Global Food Waste Management Market | Food and Beverages

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Food Waste Management Market Initiating
Efficiency Via Sustainability Over the years, the
share of global food wastage has risen
significantly, having a detrimental effect on the
economy and the environment. As per the Food and
Agriculture Organization, nearly one- third of
the food gets wasted annually, accounting for
around 1.3 billion tons. Moreover, the UN Food
Waste Index Report 2021 reported that
approximately 17 of the food is wasted at the
retail and consumer levels. This food loss
indicates the depletion of natural resources,
necessitating the development of waste management
systems to enhance food security and
sustainability. Tritons analysis suggests that
the global food waste management market is
estimated to expand with a CAGR of 5.66 from
2023 to 2030. Additionally, the market is
expected to garner revenue worth 63.31 billion
by 2030. Governments globally are acknowledging
the importance of food waste management
solutions. For instance, in February 2023, the US
Department of Agriculture (USDA) invested more
than 9.4 million in 45 compost and food waste
reduction projects that support scalable waste
management plans to decrease and deflect food
waste from landfills. Global food depletion has
paved the path for innovative solutions, from
organic feed production to technology-driven
waste management. Lets take a deeper look into
these major trends.
Harnessing Organic Waste Power Driving
Efficiency in Animal Feed and Fertilizer
Production One of the key sustainable solutions
to reduce food wastage in landfills is its use in
animal feed production, particularly livestock.
This waste management solution simultaneously
helps address
issues like food security, resource conservation,
pollution, and climate change. As per Tritons
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analysis, in terms of the recycling service
segment, the animal feed category is estimated to
advance with a CAGR of 6.29 over
2023-2030. Moreover, this sustainable method
contributes heavily to a circular economy,
prompting various strategic initiatives. For
instance, in January 2023, Nest Co-Founder Matt
Rogers introduced a new service that enables
consumers to turn household waste into chicken
feed for 33 per month. Further, foods such as
fruits, vegetables, dairy, cereals, bread, etc.,
have emerged as key fertilizing agents, enhancing
soil health, reducing erosion, and improving
water quality. Likewise, organic food waste can
be used for natural gas and biofuel production,
lessening reliance on fossil fuels. Given these
parameters, fruits and vegetables is anticipated
to emerge as the fastest-growing waste type at a
CAGR of 6.02 during the forecast period
2023-2030. In addition to being a good source of
micro and macronutrients, food waste eliminates
various plant diseases. Hence, the increasing
trend of conversion of organic food waste to
animal feed and fertilizer widens the global
scope of food waste management. Combating Food
Wastage with Tech-Driven Management In the waste
management sector, there has been a growing
inclination among the leading players to
reconsider conventional methods and adopt
cutting-edge solutions. In this regard, big data
has enabled organizations to accurately gain data
on garbage levels, increasing operational
efficiency. Further, smart waste management via
AI, machine learning, and IoT improves every
facet of trash management, from collection to
recycling. Accordingly, easyJet Holidays, in
March 2023, introduced an AI-powered hotel food
waste reduction scheme in partnership with
Winnow. This scheme will enable partner hotels to
leverage AI to run more sustainable
kitchens. Furthermore, according to the US
Department of Agriculture, around 30-40 of the
food supply is wasted, costing approximately 218
billion. Moreover, food accounts for 24 of the
solid waste in landfills. This high wastage
resulted in the introduction of a federal
interagency strategy between USDA, EPA, and FDA
to address food waste under the Winning on
Reducing Food Waste Initiative. As a result,
government initiatives backed by technological
advancements fuel the North America food waste
management markets expansion, spearheaded by the
United States. Increased Food Demand Necessitates
Effective Management As per United Nations, the
global human population reached 8 billion in
mid-November 2022. This number is expected to
surge by nearly 2 billion by 2050. This will
boost food consumption, simultaneously adding to
food wastage levels. Additionally, the growing
demand for ready-to-eat meals and flexible
packaging solutions has soared retail and
eCommerce food sales in recent years. Whats
more, with around 11.3 of the worlds population
suffering from chronic hunger and malnutrition,
effective food management has become crucial for
businesses and communities. As a result, the need
to create workable, sustainable solutions to
escalating food waste is estimated to create
opportunities for the food waste management
market.
FAQs
Q1) What is the size of the food waste management
market?
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In 2022, the global food waste management market
garnered 40.55 million. Q2) Which are the major
food waste types? Fruits vegetables, processed
food, cereal, and dairy products are major food
waste types.