The food recycler market is anticipated to record a CAGR of 5.6% during the forecast period. It is expected the market value is likely to go up from USD 37.5 Billion in 2021 to reach a valuation of USD 68.2 Billion by 2032.
| Report Attributes | Details |
|---|---|
| Food Recycler Market Estimated Base Year Value (2021) | 37.5 Billion |
| Food Recycler Market Value in 2022 | 39.6 Billion |
| Food Recycler Market CAGR 2022 to 2032 | 5.6% |
| Anticipated Food Recycler Market Value (2032) | 68.2 Billion |
The alarming worldwide concern over wastage of food has created a huge gap in the market for smart technologies that can mitigate this situation. Recycling of waste organic substances has emerged as a major challenge in several economies. This problem has created a huge demand for food recycler services in different verticals.
Industries manufacturing different types of home kitchen appliances have come up with much modern equipment in the recent past, including the innovation in the food composting technique.
Food recycler is such a product that is used in commercial spaces as well to recycle the waste food by making fertilizer or manure out of it. Rapid urbanization has resulted in the establishment of kitchen gardens that can be regarded as a major attraction for the sales of food recycler products and services in large cities.
The traditional method of composting food waste and leftovers has created this technique, an attractive solution that can be observed by the higher demand for food recycler components in the past decade.
Moreover, increasing concern for the green environment and increasing awareness towards the use of organic compost instead of fertilizers is expected to witness significant growth in the sales of food recycler components during the forecast period.
A major share of revenue generated by sales of food recycler products is obtained from the hotels, restaurants and cafes that generate waste in bulk. Proper targeting of this sector by pricing and agreements can prove to be a major driver of the demand for food recycler products and services.
Major players in the food recycler market are also engaged in R&D activities food new food recycling and composting technologies. This trend is positively influencing the demand for food recycler products in new markets.
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
Major Drivers for Global Food Recycler Market
Increasing urbanization, smart city projects in developing countries and government initiatives such as the go green concept is expected to positively influence the demand for food recycler components across the globe.
Increasing people's awareness of the food recycling process and devices and increasing concern for the environment is expected to increase the sales of food recycler components in the near future.
Opportunities for the Global Food Recycler Market
Technological advancements pertaining to food recycling and composition techniques in countries such as China, Japan and others are expected to register new growth opportunities for sales of food recycler components during the forecast period.
Moreover, the introduction of food recyclers with affordable prices by manufacturers in the near future is expected to fuel the demand for food recycler market share during the forecast period.
Major Challenges for Food Recycler Market
The high price of food recyclers is one of the main reasons limiting the sales of food recycler components. Generally, the middle-income population is showing a lack of interest in purchasing food recycles due to its high costs.
Higher investment in developing cold chain facilities in different parts of the world has some potential to decrease the pace of growth in food recycler market share in some economies.
North America and Europe are expected to hold a significant amount of food recycler market share in the global market due to technological advancements pertaining to food recycling and composting techniques.
An increasing number of manufacturers of food recyclers in the Asia Pacific region is expected to fuel the sales of food recycler in the near future in the region, in terms of volume. The demand for food recycler components in Latin America market is expected to witness moderate growth in the near future due to increasing disposable income in the region.
Moreover, the lack of technological advancement (pertaining to food recycling devices) in developing countries such as India, Mexico, and others restrict sales of food recycler in the country itself. Thus higher import and logistics cost decreases the food recycler market share in such countries.
The Middle East and Africa are witnessing a slow growth of the food recycler market. However, increasing public concern for the environment and increasing urbanization in the region are expected to positively grow the demand for food recycler components in the Latin America market during the forecast period.
Some of the key players in the global food recycler market includes Whirlpool's, Food Cycle Science, Wastefox, Joseph Joseph, Nine Stars Group (USA) Inc., Simplehuman, Smart Cara, Food Cycler, and Mares Group.
Major Developments in the Food Recycler Market
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.6% from 2022 to 2032 |
| Base Year of Estimation | 2021 |
| Historical Data | 2014 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Component, Price Range, Distribution Channel, Material Type, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Whirlpool's; Food Cycle Science; Wastefox; Joseph Joseph; Nine Stars Group (USA) Inc.; Simplehuman; Smart Cara; Food Cycler; Mares Group |
| Customization scope | Available Upon Request |
| Pricing and Purchase Option | Avail Customized purchase options to meet your exact research needs. |
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
What is the Growth Outlook for the Food Recycler Market?
Who are the Prominent Players in the Food Recycler Market that will drive the Global Market during the Forecast Years?
As per the analysis, the food recycler market share is likely to be USD 68.2 Bn by 2032.
Explore Consumer Services Insights
View Reports
Food Recycler Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
