Food Waste Management: A Booming Market Worth USD 121.8 Billion by 2033

Monday, 2 September 2024, 00:37

Food waste management is becoming increasingly vital, as the sector is expected to surpass USD 121.8 billion by 2033, growing at a CAGR of 5.7%. This explosive growth reflects heightened awareness and action towards effective food waste solutions globally. The push for sustainability is reshaping how food waste is handled.

Fmiblog — Food Waste Management: A Booming Market Worth USD 121.8 Billion by 2033

Growing Concerns on Food Waste Management

Food waste management has become a pressing issue, with businesses and governments striving to reduce the staggering amounts of food that end up in landfills. According to recent data, the food waste management sector is set to achieve a market value of USD 70.0 billion by 2023, a significant leap as we move towards 2033.

Market Growth Factors

Increased awareness about sustainability
Government regulations promoting waste reduction
Technological advancements in waste management processes

Moreover, the food waste management industry is gearing up for robust growth as consumer habits change and recycling initiatives gain traction.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.