ROCKVILLE, Maryland – Theis experiencing promising growth, driven by proactive initiatives for fostering environmental sustainability. Global sales of food waste recycling machines are likely to reach 10,890 units in 2018, up from 10,356 units in 2017.
Factors ranging from the launch of legislation around food waste to the general trend towards recycling activities are anticipated to underpin growth potential of the market.
A recent study by Fact.MR shows that the demand for food waste recycling machine has taken off in recent years, as a result of challenges associated with traditional composting methods. The need to minimize disposal costs and curb noxious emissions have been identified as key drivers.
The shift from landfills to waste-to-energy plants is also evolving as a waste management trend, which is creating opportunities for food waste recycling machine manufacturers.
Sales of food waste recycling machine have remained concentrated in the restaurant industry, with volume sales likely to exceed 2,500 units. Sales are also complemented by growing adoption in hotels and supermarkets, according to the study.
North America maintains its lead as 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 response to the 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.
The food waste recycling machine market is dominated by small and unorganized players, with consolidation of regional presence being their key strategic lever. The top five players hold around 20 per cent 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, the report found.
Manufacturers are focusing on fostering their foothold with value-based offerings. For instance, Whirlpool introduced ‘Zera Food Recycler’, which converts food scraps into organic fertilizers in 24 hours.
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.