The vegetable waste products market is likely to record a moderate CAGR 5.2% during the forecast period. The market is currently valued at US$ 40 Bn and is likely to reach US$ 64.21 Bn by 2032.
| Attributes | Details |
| Vegetable Waste Products Market CAGR (2022-2032) | 5.2% |
| Vegetable Waste Products Market Value (2022) | US$ 40 Bn |
| Vegetable Waste Products Market Value (2032) | US$ 64.21 Bn |
Vegetable waste products are produced from the waste veggie leftover or supply waste. Vegetable waste works as a better alternative to the products that are extracted synthetically, making it safe for the environment increasing the sales of vegetable waste products.
As the concerns regarding the environment rise, the sales of vegetable also rise along. Its use as an organic fertilizer, therapeutic compounds, phytochemicals, livestock feed and pigments help it in diversifying its market applications, enabling the demand for vegetable waste products into new markets.
One-third percentage of food produced is wasted meant for human consumption, which sums to nearly 1.3 billion tons per year. Which vegetables along with fruits make up to 45% of the losses as per the reports by the Food and Agricultural Organization of the United Nations (FAO).
The increase in environmental concern, lack of proper waste management and sustainability issues could cause the rise in demand market of vegetable waste products and are anticipated to serve as drivers, increasing the sales of vegetable waste.
Poor air quality caused an estimated death toll of 4.2 million people in 2016, as per the reports by the World Health Organization.
To reduce the greenhouse gas emissions, which are key causes of air pollution, Bio-ethanol, one of the vegetable waste products are obtained from carbohydrate-rich vegetables, could be used as a gasoline replacement or additive since global concerns about climate change and the consequent have encouraged the use of it, enhancing the demand for vegetable waste.
Consumers are now aware of the harmful effects of inorganic agricultural produce and are switching to organic fruits and vegetables. Which are cultivated by the usage of organic fertilizers; hence this could accelerate the market of vegetable waste products.
Organic fertilizers lack the presence of heavy metals and toxic chemicals, making them safer for microbial life, plants and users. Hence making it a potential vegetable waste product.
As per reports by the Food and Agricultural Organization of the United Nations (FAO), by 2050, to feed an increasing population, 70 per cent more meat and milk will be required, the increasing future demand indicates a huge demand for feed resources for the livestock.
A key sustainable livestock feed development could be obtained from vegetable waste, providing optimum nutrition, helping in reduction of wastage as well as not competing with human food. This will be lead to an increase in the market of vegetable waste products market. Food additives such as pectin are a crucial vegetable waste product and can be applied in beverages, bakeries, and confectionary
One of the major challenges posed to the vegetable waste products market is to invent or produce eatables that are fit for humans as well. The research and development department is currently trying to focus on obtaining nutraceuticals, phytochemicals and other therapeutic compounds from the vegetable leftover peels, skin, seed, etc., which could be a breakthrough vegetable waste products market.
India is the second-largest producer of fruits and vegetables, reportedly wasting about 18% of its produce – valued at Rs 13,300 crore annually, according to the Central Institute of Post-Harvest Engineering and Technology (CIPHET). The manufacturers can thus expect inclination in the vegetable waste products market in the Asia-Pacific region.
According to U.S Energy Information Administration, the gasoline consumption in the year 2018 revealed the United States to be utilizing 142.86 billion gallons in the year 2018. This indicates there could be an opportunity for an increase in demand for bioethanol which is a vegetable waste product in the northern American region.
The world cattle were approximately noted as 1.4 billion head in 2018, where Brazil led by 14%, followed by India 12% and China 7% by Food and Agricultural Organization of the United Nations (FAO). This shows the demand for vegetable livestock feed could be escalated globally. Hence increasing the sales of vegetable waste products.
The key players of the Vegetable waste products market are focusing on. The competitors also focus on factors like product launches, partnerships and innovative technology that drive the demand for Vegetable waste products business. This drives the sales of Vegetable waste products.
Key players in Vegetable waste products market include Itapollina S.p.A, Coromandel International Limited, ILSA S.p.A, Sigma AgriScience LLC, California Organic Fertilizers Inc, BioGasol ApS and SEKAB Biofuel Industries AB
| Report Attribute | Details |
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 - 2020 |
| Forecast period | 2022 - 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Source, End Use, Function |
| Regional scope | North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa |
| Key companies profiled | Itapollina S.p.A, Coromandel International Limited, ILSA S.p.A, Sigma AgriScience LLC, California Organic Fertilizers Inc, BioGasol ApS and SEKAB Biofuel Industries AB |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
Asia Pacific is the biggest market for the vegetable waste products market and is expected to hold a big portion of the market in the forecast period due to the rising demand for organic fertilizer, new extraction projects in the region.
Key competitors holding substantial vegetable waste products market share are Itapollina S.p.A, Coromandel International Limited, ILSA S.p.A, Sigma AgriScience LLC, California Organic Fertilizers Inc, BioGasol ApS and SEKAB Biofuel Industries AB
Demand for vegetable waste products is likely to rise with its high use as organic fertilizer, livestock feed and phytochemicals. This increases the demand for vegetable waste products.
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Vegetable Waste Products Market
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