is projected to grow at the highest CAGR between 2017 and 2022. This segment is estimated to account for the largest market share in 2017. The energy produced through anaerobic digestion is neither dependent on weather nor subject to price fluctuations. Thus, it is considered a lucrative source of energy and an effective alternative to fossil fuel.
The food waste management market, by application, has been segmented as feed, fertilizers, biofuel, and power generation. The feed segment is estimated to account for the largest market share in 2017. Food waste mainly consists of organic waste that can be completely decontaminated by techniques such as thermal treatment and sterilization and can safely be used as feed. There are various methods for yielding feed from waste; for instance, processing of organic waste from larvae to yield feed.
The North American region is projected to hold the largest market share, followed by the European region, in 2022. North America is estimated to be the fastest-growing food waste management market in the forecast period. This is mainly due to the Solid Waste Association of North America (SWANA), which supports and offers different types of services and practices, such as storage and recycling of residential waste, integrated solid waste management, institutional, commercial, and industrial solid waste in order to reduce waste in the region.
Key players the market are Veolia Environnement (France), SUEZ (France), Waste Management, Inc. (US), Republic Services, Inc. (US), Stericycle, Inc. (US), and Covanta Holding Corporation (US).
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