Food waste is one of the most pressing issues in current time owing to poor stock management, negligence of expiry date of products, over excessive supply and demand and lifestyle effect. The food segment accounts for a major market share in global business for a long time. Food items have a lesser shelf life and require good handling and storage options. Better management of current wastage of food is possible only through practices to take into consideration and the conversion of global food waste into various useful products.
Food wastage management market is expected to be on a rise on a rise as there is a substantial amount of food wastage nowadays owing to ever lifestyles and the rise in food catering services owing to birthday parties, grand weddings, and uprise in eating outdoors at hotels and restaurants.
According to global statistics, the food waste management market is valued at approximately USD 30.89 billion in 2016 to USD 44.98% by 2025 at CAGR of around 6.12% for the forecast period.
Anaerobic absorption process delivers brilliant by-product, for example, compost which is an exceptional quality natural manure and causes less ecological contamination. Sustenance squander administration industry reuse around 97% of feed litter created to deliver animal feed and natural compost. In light ofthe physical condition of the waste produced distinctive procedures are utilized.
Factors that influence and contribute to the need to manage this market:
To reduce greenhouse emission the increment in the utilization of natural waste for the creation of animal feeds
Noticeable increase in energy requisites like 25 % of the total global energy budget, usage of land, and swallows of freshwater consumed globally.
NRDC says organic matter accounts to large amounts of methane emissions
Furthermore, all of that wasted food could feed many homeless around the world
The rising demand in applications such as animal feeds, renewable energy, and surge in demand is supplemented by the growing application of disposal in fertilizers manufacturing.
Rapid industrialization, the importance of innovation and R&D for developing efficient food waste management system is likely to influence market growth.
Loss of valuable biomass
Recycling processes in the food waste management Industry widely used apart i.e. anaerobic digestion process which accounts for the largest share. Apart from that, the processes include anaerobic assimilation, burning or ignition and different procedures, for example, redistribution, minimization, and transfer.
Types of food wastage:
Fruits & vegetables
Oilseeds & Pulses
Fish & seafood
Coffee grounds and Tea