Vegetable Waste Products Market Outlook:
Vegetable Waste Products are obtained or produced from the vegetable leftovers or rejected supply. Vegetable waste products serve as an excellent alternative to the products which are obtained synthetically which makes them safer and environment-friendly. The market of vegetable waste products is growing exponentially as the concern towards the environment has been increasing, so as the requirement for sustainable resources. The vegetable waste products can be utilized as organic fertilizers, livestock feed, pigments, therapeutic compounds, phytochemicals, etc. Vegetable waste products market can be given a newer dimension if it could be consumable by the humans as well.
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The Increase in Importance of Sustainable Waste Management and Environmental Importance Drives the Demand for Vegetable Waste Products:
One-third percentage of food produced is wasted meant for human consumption, which sums nearly 1.3 billion tons per year. In which vegetables along with fruits make up to 45% of the losses as per the reports by the Food and Agricultural Organization of the United Nations (FAO). The increase in environmental concern, lack of proper waste management and sustainability issues could cause the rise in demand market of vegetable waste products and are anticipated to serve as drivers. Poor air quality causes an estimated death toll of 4.2 million people in 2016 as per the reports by the World Health Organization. To reduce the greenhouse gas emissions which are key causes of air pollution, Bio-ethanol, one of the vegetable waste products are obtained from carbohydrate-rich vegetables could be used as a gasoline replacement or additive since global concerns about climate change and the consequent have encouraged the use of it.
The consumers are now aware of the harmful effects of inorganic agricultural produce and are switching to organic fruits and vegetables. Which are cultivated by the usage of organic fertilizers, hence this could accelerate the market of vegetable waste products. Organic fertilizers lack the presence of heavy metals and toxic chemicals making it safer for the microbial life, plants and users. Hence making it as potential vegetable waste products. As per reports by the Food and Agricultural Organization of the United Nations (FAO), by 2050 to feed an increasing population 70 percent more meat and milk will be required.
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The increasing future demand indicates a huge demand for feed resources for the livestock. A key sustainable livestock feed development could be obtained from vegetable waste, providing optimum nutrition, helping in reduction of wastage as well as not competing with human food. This will be lead to an increase in the market of vegetable waste products market. Food additives such as pectin is a crucial vegetable waste product and can be applied in beverages, bakery, and confectionary.
One of the major challenges posed to vegetable waste products market is to invent or produce eatables that are fit for humans as well. The research and development department is currently trying to focus to obtain nutraceuticals, phytochemical and other therapeutic compounds from the vegetable leftover peels, skin, seed, etc. which could be a breakthrough vegetable waste products market.
Vegetable Waste Products Market: Regional Analysis:
India is the second largest producer of fruits and vegetables reportedly wasting about 18% of its produce – valued at Rs 13,300 crore annually, according to the Central Institute of Post-Harvest Engineering and Technology (CIPHET). The manufacturers can thus expect inclination in vegetable waste products market in the Asia-Pacific region.
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According to U.S Energy Information Administration, the gasoline consumption in the year 2018, revealed the United States to be utilizing 142.86 billion gallons in the year 2018. This indicates there could be an opportunity for an increase in demand for bioethanol which is a vegetable waste product in northern America region. The world cattle was approximately noted as 1.4 billion head in 2018, where Brazil led by 14%, followed by India 12% and China 7% by Food and Agricultural Organization of the United Nations (FAO). This shows the demand for vegetable livestock feed could be escalated at a globally. Hence increasing the vegetable waste products market.
Vegetable Waste Products Market: Key Participants
Few key market players in the vegetable waste products market are:
- Italpollina S.p.A.
- Coromandel International Limited
- ILSA S.p.A.
- Sigma AgriScience, LLC
- California Organic Fertilizers, Inc.
- BioGasol ApS
- SEKAB Biofuel Industries AB
PulpPantry a startup established in 2015, has surprisingly transformed vegetable wastes along with fruit wastes to a human consumable snack, making it a breakthrough example of vegetable waste product and generating more than $500 million in sales worldwide.
The scale of vegetable waste products manufacturers, however, needs to be expanded, globalized and optimized this would in return not only enhance the vegetable waste product market but as well open up new and unexplored segments of the market.
The research report presents a comprehensive assessment of the vegetable waste products market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as nature, flavour, and sales channel