Food Recycler Market 2021 Research By Growth Strategy and Industry Innovation Study to 2030
Food wastage is an alarming concern for all the nations of the world. On an annual basis, approximately 1.3 billion tons of food gets wasted worldwide. It is one of the extreme challenges for governments around the world to recycle this massive food waste and slashing the amount of food waste sent to landfills. Food-related businesses and even households generate large volumes of food waste daily, during the process of production, processing, and distribution.
Growing awareness among people towards the need to recycle food and the increasing environmental concerns anticipates that the global food recycler machine market will grow exponentially during the forecast period.
To manage food waste different methods are used. These include landfills, recycling, and incineration. Out of these, food recycling machines are expected to exhibit growth in the coming years. Food recyclers convert food waste into a useful product or material to achieve environmental sustainability. A typical food recycling machine has three process systems—collection, separation, and recycling.
The conventional method of composting food waste from vegetable and fruit peels is time-consuming. People don’t even consider recycling food waste and directly throw it away. The innovation of food recycling machines by home kitchen appliances industry is an excellent method to reduce food waste. These machines reduce food waste by almost 80%–90%, giving a suitable output to use as manure or fertilizer.
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COVID-19 Scenario Analysis:
COVID-19 pandemic had a severe impact on the growth of food recycler machines.
In emerging countries of the Asia-Pacific region, the food recycler machines have seen immense growth, but due to COVID-19 pandemic, there is a decrease in the sale of this device.
Lockdown is prevailing all over the globe due to which production units are also closed.
Social distancing has led to shutting down of all the restaurants, hotels, food cafes, and hostels, which were the major users of food recycler machines.
Regions such as North America and Europe were holding the largest share in using this technology, but due to the lockdown, they are also facing serious problems.
Disruption of the supply chain and halt in export–import activities has slowed the growth of the market for food recycler machines.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rapid urbanization, increase in investments in projects like smart city development, and surge in government initiatives toward green concept & sustainable environment drive the growth of the global food recycling machine market. Along with this, growing concern of people toward the environment, increase in awareness about the waste management products like food recycling machine, and inclination toward organic compost instead of fertilizers propel the growth of the global food recycler market during the forecast period.
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The major challenge faced by the global food recycling machine market is its high price. These high prices restrain the interest of middle-income consumers to buy the food recyclers, and the middle-income consumers’ segment has the largest share in the size of the population. Developing countries like India and Mexico, lack technological advancements, which restricts the manufacturing of products like food recycling machines in those countries. This also increases the logistics and import costs, thereby increasing the net price of such products in those particular countries, making them more expensive.
However, more technological advancements in food recycling machines, especially in countries like Japan, China, and many others, are likely to register new growth opportunities for the global food recycler market. In addition to this, manufacturers are introducing food recyclers with affordable price ranges, which will further boost global sales for the food recycling machines.
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Key Benefits of the Report:
This study presents the analytical depiction of the global food recycler industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global food recycler market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global food recycler market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global food recycler market analysis based on competitive intensity and how the competition will take shape in coming years.
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Key Players: BioHiTech Global, Emerson Electric Co., KCS Engineering, Oklin International, Enic Co Limited, Whirlpool Corporation (Zera), Meiko, Kompakt, Smart Cara, Food Cycler, Hungry Giant Recycling, Wastefox, Joseph Joseph, Ecovim, Bhor Engineering Company Limited, Weimar Biotech, IMC WasteStation, and Ridan Composting Ltd.
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