Top Insights On the Latest Update On Food Waste Management Market

The global food waste management market size is poised to grow by USD 8.07 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of more than 4% during the forecast period.

The market is driven by the conversion of food waste into bio-based products and organic fertilizers. In addition, the increasing implementation of regulations and favorable prices to further boost the growth of the food waste management market.

Food waste has become a major concern across the world, as it is being produced in large quantity and posing a threat to the environment. The production of bio-based products and organic fertilizers from food waste are a feasible solution for food waste management. Thus, the conversion of food waste into bio-based and organic fertilizers has become crucial to achieve environmental sustainability, which is expected to fuel the growth of the food waste management market.

Several regulations are being imposed to manage food waste efficiently. 

For instance, in April 2019, the FDA, USDA, and the US EPA released a federal interagency strategy to address food waste. This strategy focuses on key priority areas such as enhancing inter-agency coordination, increasing consumer education and outreach efforts, and clarifying and communicating information on food date labels, food safety, and food donations. Such implementation of regulations will drive growth of the food waste management market.

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