Adroit Market Research - Industry Insights

Food waste, over the years has certainly emerged as an untamable crisis that has relentlessly impeded economic growth in more than on way. The perils of odor nuisance augmented by rotting food waste accumulation, as well as unfathomable rise in worm and insect breeding under such conditions contribute immensely towards diverse food related maladies, besides posing environmental deterioration. The situation is a global concern and has encouraged several corrective measures. These aforementioned conditions are estimated to reckon remunerative growth possibilities in global food waste management market.

Statistical Review of Global Food Waste Over the Last Ten Years<

Food waste, over the years has certainly emerged as an untamable crisis that has relentlessly impeded economic growth in more than on way. The perils of odor nuisance augmented by rotting food waste accumulation, as well as unfathomable rise in worm and insect breeding under such conditions contribute immensely towards diverse food related maladies, besides posing environmental deterioration. The situation is a global concern and has encouraged several corrective measures. These aforementioned conditions are estimated to reckon remunerative growth possibilities in global food waste management market.

Statistical Review of Global Food Waste Over the Last Ten Years

Owing to contributing factors such as steadily growing population across the globe it is likely that instances of food waste will continue to remain high, thereby imposing tangible environmental and financial downturn. According to the US. Food and Agriculture Organization, an approximate value of over 1.3 billion tons of food waste is generated annually. Additionally, according to Singapore based National Environment Agency, total food waste makes up for over 10% of total waste generation in Singapore. However, despite active food waste recycling activities undertaken in the nation, a little over 17% of the total food waste undergoes recycling. According to the agency, the annual food waste generation in Singapore has increased multifold, roughly 30% in the span of the last decade and is further expected to bolster under prevailing conditions of population increase and inadequate recycling initiatives.

Some of the most logical food waste management tactics followed globally comprise reselling of food items which remained unsold and are in saleable conditions across retail outlets. The burden of food waste can reasonably be tackled by ample food treatment or recycling measures to gradually advance towards zero waste. Additionally, un-recycled food waste components are also further utilized to convert into energy.

Countries such as Singapore are Incessantly Progressing towards Zero Waste Nation Status

Countries such as Singapore have embraced these food treatment mechanisms to adhere to the principles of Sustainable Singapore Blueprint, 2015.The aforementioned commission was set up after rigorous research activities taken up nationwide to understand food waste patterns and their contributing factors. National Environment Agency of Singapore after carrying out this detailed study opined that, large amounts of food waste emerged from various retail products that exceeding their shelf life, hence deemed unfit for regular consumption.

Waste-to-Energy Conversion Mechanism: a Potent Food Waste Treatment Tactic

Hence, the agency is brainstorming on numerous new solutions to curb food waste across the supply chain. Under the scheme, several high end, on-premise food waste treatment mechanisms are being incorporated so that food retail outlets, hotels, eateries, et al can easily implement waste treatment techniques such as developing compost. Remaining untreated food waste are transported to waste-to-energy conversion centers to attain energy from food waste. Setting up of indigenous, in-house food waste management mechanisms across hotels and restaurants is slowly gaining momentum and is expected to reflect favorably towards optimum waste management.  Initiatives as such are likely to pave way for reasonable growth in global food waste management market in the coming years.

According to several studies such as a report by open access government report, the hospitality sector is one of the highest contributors of food waste. As high as two million tons of food waste is generated across the hospitality sector in the UK. Such challenging conditions necessitate adoption of advanced food waste treatment mechanisms across hospitality and food industries alike.

RiverRidge Increases Waste Management Capabilities with Novel Vehicle Additions to the Fleet

At the backdrop of devastating food waste pile-ups, several food waste management institutions have surfaced up with their innovative and goal oriented solutions ranging from novel food waste treatment facilities to new vehicles with improved feature designs for waste collection. In this light, notable Ireland based food waste management organization, RiverRidge has diversified its fleet of waste collection vehicles, with the addition of sophisticated Macpac vehicles in a bid to further improve its food recycling capabilities.

Opportunities in food waste management market is swelling with opportunities in the back of stringency in minimal food waste initiatives triggered by Northern Ireland Environment Agency. Several stakeholders in the hospitality sector are gradually investing in such services to comply with corporate responsibility objectives. With such far-reaching efforts in waste management, global food waste management market is poised to remain crucially lucrative in the forthcoming years.

Sustainability led company, WPM Green Energy has recently incorporated an on-premise food waste recycling equipment at an Ireland based restaurant, The Yacht.  The design, ORCA is a highly innovative aerobic digestion technology to carry out food waste recycling. These novel additions are poised to incur rampant adoption of unique food waste management tactics, incurring bullish growth in food waste management market in the foreseeable future.

Global Food Waste Management Market: Overview

Stringency in waste management and judicious control over food waste are likely to drive in enormous growth avenues in global food waste management market. The global food waste management market stood at a value of USD 32.88 billion in 2018 and is anticipated to reach approximately 50.69 billion by 2025, clocking a CAGR of 5.6% through the forecast span. Poised by tremendous spike in food consumption followed by sizable waste on the back of diverse factors, the global market for food waste management market is estimated to remain highly rewarding owing to deficient production, distribution, and storage management. The growth trend is also highly influenced by exponential spike in the hospitality sector and concomitant rise in food waste across hotels and eateries.

The global food waste management market is diversified into process overview and application. By process overview the global market is diversified into collection, disposal, and transfer amongst others. Based on application the market is further segregated into animal feed and fertilizers amongst others. In terms of regional outlook the market is demarcated into Europe, North and Latin America, APAC, and MEA. With visible progress in waste collection processes, the collection segment is likely to grow aggressively with notable stakeholder initiatives towards improved vehicular support towards transfer, storage, and disposal. In terms of regional distribution, North America is likely to remain the highest growing regional hub.

Takeaways

• Food Waste Comprises the largest section of waste sources globally.
• Continuous spike in human population is likely to directly affect consumption patterns besides amounting to enormous food waste.
• Advances in hospitality sector likely to further expedite adoption and subsequent growth in global food waste management.
• Emergence of on-premise food waste management across hotels, restaurants, eateries, and pubs alike are likely to further diversify scope for food waste management in forthcoming years.
• Stakeholders mainly focus on vehicular development to introduce fast stead and tangible improvements in waste storage and collection for further processes.
• North America to remain atop the growth curve of revenue maximization in global food waste management market.