Study: North America to remain largest market for food waste management
Governments in many countries are now enforcing stringent laws on excessive food waste.
The global food waste management market is poised to increase at a CAGR of 6.3% during the forecast period of 2017-2027, according to the latest report published by Future Market Insights, Valley Cottage, N.Y. Factors such as rapid rate of industrialization, emergence of new markets for food waste management and greater importance to innovation and R&D for developing efficient food waste management systems are expected to make a cumulative impact on the future prospect of the market.
Moreover, governments in many countries are now enforcing stringent laws on excessive food waste. In recent years, the participation of small and medium enterprises in the global food waste management market has escalated to a significant extent, owing to increasing demand for streamlining food waste management procedures.