(EMAILWIRE.COM, March 07, 2022 ) Products Generated from the Food Waste market size is estimated to reach $61.8 billion by 2026, growing at a CAGR of 5.2% during the forecast period 2021-2026. The process of food waste generation takes place throughout the supply chain, during harvesting, processing, retail, and consumption. The waste created during these processes is collected and converted into substances beneficial for commercial use. The organic waste materials are converted into valuable products mainly via aerobic digestion, anaerobic digestion, combustion, and other physical, biomaterials, chemical, or bio-degradation process. The stringent waste production and disposal regulations being imposed by various governments are anticipated to drive the market during the forecast period. However, the high investments required for the infrastructure vital for food waste recycling is anticipated to limit the growth of the Products Generated from the Food Waste industry.
Products Generated from Food Waste Market Segment Analysis By Source Type
Based on the Source, the market is further segmented into Mangoes, Apples, Grapes, Carrots, Berries, and Others. The Mango segment was responsible for the largest share of the Products Generated from the Food Waste market and is estimated to grow with the fastest CAGR of 5.7% during the forecast period. The processing of Mangoes produces a significant number of by-products such as peel and seeds. Around 60% of the fruit by weight is discarded in the process. The rapid growth of this segment is attributed to the increase in demand for food waste recycling in developing nations owing to an increase in disposable income and awareness. India, China, Thailand, Mexico, Indonesia, and Pakistan are the primary mango-producing countries at the global level. Grape is another segment that is estimated to witness a significant rise during the forecast period 2021-2026 owing to the presence of stringent laws and regulations regarding food waste disposal in the manufacturing countries such as China, the U.S., Italy, and France. More than 45% of the grapes by weight becomes waste during the process.
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Products Generated from Food Waste Market Segment Analysis By End User
By end-user, the Products Generated from Food Waste market is segmented into Food Processing, Beverage Processing, Animal Feed, Cosmetics and Personal Care, Textiles, Fertilizers, Power Generation, and Others. Among them, Food processing has the largest market share owing to the growth in investment by major companies and the prevalence of a more sedentary lifestyle by the population, leading to an increase in processed foods demand. The cosmetics and Personal Care segment is estimated to register the fastest growth during the forecast period 2021-2026 at a CAGR of 5.5%. The rapid rise in Research and Development, a shift in demand towards natural cosmetic products, and a high frequency of new product launches are the primary factors that drive the segments growth.
Products Generated from Food Waste Market Segment Analysis By Geography
Geographically, the Products Generated from the Food Waste market is further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of World. The North American market held the largest share in 2020 with 29% and is anticipated to remain to be the leader during the forecast period 2021-2026. This can be attributed to factors such as the prevalence of a sedentary lifestyle, increase in demand for natural products, high research and development investment, and strict waste disposable regulations in the region. The fruits and vegetable wastage per capita in North America is around 96-115 Kg each year compared to only 6-11 Kg in Sub-Saharan Africa or South Asia. The Asia Pacific region is projected to be the fastest-growing segment during the forecast period owing to the growth in disposable income, awareness, and government initiatives in food waste recycling processes.
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Products Generated from Food Waste Market Drivers
Increase in Government Initiatives in Food Waste Disposal are Anticipated to Drive Market Growth.
The increase in government initiatives and investment in the development of food waste collection, separation, and recycling processes in both developed and major developing regions have led to a growth of small and medium-scale food waste recycling companies. The development of the food waste management system in such regions is anticipated to reduce the dumping of the products in landfills and increase recycling.
Growth in Research and Innovation in Food Waste Recycling is Anticipated to Generate Demand.
Government and private organizations have increased their investment in developing advanced food waste processing techniques, causing a rise in the applications for such materials. For instance, innovation in food waste processing has resulted in the development of techniques that can help create biomaterials necessary for patients with heart conditions, artificial joints, cranial implants, and skin grafts. Biomaterials necessary for artificial bone implants are derived from eggshells.
Products Generated from Food Waste Market Challenges
Lack of Food Disposal Regulations in Some Developing Regions is anticipated to Restrict Growth.
The low investment levels in the supply chain system necessary for food waste recycling and the absence of proper regulatory systems is a major challenge for the market. This is highly prevalent in Brazil and other Central American countries which causes the food waste generated in the region to be disposed of in large landfills or water bodies rather than be recycled into useful products.
High Antinutritional Factors in Products from Food Waste Projected to Hamper Demand.
The food waste by-products are usually high in nutritional value. However, the use of such products is restricted in the food industry owing to the presence of antinutritional factors such as condensed tannins, saponins, trypsin inhibitors, phytates, and isoflavonoids. These Antinutritional Factors decrease the nutritional value of the product by interfering with the digestibility and bioavailability of proteins, carbohydrates, and minerals. They can also often be harmful for consumption. This acts as a major challenge for the Products Generated from Food Waste Market.
Products Generated from Food Waste Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Products Generated from Food Waste Market. The top 10 players in the market are:
Bio-bean Ltd
Aeropowder
Fruitcycle
Grocycle
Circular Systems S.P.C
ReGrained LLC
Misfit Foods
Snact Ltd
Jrink Juicery
Rise Products
Partnerships/Product Launches:
In March 2020, ReGrained LLC the launched worlds first upcycled puffs online. The puffs are powered by SuperGrain+, the companys flagship upcycled product that is created using their patented process to transform spent brewers grain into a nutritious, versatile, and functional ingredient.
In July 2021, Bio-bean Ltd launched Incaf, a sustainable raw material created from spent coffee grounds. The product can be used in various applications such as in petrochemicals, cosmetics, skincare, textile, and so on.
In December 2020, Circular Systems S.P.C launched Agraloop BioFibre textiles made from food crop waste.
Key Takeaways
The Products Generated from the Food Waste market is dominated by North America. It is followed by Europe and the Asia Pacific. Growth in the North American segment is owing to the increase in investments by the major companies in the region.
The rise in Research and Development is predicted to drive the market during the forecast period. However, lack of awareness and low implementation of modern and more efficient technologies in developing regions is a major aspect that can hamper the growth of the Products Generated from the Food Waste market.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Products Generated from the Food Waste Market report.
Relevant Titles:
A. Food Waste Management Market
https://www.industryarc.com/Report/15482/food-waste-management-market.html
B. Food Certification Market
https://www.industryarc.com/Report/15481/food-certification-market.html
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