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Food Waste Management Market Worth $106.7 Billion by 2030: Grand View Research, Inc.
The consumption of ready-to-eat and packaged foods is also predicted to increase as a result of changing lifestyles and an increase in the number of dual-earner families. Growing consumer demand for unusual food items like premium coffee, tropical fruits, and imported goods is anticipated to increase the amount of food that is wasted, which in turn is likely to drive market expansion.
The food industry is undergoing tremendous change such as plastic ban, the rise of veganism, stringent regulatory framework, the presence of e-commerce, the adoption of modern technologies, and waste reduction, and is seeing an increase in international trading of food and food ingredients, which is creating new supply chains, thereby augmenting the market demand.
Increasing per capita income is expected to boost the demand for packaged and ready-to-eat food across the globe, thereby boosting food waste generation. High disposable income of consumers and recovering confidence in the economy are projected to boost the consumption of food and beverages, which in turn, is likely to aid the market growth.
Food waste is treated in various ways such as incineration and composting, although landfilling and incineration have a negative impact on the environment. However, implementing precautions like energy recovery through municipal wastewater treatment plants and landfill gas collection during the process help in lowering the environmental impact, thereby driving the market growth.
Companies such as Veolia Environnement SA, Suez, and Covanta Ltd. are undertaking strategic acquisitions, and product launches to strengthen their product portfolio. For instance, in February 2022 , Veolia Environnement SA and TotalEnergies entered into an agreement in order to improve biomethane from Veolia's wastewater treatment plants and waste-processing facilities.
Grand View Research has segmented the global food waste management market based on waste type, source, service type, and region
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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