Food Waste Management Market Size, Share, Growth Analysis, By Waste Type(Cereals, Dairy Products, Fruit & Vegetable, Meat), By Process(Aerobic Digestion (Composting), Anaerobic Digestion, Incineration/Combustion, Others), By Application(Feed, Fertilizers, Biofuel, Power Generation), By End-User(Residential, Industrial), By Region - Industry Forecast 2024-2031

Food Waste Management Market size was valued at USD 66.22 billion in 2019 and is poised to grow from USD 69.8 billion in 2023 to USD 106.31 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

The global concern about food waste is fueling the growth of the Food Waste Management market. Expansion is expected to be aided by rising consumer demand for novel food products and exotic foods such as tropical fruits, fine coffee, and imported goods. The increase in global food waste, the desire to reduce emissions of greenhouse gases and the rising use of biowaste for the manufacturing process of feed and biofertilizers are all contributing factors to the market's expansion. The fruits and vegetables sector is expected to dominate the global market over the forecast period due to the large amount of waste produced by fruits, vegetables, roots, and tubers.

Food waste has increased as the population has grown, as has the rate of manufacturing and consumption. Furthermore, changes in customer preferences and tastes have fueled market growth. The COVID-19 pandemic has continued to wreak havoc around the world, posing major challenges to nutrition and food security in countries such as South Africa, the United Arab Emirates, and Saudi Arabia. Food waste increased significantly as a result of supply chain disruptions caused by roadblocks, transportation restrictions, and quarantine measures, especially for perishable agricultural items such as fruits, vegetables, fish, meat, and dairy products, driving future growth.

According to the FAO, while approximately 1.4 billion tonnes of food are wasted globally each year, the United States discards between 40 and 80 billion pounds of food each year. According to the United States Department of Agriculture, the amount of food wasted in the United States is equivalent to 219 pounds of waste per person, which will benefit the food waste management market.

The availability of health-conscious consumers in the United States is likely to increase the consumption of vegetables and fruits in the country, resulting in more food waste. Furthermore, the government's increased emphasis on educating the public on proper storage methods for fruits and vegetables to protect rotting is expected to reduce the amount of waste generated.

US Food Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.