Food Waste Management Market

Food Waste Management Market

The global food waste management market has witnessed substantial growth in terms of revenue, driven primarily by the fruits and vegetables sectors. In 2022, the market was valued at USD 13,987 million, and it is projected to reach USD 21,245 million by the year 2028, representing a remarkable compound annual growth rate (CAGR) of 7.3% during the forecast period. The fruits and vegetables sector is a significant source of food waste, particularly in developed countries. Much of this waste occurs before these products reach consumers, often due to factors such as not meeting quality standards and overproduction. This waste not only has environmental implications due to its high degradability but also carries economic costs for organizations and represents a squandering of valuable biomass.

Throughout the forecast period, the animal feed segment is projected to hold the largest share of the overall food waste management market. This is largely due to the cost-effectiveness and environmental friendliness of producing animal feed from food waste, including fruits, vegetables, meat, dairy products, fish, and cereals.

The revenue of anaerobic digestion segment has experienced strong growth from USD 20,369 million in 2020 to USD 23,677 million in 2023, representing a CAGR of 5.1%. This is mainly because anaerobic digestion is a technology that can facilitate the recovery of nutrients from food waste, help with the building of soil organic matter and generate renewable energy—the latter of which is extremely important to combat climate change.

The global food waste management market is segmented into services, hardware, and software. Services dominate the market share due to the labor-intensive nature of collecting food waste from various locations and transporting it to processing plants. The software segment is expected to demonstrate the highest compound annual growth rate (CAGR) of 7.2% from 2023 to 2028. Meanwhile, Software is experiencing rapid growth globally and is widely used for segregating good and expired foods to prevent unnecessary waste. Additionally, it aids the food service sector in optimizing raw material orders, leading to reduced food wastage and cost savings.

The Asia-Pacific food waste management industry is expected to reach USD 12,350 million in 2028 at a CAGR of 6.6% from 2023 to 2028, according to the Tanalyze analysis. In the Asia-Pacific region, particularly in developing countries, a significant portion of food wastage occurs during the post-harvest phase. The primary causes of post-harvest food losses and wastage include diseases and pest infestations, inadequate production planning, and a lack of essential infrastructure such as power, water, storage facilities, and roads.

The prominent players operating in the global food waste management market include Waste Management, Inc., Republic Services, Inc., Waste Connections, Inc., Clean Harbors, Inc., Quest Resource Holding Corporation, Veolia Environnement S.A., GFL Environmental Inc., Casella Waste Systems, Inc., Covanta Holding Corporation, Recology Inc., Stericycle, Inc., Viridor Limited, Biffa plc, RETHMANN SE & Co. KG, Cleanaway Waste Management Limited, Suez S.A., FCC Environment Limited, Rubicon Technologies Inc., Renewi plc, among others.