Excessive
amounts of waste generated from food processing will be rampant in
the food waste management market, creating more opportunities for key
players
Food
processing waste includes waste generated from agricultural produce
processing, poultry, meat, and seafood processing waste, dairy food
processing waste, and waste from other types of food processing.
Given the exponential growth of these sectors, the extent of
generation of waste from these industries can only be imagined. This
offers immense opportunities for key players operating in the global
food waste management market to target the food processing
waste segment in their business expansion and growth strategy.
Performance
snapshot of the Waste Type segment
Future
Market Insights analysis reveals that of the different types of
wastes generated, waste from food processing is likely to beat the
other segments to reach a market valuation in excess of US$ 35 Bn by
the end of the forecast period in 2027. This reflects a CAGR of 6.8%.
In terms of volume consumption, the food processing waste segment
will touch about 182 Mn Tonnes by 2027, displaying a growth rate of
5.1%. The food processing waste segment is projected to rank
relatively high on the market attractiveness index in the global food
waste management market by 2027 end.
Following
closely on the heels of the food processing waste segment is the
consumption waste segment with revenues to the tune of almost US$ 30
Bn and a volume consumption of about 139 Mn Tonnes by the end of
2027. Growth rates in this segment are second in line to the food
processing waste segment – recording a CAGR of 6.0% in terms of
value and 4.4% in terms of volume during the forecast period 2017 –
2027.
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These
two segments – food processing waste and consumption waste – are
likely to dominate the global food waste management market in terms
of revenue share throughout the forecast period. The food processing
waste segment is estimated to hold a value share of almost 39% in
2017 closely followed by the consumption waste segment at about 34%.
The food processing waste segment will witness a massive increase of
210 basis points in its market share, while the consumption waste
segment is anticipated to lose 90 basis points by the end of the
forecast period. Revenue from the food processing waste segment is
projected to increase at Y-o-Y growth rates ranging from 5.2% to 4.7%
over 2017–2027.
While
these two segments continue to witness good growth over the
assessment period, revenue from the food production waste segment
will witness a relatively low growth rate during the period 2017 –
2027. This segment will remain stagnant in terms of market share,
holding just about 9% value share during the years 2017 as well as
2027.
Regulations
governing the management of different types of food waste
It
has been observed that food waste generation is relatively high in
developed economies. An independent survey indicates that around 85%
to 90% of the total food waste in developing countries is generated
in the supply chain including producers, processors, distributors,
transportation and logistics channels, and retailers. Governments of
several countries are implementing stringent rules governing the
effective management and disposal of food waste. Some cases in point:
Food
Production Wastes: Regulatory bodies such as Food and Agriculture
Organization (FAO) and Ministry of Agriculture, Forestry and
Fisheries are regulating food waste management at the agricultural
level in order to minimise food wastage at source.
Distribution
and Supply Chain Wastes: The National Solid Waste Policy in
Brazil focusses on increasing the sustainability of solid waste
management and decreasing the total volume of waste produced at the
national level. The sectors covered in the policy include healthcare,
construction, transportation, forestry, mining, industrial, domestic,
and public.
Consumption
Wastes: The Macon-Bibb Commission has passed a law to privatise
certain waste management services for garbage and yard waste within
the city (residential) limits of the United States.
Retail
Wastes: The Waste Management Legislation in Europe has made it
mandatory for food manufacturers, service providers, and the retail
sector to deal with food waste recycling and disposal in an
environment friendly manner.
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