The Asia Pacific Food Waste Management Market would witness market growth of 8.0% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Food Waste Management Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5,619.2 million by 2031. The Japan market is expected to witness a CAGR of 7.3% during (2024 - 2031). Additionally, The India market would register a CAGR of 8.7% during (2024 - 2031).
Food redistribution involves collecting surplus food from retailers, manufacturers, and consumers and distributing it to charitable organizations or needy individuals. This practice plays a crucial role in alleviating food insecurity while preventing edible food from being wasted. Organizations such as food banks are central to these efforts.
Adopting food waste management practices has gained momentum across various sectors, with governments, businesses, and consumers all recognizing the importance of reducing food waste. Corporations, especially those in the food and beverage industry, are increasingly adopting food waste management practices as part of their sustainability goals. Companies like Walmart, Nestlé, and Unilever have committed to reducing food waste within their operations and supply chains. Many large-scale food producers and retailers have implemented measures such as donating unsold food, improving packaging, and using technology to forecast demand more accurately.
India’s hotel industry contributes to the growing demand for food waste management services. The USDA reports that the sector’s value was estimated at $23.50 billion in 2023 and is projected to reach $29.61 billion by 2028, with a compound annual growth rate (CAGR) of 4.73%. This growth is fuelled by a surge in tourism, urbanization, and changing consumer lifestyles. However, it also significantly increases food waste generation, particularly in luxury and large-scale hotel operations. Hotels are investing in waste reduction strategies such as food donation programs, composting, and on-site organic waste treatment systems to combat this issue. Government incentives to reduce food waste in the hospitality sector further encourage businesses to adopt sustainable practices, boosting market in India. Therefore, rapid industrial growth and an expanding hotel industry fuel the need for efficient food waste management systems.
Free Valuable Insights: The Global Food Waste Management Market is Predict to reach USD 78.40 Billion by 2031, at a CAGR of 7.2%
Based on Source, the market is segmented into Residential, Commercial, and Industrial. Based on Process, the market is segmented into Anaerobic Digestion, Aerobic Digestion, Incineration/Combustion, and Other Processes. Based on Application, the market is segmented into Animal Feed, Fertilizers, Biofuel, and Power Generation. Based on Waste Type, the market is segmented into Fruits & Vegetables, Cereals, Oilseeds & Pulses, Non Veg Food, Dairy Products, and Other Types. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Source
By Process
By Application
By Waste Type
By Country
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