India Food Waste Disposal System Market Size Set to Expand at Significant CAGR of 5.9% During 2023–2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India food waste disposal system market size to grow at a CAGR of 5.91% during the forecast period between 2023 and 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India food waste disposal system market size to grow at a CAGR of 5.91% during the forecast period between 2023 and 2029. The countrywide rapid expansion of the food and beverages industry is principally responsible for the market's growth. Due to the increasing consumption of prepared and packaged foods, restaurants, hotels, and fast-food establishments produce significant volumes of food waste. For effective collection and separation of food waste at the level form essential, this has made the use of food waste disposal systems vital. Population growth and rising consumer buying power are also expected to support the market expansion.
India Food Waste Disposal System Market – Overview
Food waste is defined as food that has been served but not consumed, food that has gone bad, peels and rinds deemed unfit for human consumption, and is fed to animals, composted, anaerobically digested, landfilled, or burned with energy recovery. It is difficult to recycle due to its salt, high sodium content, and moisture content when collected. Food waste is becoming a larger component of municipal waste streams. A solid food waste management strategy must be developed to ensure sustainable and environmentally friendly disposal. Anaerobic digestion and composting are the two most popular methods for recycling food waste. Composting uses oxygen and naturally occurring bacteria to break down biodegradable trash in an enclosed vessel or underpass. It also provides an alternative to dumping food waste.
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Impact of COVID-19 on India Food Waste Disposal System Market
Outbreak of COVID-19 had a favorable effect on the market for food waste management. The pandemic had a profound effect on consumers' purchasing and consumption patterns. Due to increased food hoarding by customers across the nation owing to lockdowns and stringent laws, there has been a surge in food waste, which has created demand for food waste management equipment and services.
India Food Waste Disposal System Market - By Source of Food Waste
India food waste disposal system market is segmented into Household, Retail, Manufacturing, Foodservice, and others (agriculture and schools). The market is dominated by the household segment. Residential food waste is expected to increase as the population grows and lifestyles change. A variety of factors contribute to food waste in the home, including poor food management, excessive food preparation, excessive shopping, poor cooking skills, and insufficient storage.
Competitive Landscape
India food waste disposal system market is highly competitive. Major players in the market include Eco Wise Waste Management, Daily Dump, Earth Sense Recycle, Vaniyambadi Green, Dhruvansh Waste Management, Organic Recycling Systems, Ramky Enviro Engineers, Sujala Solutions, Agro Gleaner, Susthiti, Banyan Nation, and Hasiru Dala Innovations. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the India food waste disposal system market.
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