Food Waste Management Market Size, Share, Growth Analysis, By Waste Type, By Process, By Source, By Application, By Region - Industry Forecast 2024-2031

Global Food Waste Management Market size was valued at USD 66.2 billion in 2022 and is poised to grow from USD 69.8 billion in 2023 to USD 106 billion by 2031, growing at a CAGR of 5.4% during the forecast period (2024-2031).

The burgeoning global concern surrounding food waste is significantly propelling the growth of the Food Waste Management market. This expansion is driven by the rising consumer demand for innovative food products, alongside a growing interest in exotic items such as tropical fruits and fine coffee. Concurrently, the escalating global food waste levels, the urgent need to curb greenhouse gas emissions, and the increasing utilization of biowaste for producing feed and biofertilizers are pivotal factors in this market's progression. The fruits and vegetables segment is poised to dominate, largely due to the substantial waste generated by these categories. With the global population surge and the corresponding rise in food production and consumption, the food waste issue has become more pronounced. Shifting consumer preferences, compounded by the challenges posed by the COVID-19 pandemic-such as supply chain interruptions affecting perishable goods-have further exacerbated the problem in regions like South Africa and the UAE. Statistics reveal a shocking 1.4 billion tonnes of food waste annually, with the U.S. alone discarding between 40 to 80 billion pounds each year, translating to approximately 219 pounds per individual. The increasing health consciousness among American consumers is anticipated to elevate the consumption of fruits and vegetables, inadvertently leading to higher food waste levels. However, government initiatives promoting better storage practices for these perishables may help mitigate this waste, ultimately benefitting the food waste management sector.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Food Waste Management market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Food Waste Management Market Segmental Analysis

Global Food Waste Management Market is segmented by Waste Type, Process, Source, Application and region. Based on Waste Type, the market is segmented into Cereals, Dairy products, Fruits & Vegetables, Meat, Fish & Sea, Processed, Others. Based on Process, the market is segmented into Aerobic, Anaerobic, Combustion/Incineration, Others. Based on Source, the market is segmented into Primary Food Producers, Food Manufacturers, Food Distributors & Suppliers, Food Service Providers, Municipalities & Households. Based on Application, the market is segmented into Animal Feed, Fertilizers, Biofuel, Power Generation. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Food Waste Management Market

The Global Food Waste Management market is significantly driven by proactive government initiatives aimed at minimizing food waste. National governments and food management organizations have adopted stringent regulations that encourage growth within the industry. Programs such as the UK's "Love Food, Hate Waste" and Denmark's "Stop Wasting Food" mobilization illustrate this commitment. Additionally, collaborative efforts like Think Eat Save, which involves Messe Dusseldorf, the FAO, and UNEP, strive to enhance awareness around food waste management in alignment with the UN Secretary-General's Fight Against Hunger initiative. With over one-third of global food production-approximately 1.6 billion tons-lost annually, and substantial contributions to greenhouse gas emissions, these regulatory frameworks not only compel businesses in the food sector to accurately assess waste management practices but also foster transparency with policymakers to enhance waste reduction strategies.

Restraints in the Global Food Waste Management Market

The Global Food Waste Management market faces several significant challenges that hinder its development. One of the primary concerns is the potential for disease transmission stemming from improper waste disposal. Effective waste segregation, which involves distinguishing between dry and wet waste, is crucial for facilitating subsequent waste management processes such as composting, recycling, and safe disposal. When waste is not managed properly, it can lead to increased pollution of land, water, and air, posing severe risks to public health. Residents living near contaminated sites may suffer from a myriad of health issues, including skin irritations, respiratory problems, infections, and developmental disorders, underscoring the critical need for effective food waste management practices.

Market Trends of the Global Food Waste Management Market

The Global Food Waste Management market is witnessing significant growth driven by increasing environmental concerns, regulatory support, and innovative solutions aimed at waste reduction. As governments and organizations, like the Idaho DEQ, actively seek proposals for innovative waste management strategies, the focus shifts towards enhancing recycling, composting, and diversion methods. The backing from initiatives such as the US EPA's Sustainable Materials Management Program underscores the urgency to promote sustainable practices throughout material lifecycles. This trend reflects a broader commitment to sustainability, creating lucrative opportunities for businesses and technologies dedicated to minimizing food waste and redistributing excess food, fueling market expansion.