Products from Food Waste Market - Key Research Findings
Products from Food Waste Market - Key Research Findings
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The global products from food waste market size in 2019 - Nearly US$ 46,700 Mn.
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The products from food waste market will observe nearly 5% CAGR over 2019-2029.
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According to the data published by the Rethink Food Waste Through Economics and Data-
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The number of meals recovered per year globally are 1829.
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Food waste diversion potential is pegged at 13,201 MT per year. Moreover, the economic value from the diverted products from food waste could be 44,000 Mn.
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Prevention and recycling are a more preferred option than recycling.
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North America and Europe will remain prominent regional markets for Products from Food Waste.
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The growing number of innovators which are coming up with on-site solutions for creating products from food waste, especially in U.K. and U.S., is expected to propel market growth.
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East Asia holds high growth potential for the products from food waste market.
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Being a highly agriculture based region, the waste generated in the supply chain opens ample opportunities for manufacturers to come with solutions for products from food waste.
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Food and beverage processing segments are one of the fastest growing segments amongst end use in the products from food waste market.
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The two most important industries, which hold market potential for products from food waste are beverage processing and bakery. Nutritious and gluten-free flours are increasingly finding applications in bakery and hence, alternative sources can gain entry without the need for penetration efforts for products from food waste manufacturers.
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Top Factors Shaping the Products from Food Waste Market
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Damage Due to Poor Storage and Handling during Transportation
The handling damage in fresh produce is unavoidable. Hence, this produce can be utilized for the production of products from food waste. Some fruits and vegetables have very less shelf life, such as berries, but yield an excellent value product from food waste-seed oil. The low shelf life of fresh produce also contributes to food waste, creating opportunities for the products from food waste market to grow.
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Conventional Food Disposal Trends
Landfills and incinerations are the most common ways of disposing food. These have resulted in unnecessary pollution on the planet.
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Nutritional Evaluation from a Different Angle
Scientific research supporting the nutritional content of wasted food has created a pathway for preventing food wastage. Research on fruit pomace and promotions by scientific communities are major market forces propelling the utilization of products from food waste.
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Ethical Values of Consumers
Consumers nowadays are becoming aware about sustainable means of production, and also have high regards towards food sustainably. These are the target demo graph for the products from food waste market.
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Cost-effective Production
The emergence of a large number of players in the food industry has led to cut-throat competition in the market. Moreover, the economic crisis has also compelled manufacturers to come up with cost-effective means of production, and preventing and utilizing food waste is one of them.
Products from Food Waste Market Structure Analysis
- A large number of small- and medium-sized companies dominate the products from food waste market in terms of volume, which are destined for human consumption.
- New entrants in the products from food waste market are constantly focusing on product development and the expansion of the production capacity of their facilities.
- Being at a very introductory level, manufacturers for products from food waste are focusing on receiving funds from governments and non-profit organizations.
- The rest of the products from food waste are sold for the production of animal feed premixes or direct consumption for animals. Currently, very small-sized companies are engaged in this business.
Tapping New Opportunities - Exploring the Potential of Products from Food Waste
Around a third of the total food produced globally remains uneaten, which points to an alarming fact for food cultivators, producers, manufacturers, processors, and sellers, as well as consumers. The food waste in any form is increasingly being viewed as a valued resource for further to be reassessed, repurposed, and resold to businesses operating in a plethora of end use application areas, particularly those linked with sustainability. Rethinking, repurposing and reselling food waste as a resource is rapidly emerging as a hotbed of opportunities.
Products from Food Waste Market Set to Grow Nearly 2X between 2019 and 2029
The large number of emerging players in the food industry has led to cut-throat competition. Moreover, economic crisis has also compelled manufacturers to come up with cost-effective means of production, and preventing and utilizing food waste is one of them.
A Lot of Waste Taken up by Food & Beverages Processers
Some of the products obtained from products from food waste, such as oil and flour, find major application in food & beverage processing. This is also attributed to the rise in fortification with natural ingredients, and opens avenues for the products from food waste market to expand, that too in a cost-effective way.
The Broader Outlook
While end use applicability of the products from food waste remains notable in the food and beverages processing sectors, several other application areas involving value added products, such as biofuel and bio-insulators currently contribute a larger share of around 75%, to the global revenues generated by products from food waste market.
How Growth will Unfold
For both, small- and large-scale manufacturers, the supply of raw material for products from food waste is abundant, with processing capacities too small. Upgrading technology and scaling up production is the key to boost volume growth of the products from food waste market.
Moreover, logistics services are also poor, and the procurement and processing of products from food waste is restricted to the areas with agricultural proximity. Hence, better transportation and supply chain will enable on-site expansion for some players in the products from food waste market.
PRODUCTS FROM FOOD WASTE MARKET TAXONOMY
The global products from food waste market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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
- Middle East & Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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