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Food Recycler Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 6, 2024 /EINPresswire / -- The food recycler market has experienced robust growth in recent years, expanding from $32.90 billion in 2023 to $35.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing environmental concerns, increasing popularity of organic farming and gardening, increase of urbanization and government initiatives such as smart city, increasing population, and rising concern towards efficient waste management.
What Is The Estimated Market Size Of The Global Food Recycler Market And Its Annual Growth Rate?
The food recycler market is projected to continue its strong growth, reaching $46.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing concerns about food waste, consumer demand for eco-friendly products, growing adoption of circular economy practices, government initiatives and regulations, and environmental concerns and climate change awareness.
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Growth Driver of The Food Recycler Market
The rising demand for natural and organic products is expected to propel the growth of the food recycler market going forward. Natural products contain ingredients derived from natural sources, while organic products are made from materials produced by organic agriculture and adhere to strict standards for organic production and certification. The demand for natural and organic products is due to sustainable and eco-friendly products, changing consumer preferences, and increased awareness of health and environmental issues. Food recyclers play a vital role in supporting the production and sustainability of organic products by recycling organic waste into valuable resources such as compost and renewable energy, fostering more environmentally friendly and efficient agricultural practices.
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Which Market Players Are Driving The Food Recycler Market Growth?
Key players in the food recycler market include Whirlpool Corporation, Hanmi Flexible Co Ltd., Vita-Mix Corporation, simplehuman, Joseph Joseph Ltd., Renovare Environmental Inc., MEIKO Maschinenbau GmbH & Co. KG, Ridan Composting Limited, The FoodCycler, Hungry Giant Recycling, Oklin International Ltd., Kollvik Recycling S.L., Bhor Engineering Pvt Ltd., Perfect Circle Recycling, Kompakt, Neterwala Group, Ninestars, BioHiTech Global Inc., Ecovim USA, Ecotone Renewables.
What Are The Key Trends That Influence Food Recycler Market Share Analysis?
Major companies operating in the food recycler market are focused on developing innovative products, such as countertop food recyclers, to promote sustainability and reduce environmental impact. Countertop food recyclers are compact devices designed to sit on kitchen countertops, making it convenient for households to recycle food waste. Countertop food recyclers are increasingly popular among environmentally conscious consumers and businesses seeking convenient ways to manage organic waste and promote sustainable practices at a household or small-scale level.
How Is The Global Food Recycler Market Segmented?
1) By Component: Product, Services
2) By Material Type: Steel, Stainless Steel, Carbon Steel, Plastic, Fibre, Other Material Types
3) By Price Range: Economic, Premium
4) By Distribution Channel: Original Equipment Manufacturer (OEM), Distributors, Retailers, E-commerce
5) By End User: Residential, Commercial
Geographical Insights: North America Leading The Food Recycler Market
North America was the largest region in the food recycler market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food recycler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Food Recycler Market Definition
A food recycler is a device or system designed to process food waste into a more useful or manageable form, often through composting, dehydration, or fermentation methods. These recyclers transform food scraps and leftovers into compost, fertilizer, or animal feed, reducing the volume of waste sent to landfills and contributing to environmental sustainability.
Food Recycler Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global food recycler market report covering trends, opportunities, strategies, and more
The Food Recycler Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food recycler market size, food recycler market drivers and trends, food recycler market major players, food recycler competitors' revenues, food recycler market positioning, and food recycler market growth across geographies. The food recycler market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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