(MENAFN- America News Hour) Research Nester has released a report titled
“united states (u.s.) and canada smart food bin market : Global Demand Analysis & Opportunity Outlook 2031”
which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
30% of all food worth USD 48.3 Billion is thrown away each year in the United States according to the statistics by the United Nations Environment Programme (UNEP).
The statistics portray the increasing concern for food wastes in the United States and Canada, which is driving the need amongst the government of nations to increase its focus on lowering the wastes. Backed by the rising awareness for the ill effects of food wastes, the government of these nations have framed several initiatives, which is one of the major factors anticipated to drive the demand for
smart food bins , and in turn, contribute to the growth of the United States (U.S.) and Canada smart food bin market.
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The United States (U.S.) and Canada smart food bin market is anticipated to grow with a CAGR of 25.7% and 26.6% respectively over the forecast period, i.e., 2022 – 2031. The market is estimated to garner a revenue of USD 309417.0 Thousand and USD 70235.9 Thousand respectively by the end of 2031. Additionally, in the year 2021, the market in both these nations reached a revenue of USD 33409.0 Thousand and USD 7086.7 Thousand respectively.
The United States (U.S.) and Canada smart food bin market is segmented by food waste into cooked left-overs, stale food, blemished fruits & vegetables, and others, out of which, the cooked-left overs segment is anticipated to touch the largest revenue of USD 114507.7 Thousand and USD 24864.9 Thousand respectively by the end of 2031 in the United States and Canada. Moreover, the segment in the market in both these regions generated a revenue of USD 12762.1 Thousand and USD 2593.7 Thousand respectively in the year 2021.
By region, the United States (U.S.) smart food bin market is segmented into South U.S., West U.S., Midwest U.S., and North East U.S. The market in South U.S., out of the market in all the other regions, is anticipated to garner the largest revenue of USD 130264.8 Thousand by the end of 2031. Moreover, the market in the region generated a revenue of USD 14549.6 Thousand in the year 2021. Further, the Canada smart food bin market is segmented into Atlantic Region, Central Region, Prairie Provinces, West Coast, and North Region. The market in Central Canada, out of the market in all the other regions, is anticipated to display the largest revenue of USD 42570.0 Thousand by the end of 2031. Moreover, the market in the region generated a revenue of USD 4397.3 Thousand in the year 2021.
However, the higher cost of the product, along with the lack of awareness regarding the availability of the product are predicted to hinder the growth of the market in the coming years.
This report also provides the existing competitive scenario of some of the key players of the United States (U.S.) and Canada smart food bin market, which includes company profiling of Leanpath, Inc., Winnow Solutions Limited, Enevo Oy., Wybone Ltd., LightBlue Environmental Consulting Co., Ltd., KITRO SA, Guardforce Limited, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled
“United States (U.S.) and Canada Smart Food Bin Market: Global Demand Analysis & Opportunity Outlook 2031” , analyses the overall United States (U.S.) and Canada smart food bin industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the United States (U.S.) and Canada smart food bin market in the near future.
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