Global Food Waste Management Market 2023-2030
MARKET OUTLOOK
Based on the estimates from Triton Market Research’s report, the global food waste management market is likely to progress with a CAGR of 5.66% in the forecast period from 2023 to 2030.
The rising levels of food waste across the world are the prime factor driving the studied market. In addition, factors such as the growing emphasis on reducing greenhouse gas emissions and the use of organic waste to produce livestock feed & fertilizers are also contributing to the market’s growth.
However, the inefficient methods of food waste collection and negative environmental consequences of waste processing methods pose a challenge to the market’s growth. On the bright side, the expanding population and technological advancements for effective waste management present growth opportunities to the food waste management market.
REGIONAL OUTLOOK
The global food waste management market report studies the regions of Europe, Latin America, the Asia-Pacific, the Middle East and Africa, and North America.
The Asia-Pacific is estimated to showcase the fastest growth in the global market over the forecasted duration. The implementation of several government initiatives, along with campaigns like Save Food Asia-Pacific, have positively influenced the growth of the region’s food waste management market.
On the other hand, North America is the leading region in the global market, as it accounted for the highest revenue in 2022. The estimated food wastage rates per capita in the US and Canada are among the highest in the world. This has called for increased attention toward effective management of food loss and waste, which, in turn, contributed to the market growth in the region.
COMPETITIVE OUTLOOK
The well-known companies profiled in the food waste management market include Clean Harbors Inc, Waste Management Inc, Veolia, Republic Services Inc, FCC Environmental Services, GFL Environmental Inc, Cleanaway Waste Management Limited, Casella Waste Systems Inc, Suez SA, and Waste Connections Inc.
Established in 1853, Veolia is engaged in designing and implementing solutions for waste, energy, and water management. The company serves public authorities, local authorities, industrial and commercial service customers and individuals.
Veolia offers multiple waste collection systems catering to the territorial and economic stakes of its customers. As of fiscal year 2021-2022, its waste business accounted for 39.4% of the company’s total revenue. Veolia has a strong and diversified geographic presence, with operations across Europe, Latin America, Asia, Africa, North America, the Middle East, and Oceania.