The global food recycler market is projected to reach a valuation of USD 68.2 billion by 2032, growing at a moderate CAGR of 5.6% from 2022 to 2032. Valued at USD 37.5 billion in 2021, the market increased to USD 39.6 billion in 2022. This growth is driven by the rising demand for technologies that facilitate the recycling of organic waste. A substantial portion of market revenue comes from hotels, restaurants, and cafes that generate large volumes of food waste.
The growing concern over escalating the wastage of food has opened up avenues of growth for the food recycler market. There’s been a surge in demand for intelligent recycling technologies as the recycling of organic waste substances has emerged as a challenge in numerous economies.
Consequently, the market for food recycling services is expected to experience steady growth over the next few years. Food recyclers have become essential in commercial spaces, particularly for converting food waste into fertilizer or manure. Moreover, the rising popularity of kitchen gardens, especially in large cities, has further enhanced market prospects for food recyclers.
As environmental concerns grow and awareness about the benefits of using organic compost over chemical fertilizers increases, the demand for food recyclers is anticipated to rise. These recyclers are particularly valuable in hotels, cafes, and restaurants, where large volumes of food waste are generated. This sector presents significant growth opportunities for the market through strategic pricing and partnerships. Additionally, rapid urbanization, the rise of smart city projects in developing countries, and various supportive government initiatives promoting sustainability are expected to positively influence the food recycler market during the forecast period.
Key Takeaways:
- The high costs of food recyclers are one of the major factors inhibiting the growth of the market during the assessment period.
- Greater technological progress in terms of food recycling and composting techniques propel North American and European markets to account for a major portion of the global food recycler market.
- A rise in the number of market manufacturers is driving the growth of the Asia Pacific’s food recycler market.
- Industries that produce different types of kitchen appliances have branched out to produce innovative food recyclers which will likely benefit the overall growth of the market.
Competitive Landscape
Whirlpool’s, Food Cycle Science, Wastefox, Joseph Joseph, Nine Stars Group (USA) Inc., Simplehuman, Smart Cara, Food Cycler, and Mares Group among others are some of the major players in the food recycler market profiled in the full version of the report.
Leading market participants are concentrating on product development and innovation along with launching new, efficient products. These firms also employ various organic and inorganic business strategies.
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Key Segments
By Component:
- Product
- Services
By Price Range:
- Economic
- Premium
By Distribution Channel:
- OEM
- Distributors
- Retailers
- E-commerce
By Material Type:
- Steel
- Stainless Steel
- Carbon Steel
- Plastic
- Fibre
- Others
By End Use:
- Residential
- Commercial
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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