Global sales of food waste recycling machines are likely to reach 10,890 units in 2018, up from 10,356 units in 2017, a study by Fact.MR finds.
Demand for food waste recycling machines is driven by challenges associated with traditional composting methods, including minimizing disposal costs and curbing noxious emissions.
Sales of food waste recycling machine have remained concentrated in the restaurants industry. Sales are also complemented by growing adoption in hotels and supermarkets, according to the study.
North America remains the largest food waste recycling market, with volume sales set to surpass 3,000 units in 2018. Attempts to foster recycling activities have taken off at the federal level in the U.S. and Canada, in the wake of a huge ratio of food wastage per capita. APEJ and Europe are likely to be the second and third most attractive market, owing to sweeping concerns for efficient food waste management, estimates the research study.
The food waste recycling machine market has a wide-spread presence of small and unorganized players, with consolidation of regional presence being their key strategic lever. The top 5 players hold around 20% of the revenue share and are focused on commercialization of small capacity machines, especially 0-50 kg/day’ and ’50-100 kg/day’. These players are focusing on new product development and facility expansion in a bid to retain their buoyancy in the market space, finds the report.
The manufacturers of food waste recycling machine are focusing on fostering their foothold with value-based offerings, unveils Fact.MR study. For instance, Whirlpool introduced ‘Zera Food Recycler’, which converts the food scraps into organic fertilizers in a time span of 24 hours. This offering has been introduced with the pervading trend of converting food waste into reusable commodities.
The demand for food waste recycling machine in emerging regions is growing at a healthy rate; however, bulk of the sales remain concentrated in China and India. The cost-sensitivity of end-users in emerging regions of Africa and Latin America, combined with lax regulations on food recycling, have meant that sales have remain limited in these markets.
SOURCE; Rohit Bhisey, Fact.MR, 11140 Rockville Pike, Suite 400, Rockville, Md. 20852