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During the projected period (2023 to 2033), the global food waste shredder market is expected to grow at a CAGR of 6.2%. The food waste shredder market size is projected to reach a valuation of US$ 25,184 Mn by the end of 2033 from US$ 13,800 Mn in 2023.
Increased focus on food waste control and prevention has resulted in the rising adoption of severe rules, as well as grants, funding, and subsidies for the acquisition of recycling equipment. The global food waste shredder market is likely to develop at a fast pace with the implementation of stringent norms to control food waste.
Food waste as a renewable energy source is another important component in the global market for food waste shredders. Methane is produced from food waste and is utilized to power various treatment units. A large part of food waste litter is recycled and utilized to make organic fertilizers or animal feeds, which is fueling the global food waste shredder market. In addition, the development of improved waste disposal procedures, coupled with the need to develop alternative energy sources, would present the profit potential for the food waste shredder market to grow in the next ten years.
How are U.S.-based Food Waste Shredder Companies Faring?
“Initiatives to Reduce Food Waste in the U.S. to Push Sales of Organic Waste Shredders”
The amount of food thrown out by Americans each year is growing at a fast pace. According to the Environmental Protection Agency (EPA), around 63 million tons of wasted food were produced in the commercial, residential and institutional sectors in 2018, with animal feed, composting, biochemical/bio-based materials processing, land application, anaerobic digestion/co-digestion, donation, and wastewater/sewer treatment accounting for about 32%. An increasing number of attempts to reduce food waste, as well as the need to divert the waste away from landfills and incinerators, would also spur the U.S. food waste shredder market in the next ten years.
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