Asia Pacific Food Waste Management Market

Asia Pacific Food Waste Management Market Size (2024 to 2029)

Asia Pacific Food Waste Management Market size is expected to be USD 10.08 billion, to reach USD 13.92 billion by 2029 to grow at a CAGR of 7.0% throughout the forecast period 2024 to 2029.

Food waste is primarily made up of animal oils, fats, and by-products that become marketable products, especially tallow, meat, and protein-rich fats, among others. These products are used in the production of biofuels, soap, pet food, cosmetics, toothpaste, leather, lubricants, pharmaceuticals, etc. Food waste is expected to increase at an alarming rate, which will cause several challenges for the food industry during the forecast period, resulting in the growth of the Asia Pacific Food Waste Management Market.

Furthermore, unwanted food spills at weddings, parties, restaurants, and hotels also support the need for proper food waste management. These factors boost the growth of the Asia Pacific Food Waste Management Market during the forecast period.

The growing demand for improved technologies, such as gasification for waste treatment, is expected to create new opportunities in the next seven years. The gasification process converts organic materials such as biomass or combinations of inorganic and organic surpluses into a combustible gas called synthesis gas. The adverse effects of incineration and landfill techniques on the environment are expected to hamper Asia Pacific Food Waste Management Market growth. Both incineration and landfill contribute to GHG emissions, the leading cause of global warming. The incineration process involves burning the waste to turn it into ash and heat while landfill leaks can contaminate the water surfaces. Anaerobic digestion is the latest technological trend that should stimulate industrial growth to eliminate food waste, as it aids to recover energy and nutrients from products. Waste separation and collection is a significant challenge that is presumed to stimulate industry demand during the forecast period.

Food waste has been found to be high in developing and underdeveloped countries. And to overcome this problem, the governments of several countries are developing strict rules and regulations to minimize food waste. Food waste management companies that primarily focus on emerging economies in the Asia Pacific region to educate consumers about food waste and its management.

IMPACT OF COVID-19 ON ASIA PACIFIC FOOD WASTE MANAGEMENT MARKET

While food and beverage manufacturers and processors are more likely to be affected by coronavirus because of the shortage of labour and raw materials needed for the production process, foodservice and retail outlets must be facing more intense challenges from the beginning. For food retailers, the challenge would be to face the possibility of an irregular influx of consumers and, on the other hand, also assess the possibility of storing food products and beverages to ensure business continuity consumer access to the products they intend to buy. Concerns about food safety and the potential risk of transmission of the virus through public contact have significantly affected consumer visits to restaurants. In addition, while the prices of food and beverages and agricultural products have remained stable, a prolonged outbreak of COVID-19 will generate economic instability and food inflation.

This Research Report on Food Waste Management Market is segmented and sub segmented into following categories.

Food Waste Management Market By Waste Type

• Cereals
• Dairy Products
• Fruits & Vegetables
• Meat
• Fish & Sea Food
• Processed Food

Food Waste Management Market By Process

• Aerobic Digestion
• Anaerobic Digestion
• Combustion/Incineration
• Others

Food Waste Management Market By Application

• Animal Feed
• Fertilizers
• Biofuel
• Power Generation

Food Waste Management Market By Source

• Primary Food Producers
• Food Manufacturers
• Food Distributors & Suppliers
• Food Service Providers
• Municipalities & Households

Food Waste Management Market By Method

• Prevention
• Recovery
• Recycling
• Others

Food Waste Management Market By Region

• China
• Taiwan
• South Korea
• New Zealand
• India
• Japan
• Australia

The market for Asia Pacific Food Waste Management has been categorized on the basis of geography to clearly understand the local market. The Asia Pacific Food Waste Management market has been divided into China, Taiwan, South Korea, New Zealand, India, Japan, Australia, and the rest of the Asia-Pacific.

Asia-Pacific is anticipated to experience significant growth due to increased exports of various products, which is expected to enhance the volume of waste during transit further. The region's food waste is mostly decomposed and transformed into biogas, which is also used in the production of electricity. Food waste management companies that primarily focus on developing economies in the Asia Pacific region to educate consumers about food waste and its management. Moreover, the Asia Pacific area is foreseen to experience maximum growth in the food waste management market during the corresponding period 2020-2025.

KEY PLAYERS IN FOOD WASTE MANAGEMENT MARKET

Key Players In Food Waste Management Market Are Advanced Disposal Services, Inc, Republic Services, Inc, Waste Management, Inc, Waste Connections Inc, Stericycle, Inc, Clean Harbors, Inc, FCC Environment Ltd, Veolia Environnement SA,CT Environmental Group Ltd, Recology Inc,

RECENT HAPPENINGS IN THE MARKET

• In January 2017, Waste Connections, Inc. acquired Groot Industries, Inc., a private Illinois-based reliable waste management company with annual sales of $ 200 million. This acquisition enabled Waste Connections to serve approximately 300,000 customers in Illinois with a network of two recycling facilities, six transfer stations, and six collection operations.
• Harsco Corporation HSC recently announced the signing of a final agreement with Stericycle, Inc. SRCL for the purchase of its Stericycle Environmental Solutions business. In particular, the $ 462.5 million contract is subject to customary regulatory approvals and closing conditions.
• The amount of FW is supposed to increase over the next 25 years due to economic and demographic growth, mainly in Asian countries. It has been reported that the annual amount of urban waste in Asian countries could increase from 278 to 416 million tons between 2005 and 2025.