North America Food Waste Management Market

North America Food Waste Management Market Size (2024 to 2029)

North America Food Waste Management Market is expected to be USD 10.54 billion by 2024 to reach USD 13.84 billion by 2029 to grow with a CAGR of 5.6% 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 meat and protein-rich fats. These products are being utilized in the making of biofuels, soap, pet food, cosmetics, toothpaste, leather, lubricants, pharmaceuticals, etc. Food waste is foreseen to increase at an alarming rate, which will cause several challenges for the food industry during the forecast period, supporting the growth of the North America Food Waste Management Market. Furthermore, unwanted food spills at weddings, parties, restaurants and hotels also support the need for proper food waste management. All these aspects promote the growth of the North American Food Waste Management Market in the coming years.

IMPACT OF COVID-19 ON NORTH AMERICA FOOD WASTE MANAGEMENT MARKET

While food and beverage manufacturers and processors are more likely to be affected by a shortage of labour and raw materials needed for production, food service and retail outlets must face more intense challenges from the beginning due to the coronavirus. 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 and consumer access to the products they intend to buy.

Rapid industrialization and increased R&D activities to develop efficient systems should positively influence growth. The increasing use of organic waste for the production of animal feed and fertilizers, the reduction of greenhouse gas emissions and the growing energy needs are the factors that should stimulate the demand for food waste management systems in North America. Increased consumption of processed foods, including prepared meals, is also expected to stimulate demand. In the United States, the fruit and vegetable segment had more than 39.4% of the overall revenue in 2018. The surge in health-conscious consumers in the country is likely to stimulate the consumption of fruits and vegetables, thus causing an increase in food waste production. In addition, the government initiative to educate people on proper storage methods for fruits and vegetables to prevent rot should stimulate growth.

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 assumed to hamper North America 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. The recent trends like anaerobic digestion should stimulate industrial growth to eliminate food waste, as it helps to recover energy and nutrients from products. Waste separation and collection is a significant challenge suspected of stimulating industry demand during the outlook period.

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

North America Food Waste Management Market By Waste Type

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

North America Food Waste Management Market By Process

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

North America Food Waste Management Market By Application

• Animal Feed
• Fertilizers
• Biofuel
• Power Generation

North America Food Waste Management Market By Source

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

North America Food Waste Management Market By Method

• Prevention
• Recovery
• Recycling
• Others

North America Food Waste Management Market By Region

• United States
• Canada
• Mexico

North America has the largest market share due to overproduction, lack of cold chain infrastructure, market fluctuations, and variable customer demand and is expected to continue growing at a faster rate. The United States is foreseen to represent significant participation in the regional market due to the country's food industry's growth. One of the main factors behind its growth is the increase in government initiatives to reduce food waste. Furthermore, significant investments in advanced disposable techniques to generate useful products such as fertilizers and biogas have also strengthened its position in the North America Food Waste Management Market. Canada is also a promising market in the local business.

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 EUROPEAN FOOD WASTE MANAGEMENT INDUSTRY:

• Viridor has announced its intention to continue investing in critical energy recovery and recycling infrastructure in the UK, following the successful completion of KKR's £ 4.2 billion commercial acquisition. In March, Pennon Group announced its intention to sell Viridor to Planets UK Bidco Limited, a new company formed with funds advised by KKR.
• Danone Manifesto Ventures led an investment cycle in food waste management startup Phenix, which received new investment from ETF partners BPI, Sofiouest and INCO. France-based Phenix has pioneered a platform that enables consumers to reduce food waste by purchasing unsold products from local retailers, food producers, and stores at a reduced price, thanks to a mobile app.
• Blue Planet Environmental Solutions Pte Ltd, a Singapore-based waste management company backed by private equity firm Neev Fund, has acquired a Pune-based waste treatment company. Blue Planet said in a statement that it has acquired Xeon Waste Managers LLP, which provides solutions to convert organic waste into energy.