With the presence of a large pool of participants, the Global food waste management market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). FCC Environment Limited, Covanta Holding Corporation, Remondis SE & Co. KG, Stericycle Incorporation, and Clean Harbors Incorporation are some of the key vendors of endoscopy devices across the world. These players across food waste management market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the food waste management market study.
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In a major breakthrough that can leverage food waste management market revenue, on September 14th 2018, the CEO of AqShift declared that the firm has developed an autonomous food inspection system for reducing food wastage.
As estimated in this report, the global food waste management market stood at US$ 31.99 billion in 2017. Witnessing a tremendous rise during the period from 2017 to 2023, the revenue in this food waste management market is expected to reach US$ 45.38 billion by the end of the forecast period. The main types available in this food waste management market are cereals, dairy products, fruits & vegetables, meat, fish & seafood, oilseeds & pulses, processed foods and coffee grounds & tea. Among them, the demand for fruits & vegetables is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Need For Efficiently Managing Of Food Wastes To Spur Market Growth
“Growing need for reducing proportion of food wastage as well as massive demand for effective management of food wastes is expected to shape the growth of food waste management market in the years to come,” says the author of this food waste management market study. Apart from this, factors such as poor food stock management, food spoilage, and expiry date of food is likely to push the demand for food waste management activities in the ensuing years.
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Stringent Food Safety Regulations To Support North American Dominance
Regionally, North America has been leading the worldwide food waste management market and is anticipated to continue on the dominant position in the years to come, states the food waste management market study. Stringent food safety legislations imposed by the government and growing awareness among the U.S. & Canadian population about food wastage is the main factor behind the dominance of the North America food waste management market. The presence of the key market players involved in technological innovations are headquartered in North America and are likely to contribute significantly towards the growth of this regional food waste management market in the near future.
The global food waste management market is segmented as follows:
- Dairy Products
- Fruits & Vegetables
- Fish & Seafood
- Oilseeds & Pulses
- Processed Foods
- Coffee Grounds & Tea
- Aerobic Digestion
- Anaerobic Digestion
- Animal Feed
- Power Generation
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- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa