Global Food Waste Management Market to Experience Significant Growth during the Forecast Period 2018
The food waste recycling machine market has a significant presence of small and unorganized players, with the top 5 players accounting for nearly 20% revenue share.
[USPRwire, Wed Jan 16 2019] Food waste management market is likely to grow at a healthy pace in the near future, on account of growing regulations and increasing emphasis on preventing waste. The factors for growth in food waste management market are multi-pronged, and according to a new research study by Fact.MR, the combination of these factors is likely to result into increased sales for food waste recycling machines. According to the study, sales of food waste recycling machines will reach 10,890 by the end of 2018.
Food waste continues to be a major concern for both the government and private institutions. Considering the nature of the restaurant and hotel industry, large amount of food is wasted on a daily basis, which has led to clamors for efficient food waste management techniques. Stakeholders have been hard pressed to invest in high quality food waste management methodologies, as a result of which sales of food waste recycling machines have witnessed an impetus.
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The growing emphasis on reducing greenhouse emission is also likely to provide an impetus to food waste management market. According to research, growing carbon emissions have become a subject of intense debate and concern, and governments across the globe are focusing on taking necessary steps to mitigate this challenge. Grants, funding, and aids have witnessed an increase, and subsidies on the purchase of recycling products is likely to provide an impetus to the growth of the market.
The government initiatives have been instrumental in driving growth of food waste recycling machines and food waste management techniques. The USDA and EPA are working together to reduce the amount of food losses by 2030 by half. Initiatives such as these are likely to provide an impetus to the growth of food waste management market over the course of the forecast period.
Although conscientious approaches and government regulations are driving adoption of food waste management techniques, gains have also been led on account on improving the bottom-line of the restaurant industry. The focus on reducing food waste is aligned with broader approaches towards profitability and efficient planning. These factors are likely to provide an impetus to the growth of the food waste management market over the course of the forecast period.
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The use of technology in improving existing food waste management techniques is likely to provide an impetus to the growth of the market. End-users are increasingly becoming comfortable with advanced techniques of food waste management, including use of advanced and innovative machines.
The growing emphasis on converting food waste into fertilizers, and the efficacy of such fertilizers, is also likely to provide an impetus to growth of food waste management market. According to the study, fertilizer industry is increasingly turning to food waste for manufacturing efficient fertilizers, as recycling is gaining momentum as a cross-industry trend. The growing emphasis on food waste management in the fertilizer industry is also likely to provide an impetus to growth.
The restaurant industry continues to be one of the leading end-users of waste management techniques and products. According to the study, the restaurant industry will continue to be one of the leading end-users throughout the course of the forecast period, and it is highly likely that demand will grow at a steady pace. In terms of regional dynamics, the US is likely to remain at the forefront of adoption of food waste management products, and the status quo is likely to remain so during the course of the forecast period. In addition to the US, Asia Pacific is another key market for food waste management market, as the region is home to a number of industries.
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