Global Food Waste Recycling Machine Market Status & Revenue Forecast Recorded During Forecast Period 2018-2028
The restaurant industry is increasingly focusing on adopting sustainable operations, without compromising too much on the bottom-line.
Rockville Pike, MD -- (SBWire) -- 12/12/2018 --The food waste recycling machine market has a significant presence of small and unorganized players, with the top 5 players accounting for nearly 20% revenue share. Consolidation in specific regions remains one of the key focal points of the small players of food waste recycling market.
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New product launches and facility expansions remain the key strategies of the leading companies operating in the Food Waste Recycling Market Growth. Moreover, the prominent companies are increasingly focused on producing and marketing small capacity machines, with capacity ranges of '0-50 kg/day' and '50-100 kg/day', owing to growing demand from end-users.
Far-reaching Proactive Efforts to Cut Back on Food Waste- a Precursor to Growth
As per statistics published by the U.N. Food and Agriculture Organization (FAO), approximately 1.3 billion tons of food are wasted on an annual basis. Food waste is an alarming. Recycling massive quantities of food waste and slashing the amount sent to landfills is a challenge for governments all around the world.
For instance, in 2015, the United States Department of Agriculture (USDA) and EPA, in association with Target 12.3 of the UN Sustainable Development Goals, declared the goal of reducing food loss and waste by half by the end of 2030. In 2018, the European Parliament backed a law to reduce half of the food waste by 2030, as a part of its 'Circular Economy Package' framework consisting of recycling targets. Such initiatives are highly likely to play a vital role in pushing the global demand for food waste recycling machine by a notable margin.
Restaurant Industry: A Significant End-User
The restaurant industry is increasingly focusing on adopting sustainable operations, without compromising too much on the bottom-line. Investing in food waste recycling is aligned in the broader plans of the restaurant industry.
Restaurant chains are actively embracing the idea of installing food waste recycling machines. Food waste recycling machines are a more pragmatic solution over landfills, both economically and environmentally.
Amelioration of Equipment Efficiency with Technology - A Key to Gain Revenue Benefits
End-users are persistently showing marked preferences for advanced versions of food waste recycling machine with superior functionalities. In line with this rising proclivity, manufacturers are leveraging various technologies to craft efficient and advanced machines with enhanced reliability.
For instance, BioHiTech Global launched 'BHTG Smart Mode' in 2017 for integration into the food waste recycling equipment, which utilizes cloud computing and machine learning, to boost performance of the equipment and make the units even more cost effective. Oklin International launched a revolutionary product named 'GG300s' with an infrared camera system, which keeps the operator up-to-date on the composting process.
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Conversion of Food Waste to Fertilizer Evolves as an Eminent Trend
Conversion of food waste to fertilizer is being actively adopted as one of the effective and eco-friendly ways of food waste recycling. This trend is translating into an influx of new and efficient products in the food waste recycling machine market, with an objective of scaling up end-user convenience in food waste recycling.
For instance, Whirlpool introduced 'Zera food recycler', a device that converts food scraps into organic fertilizers in a time span of 24 hours. WISErg launched a new equipment called 'Harvester', a self-contained and easy-to-use machine that converts food waste into organic fertilizers.
Food Waste Recycling Machine Market- Competitive Landscape
The competitive landscape in the food waste recycling machine market report offers a deep-dive into the profiles of key players operating in the food waste recycling machine market. Some of the leading players included in the report on food waste recycling machine market include BioHiTech Global, Emerson Electric Co., KCS Engineering, Oklin International, Enic Co Limited, Hungry Giant Recycling, Bhor Engineering Company Limited, Weimar Biotech, IMC WasteStation, and Ridan Composting Ltd.
BioHiTech Global, a key player in the food waste recycling machine market, established an agreement for acquiring a site in the New Windsor town, New York City in the year 2017. This acquisition was aimed at building a HEBioT renewable waste facility to process nearly 130,000 tons of municipal solid waste on an annual basis.
The food waste recycling machine market has been closely analyzed across key regions including North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and MEA.
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