NEWARK, Del, March 28, 2023 (GLOBE NEWSWIRE) -- In 2023, the global products from the food waste market are estimated to be worth US$ 55,120 million. Food waste product sales are projected to expand at a 5% CAGR to US$ 85,905.0 million by 2033.
The products from food waste industry are gaining significant traction due to the increasing demand for sustainable solutions for food waste management. The drivers for this market include the implementation of strict regulations regarding food waste disposal and growing awareness about the environmental impact of food waste. In addition, the development of new technologies and processes for food waste management, such as Incinerator food waste disposers and food waste processors, is also driving the growth of this market.
The market for products from food waste industry also faces some restraints such as the high cost of installation and maintenance of food waste management systems, lack of awareness about the benefits of food waste management, and the unavailability of proper infrastructure in some regions. Moreover, the low profitability of food waste management and disposal services is also hampering the growth of this market.
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Opportunities for the products from food waste industry include the development of innovative technologies and processes for food waste management and the increasing demand for value-added products derived from food waste such as meat waste disposals, carysil food waste disposers, and other food waste products. In addition, the increasing demand for organic fertilizers and biofuels is also creating new opportunities for the growth of this market.
One of the emerging trends in the products from food waste industry is the use of technology to improve food waste management processes. Smart waste management systems are being developed that use sensors, data analytics, and artificial intelligence to optimize the food waste management process. In addition, the development of blockchain technology for food waste management is also gaining traction as it provides transparency and traceability in the food waste management process. These trends are expected to create new growth opportunities for the products from food waste industry in the coming years.
Key Takeaways from the Products from Food Waste Market:
- In 2022, the United States is anticipated to have a notable share in products from food waste, accounting for 8% of the global market.
- Germany is predicted to dominate the Europe market for products from food waste, with a CAGR of 4.3% during the forecast period.
- The products from food waste industry in India are predicted to thrive at a significant CAGR of 15.3% during the forecast period.
- With a CAGR of 7.4% over the forecast period, China is likely to be a prominent contributor to the growth of the products from food waste industry.
- Citrus fruits are predicted to dominate the products from food waste industry by source in 2023, accounting for around 35% of the total share.
- The food processing segment is predicted to dominate the products from food waste industry in 2023, accounting for around 40% of the market share.
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How Players are Capitalizing on Innovative Technologies in Products from Food Waste Industry?
The products from food waste industry are significantly growing and becoming increasingly competitive. With an increasing trend towards sustainability and reducing food waste, many companies are exploring ways to repurpose food waste into value-added products.
Leading players in the industry are Insinkerator, Emerson Electric Co., and Waste Management, Inc. are investing in new technologies and innovations to improve food waste processing and management. Insinkerator, for example, offers a range of food waste disposers and processors that can grind and process food waste into fine particles, while Waste Management provides a range of services to businesses and consumers to help manage and reduce food waste.
In addition to established players, many startups and small-scale companies are also entering the market, bringing them unique and innovative solutions. Carysil, for example, offers a range of food waste disposers that are compact and efficient, while TerraCycle provides a range of services to help businesses and individuals recycle their food waste.
The industry is also seeing a rise in collaborations and partnerships between companies to improve sustainability and efficiency in food waste management. For example, in 2021, PepsiCo partnered with Danimer Scientific to develop biodegradable food packaging made from plant-based materials.
Who is Winning?
The global products from food waste market key players are Aeropowder, Bio-bean Ltd., Circular Systems S.P.C., Fruitcycle, GroCycle, Jrink Juicery, Misfit Foods, ReGrained, LLC, Rise Products, Rubies in the Rubble, Snact Ltd., Toast Ale Ltd.
Market Presence Across Multiple Geographical Footprints - Strong/Active/Niche/Trivial - Buy the report
Key segments
By Source:
- Mangoes
- Apples
- Grapes
- Citrus Fruits
- Carrots
- Beetroot
- Berries
- Others
By End User:
- Food Processing
- Beverage Processing
- Cosmetics & Personal Care
- Dietary Supplements & Nutraceuticals
- Animal Feed
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa
Table of Content
1. Executive Summary | Products from Food Waste Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Read More TOC..
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Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Food Waste Management Market Size: The food waste management market is projected to be valued at US$ 70.0 billion in 2023 and is rising to US$ 121.8 billion by 2033. Sales of food waste management systems are likely to grow at a CAGR of 5.7% during the forecast period.
Convenience Food Market Share: The global demand for convenience food is anticipated to rise at a CAGR of 7%. The market revenue is likely to be valued at US$ 552.8 Million in 2022, and exhibit a revenue growth of US$ 1,086.425 Million by 2032.
GCC Functional Food Market Value: The revenue generated from the sales of functional foods in GCC countries is estimated to be around US$ 30.9 Bn by 2032, and is projected to expand at a CAGR of 11% during the forecast period 2022-2032.
Natural Food Colors Market Trends: The global natural food colors market is expected to reach a valuation of US$ 1.7 billion in 2023. From 2023 to 2033, it is projected to accelerate at a positive CAGR of 7.2%. In 2033, the market’s value is likely to surpass US$ 3.3 billion.
Soy Food Products Market Demand: The Soy Food Products market is valued at USD 45 Bn in 2022 and is projected to grow at a CAGR of 5.1% during the forecast period, to reach a value of USD 73 Bn by 2032.
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Old Source: Food Waste Management Market to Create Business Opportunities Worth US$ 83.26 Bn By 2032 | Future Market Insights, Inc
