Food Waste Management Market to Create Business Opportunities Worth US$ 83.26 Bn By 2032 | Future Market Insights, Inc

Products from Food Waste Market Set to Grow Nearly 2X between 2022 and 2032. Some of the key market players in the Products from Food Waste Market are Aeropowder, Bio-bean Ltd., Circular Systems S.P.C., Fruitcycle, GroCycle, Jrink Juicery, Misfit Foods and ReGrained, LLC

NEWARK, Del., July 19, 2022 /PRNewswire/ -- The global Products from Food Waste market size was valued at USD 52.91 billion in 2022, and is projected to grow at a CAGR of 4.6% to reach USD 83.26 billion by 2032.

Food loss, coupled with ecological risks, is leading to a growing need for sustainability and effective food waste management facilities. The amount of food thrown away is increasing at an astounding rate each year. World Bank reports "What a Waste 2.0: A Global Snapshot of Solid Waste Management to 2050" in 2022 which anticipates more than 3 billion tons of waste to be generated annually by 2050. This signals a sharp increase from the current volume, i.e. 2 billion tons

With better standards of living, consumers are casually throwing away their unwanted goods and products in the garbage. These can be used to create products from food waste. With increased disposable incomes, the value of available food and other goods has gone down considerably. This is especially common in developing regions, where environmental consciousness is much lower than developed regions.

Affluent countries are also known to buy more food than required and then tend to waste it. This has generated considerable opportunities for the products from food waste market. Also, some consumers are becoming aware of food loss in terms of ethics and sustainability, and are coming up with household methods to consume products from food waste.

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Key Takeaways - Food Waste Management Market Study

• The food waste prevention segment is expected to rank relatively high on the attractiveness index in the global food waste management market. In 2022, the food prevention segment is anticipated to dominate the market.
• Food loss and wastage occurs at each node of the supply chain, from primary production to final end consumption.
• According to FMI survey, it is observed that around 85% to 90% of the overall food wasted in the developing economies is in the supply chain, including producers, processors, distributors, transportation & logistics, and retailer levels. In developing economies, food loss usually occurs in the earlier stages of the supply chain as a result of limited technology, inadequate infrastructural facilities, unfavorable climatic conditions, and insufficient processing and lack of marketing.
• In contrast, developed economies witness food losses and wastage to a substantial extent at the downstream stages of the supply chain.
• In 2019, food processing wastes is estimated to dominate the food waste management market by waste type.
• Rising preference for animal food production from food waste is expected gain traction in the food waste management market in the foreseeable future. Animal Feed, followed by fertilizers, are anticipated to remain the largest end-use segment globally during the forecast period.
• Increase in promotional activities and investments in renewable energy generation are leading to the growing market prospects for food waste management in North America. High demand for renewable energy and development in infrastructure encourages new players operating in recycling and processing food waste market.

Players in the food waste management market could strengthen their positions by introducing services in the rural areas where the concentration of food waste management companies is relatively low.

Cosmetic Flaws in Fresh Produce Paving the Way for Retail Sector

Not meeting the cosmetic criteria (which is the faulty appearance of a fruit) is one of the major reasons why plenty of fruits are being discarded as waste, and this has opened the gateway for the growth of the products from food waste market. USDA estimates that, on an average, supermarkets in U.S. lose nearly US$ 15 Bn annually due to cosmetic flaws in fruits and vegetables. This presents ample opportunities for the products from food waste market.

These fruits and vegetables are of excellent quality and at par with the nutritional profile of the ones that are sold in the market. Some small- and medium-sized manufacturers are initiating the processing of such products that do not meet the cosmetic criteria, fueling the growth of the products from food waste market. These products from food waste can easily benefit the health conscious consumers due to their rich nutritional profile. Moreover, consumers tend to pay less for products that are conventional, and a higher price is paid for products that have an added-value, such as organic, vegan, and also products from food waste. Hence, through products from food waste, even manufacturers earn more profits.

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Mango Peels Rapidly Becoming Potential Source of Pectin

There is a special class of pectin – LM pectin (low-methoxyl pectin) – that is preferably used in the manufacturing of low-calorie fruit jellies, which is a valuable product from food waste. The mango peel or mango waste contains a high amount of pectin (20-30% of the peel weight). If the extraction of pectin from mangoes is achieved by adding lemon juice to them, it will result in the reduction of industrial waste, and create an alternative for the production of pectin, helping in adding value to the products from food waste. Obtaining a product from food waste such as mango peels is also in tune with some of the key market trends, such as sustainable production, due to the reduction in toxic effluents.

India also happens to produce tons of products from food waste. The mango, which is a source of pectin, is one of the important produces. Yet, India relies heavily on the import of pectin. Hence, it holds immense potential for the products from food waste market.

Use of Patented Technologies in Manufacturing of Products from Food Waste Prompting High Price Points

Some of the patented technologies used to manufacture products from food waste are expensive. Middlemen in the products from food waste supply chain, such as farmers, food and beverage processors, and retailers, have expressed keen interest in recycling and manufacturing products from food waste, but might have to face the heavy burden of implementing patented and expensive technologies that are used to manufacture products from food waste. These will add a huge chunk in the cost structure during the manufacturing process of products from food waste. This aspect may become a barrier to the growth of the products from food waste market.

Also, technology is linked with quality, which is an important force in driving the growth of the products from food waste market. Products from food waste manufacturing companies that are not accredited with quality certifications may lose their consumers base, which may hamper the growth of the products from food waste market.

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The global products from food waste market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Source:   

• Mangoes
• Apples
• Grapes
• Citrus Fruits
• Carrots
• Beetroot
• Berries
• Others

By End User:

• Food Processing
• Beverage Processing
• Cosmetics & Personal Care
• Dietary Supplements & Nutraceuticals
• Animal Feed
• Others

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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Table of Content

1. Market Overview

    1.1. Market Coverage / Taxonomy

    1.2. Market Definition / Scope / Limitations

2. The Massive Impact of the Crisis

    2.1. Global Products From Food Waste Market Forecast Scenario Comparison of Annual Growth Rates for short Term (2022-2026) and Long Term (2027-2032)

        2.1.1. Optimistic Scenario

            2.1.1.1. China

            2.1.1.2. US

            2.1.1.3. India

            2.1.1.4. Euro Zone

            2.1.1.5. Asia Pacific 

            2.1.1.6. Rest of the World

        2.1.2. Likely Scenario

            2.1.2.1. China

            2.1.2.2. US

            2.1.2.3. India

            2.1.2.4. Euro Zone

            2.1.2.5. Asia Pacific 

            2.1.2.6. Rest of the World

        2.1.3. Pessimistic Scenario

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