Technology

The food waste management market is projected to grow by USD 9.13 Billion from 2024-2028, with AI reshaping the landscape and rising carbon emission concerns driving revenue – Technavio

Published

4 hours ago

September 24, 2024

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global food waste management market size is estimated to grow by USD 9.13 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.25% during the forecast period. Food waste management gaining traction owing to growing concerns of carbon emissions is driving market growth, with a trend towards rising number of startups However, increasing risks of fire accidents poses a challenge – Key market players include Biffa Plc, Casella Waste Systems Inc., China Everbright Environment Group Ltd., Cleanaway Waste Management Ltd., Covanta Holding Corp., FCC SA, GFL Environmental Inc., Hitachi Zosen Corp., Interstate Waste Services Inc., PHENIX SAS, PreZero Stiftung and Co. KG, Recology Inc., Republic Services Inc., RETHMANN SE and Co. KG, US Foods Holding Corp., Van Dyk Recycling Solutions, Veolia Environnement SA, Waste Connections Inc., Waste Management Inc., and Winnow Solutions Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Method (Landfill, Recycling, and Incineration), Application (Feed, Fertilizers, Biofuel, and Power generation), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Biffa Plc, Casella Waste Systems Inc., China Everbright Environment Group Ltd., Cleanaway Waste Management Ltd., Covanta Holding Corp., FCC SA, GFL Environmental Inc., Hitachi Zosen Corp., Interstate Waste Services Inc., PHENIX SAS, PreZero Stiftung and Co. KG, Recology Inc., Republic Services Inc., RETHMANN SE and Co. KG, US Foods Holding Corp., Van Dyk Recycling Solutions, Veolia Environnement SA, Waste Connections Inc., Waste Management Inc., and Winnow Solutions Ltd.

Key Market Trends Fueling Growth

The food waste management market is gaining significant attention due to the large volumes of food being wasted daily worldwide. Efficient food waste management is essential to mitigate negative environmental and health consequences. New companies, such as PHENIX SAS and World Waters LLC, are innovating in this space. PHENIX finds value in unsold food products by offering promotions, creating animal feed, donating to charities, and recycling. World Waters utilizes unattractive watermelons for cold-pressed juice production. Replate, a social venture in the US, redistributes excess food from businesses to underprivileged communities and provides monthly impact metrics. The growing number of startups will fuel the food waste management market’s growth, offering solutions for reducing waste and addressing food insecurity.

The Food Waste Management market is on the rise, driven by health-conscious consumers who prioritize reducing food waste. Food processing facilities, merchants, wholesalers, and food service providers are key players in this market. Waste types include cereals and organic waste from residential, institutional, and industrial sources. Collection segments use various methods like composting, landfills, incineration, and open dumping. Biofuel from food waste is a growing trend, with applications in renewable energy. Favorable government regulations, such as the UK’s Zero Hunger Challenge, encourage food waste reduction. Spoilage of food, imported products, and exotic food items contribute to wastage. Large businesses, fast-food cafes, and hotel chains are significant contributors. Food rescue organizations help address hunger crises. Technologies like anaerobic digestion, gasification, and aerobic digestion are cutting-edge solutions for food waste management. Food waste can be transformed into animal feed, fertilizer, and biogas. The market also includes services like composting and recycling. Food waste reduction is crucial to address the environmental impact and potential economic benefits.

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

Landfills serve as disposal sites for non-hazardous household, commercial, and industrial solid waste and sludge. However, food waste in landfills generates methane, a potent greenhouse gas. Methane, which forms when food waste decomposes in the absence of oxygen, can ignite and cause dangerous fires. For instance, a food waste landfill in Chandigarar, India, has experienced 486 fire incidents in the last 15 years. These fires pose a risk to human life and have increased concerns over food waste accumulation in landfills. Consequently, the potential for food waste-related fire accidents is hindering the expansion of the global food waste management market during the forecast period.The Food Waste Management market faces several challenges in reducing the volume of food waste. Key issues include incineration and open dumping, which have environmental implications. Composting, recycling, and biogas are preferred solutions for managing organic waste, contributing to renewable energy. Favorable government regulations and initiatives, such as the UK government’s Zero Hunger Challenge, are driving the market. Spoilage of food due to imported products, exotic food items, and large businesses contribute significantly to food waste. Hunger crises and food rescue organizations are addressing this issue. Urbanization increases the generation of organic waste, requiring advanced technologies like gasification and anaerobic digestion. Fast-food cafes, hotel chains, and the dietary supply chain are significant contributors. Cutting-edge technology and partnerships with government agencies, municipality garbage collectors, and waste management businesses are crucial for effective food waste management. Disease transfer and supply chain interruptions pose risks, requiring stringent safety measures.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This food waste management market report extensively covers market segmentation by

Method 1.1 Landfill1.2 Recycling1.3 IncinerationApplication 2.1 Feed2.2 Fertilizers2.3 Biofuel2.4 Power generationGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Landfill- The food waste management market is witnessing an increasing trend towards landfill disposal due to the efficient management of Landfill Gas (LFG) produced. Landfills, as the preferred method for disposing of food waste in many parts of the world, particularly developing countries, are favored due to their cost-effectiveness compared to alternative methods like incineration. Methane, a significant component of LFG, is a potent greenhouse gas that contributes to climatic degradation if released into the atmosphere. However, it can be harnessed as an energy resource through efficient collection and treatment. The global demand for LFG is escalating due to its economic benefits, leading several governments to promote its use for electricity generation. The EPA’s Global Methane Initiatives International Best Practices Guide for LFG Energy Projects outlines the process for developing LFG to energy projects and addresses technological, economic, and political considerations. As of 2022, over 2000 landfills in the US have the potential to convert methane into an energy resource cost-effectively. New and existing landfills are undergoing projects to utilize LFG for fuel in turbines or co-generators. However, the limited availability of land in some countries, such as Japan, poses a challenge for the growth of the landfill segment. In countries like India, the exhaustion of capacity in existing landfills necessitates the exploration of alternative food waste disposal methods. Despite these challenges, the substantial volume of food waste generation and the relatively low costs of landfilling compared to other disposal methods will drive the expansion of the landfill segment in the global food waste management market.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

The Food Waste Management Market is experiencing significant growth due to the increasing awareness among health-conscious consumers about the importance of reducing food waste. Food processing facilities, merchants, wholesalers, and food service providers are recognizing the need to implement effective food waste management strategies. The market covers various waste types, including cereals, and sources such as residential, institutional, and industrial segments. Service types include collection, landfills, incineration, composting, recycling, and biogas production. The composting process is gaining popularity as a sustainable solution for managing food waste, with applications in renewable energy generation. Favorable government regulations and the negative environmental impact of spoilage of food and imported products are driving the market’s growth. Food waste management solutions include the use of biofuel, which can be produced from food waste through anaerobic digestion. The market is segmented by waste type, including cereals, fruits and vegetables, meat and poultry, and dairy products. The institutional sector, including schools and hospitals, and the industrial segment, including food processing and manufacturing industries, are significant contributors to food waste. The residential source segment is also a significant contributor due to household food waste.

Market Research Overview

The Food Waste Management market is a growing industry driven by the increasing awareness of health-conscious consumers and the need to reduce environmental impact. Food processing facilities, merchants, wholesalers, food service providers, and large businesses generate significant amounts of food waste. The composting process is a popular solution for managing organic waste, with applications in renewable energy generation through biogas production. Waste type insights include cereals, residential sources, the institutional sector, and the industrial segment. Service types include collection, landfills, incineration, open dumping, composting, recycling, and biogas production. Applications of food waste management include renewable energy, animal feed, fertilizer, and disease transfer prevention. Factors driving the market include spoilage of food, imported products, exotic food items, favorable government regulation, and supply chain interruptions. Food Rescue Organizations play a crucial role in reducing food waste and addressing hunger crises. Urbanization and the use of cutting-edge technology, such as gasification technology and anaerobic digestion, are also shaping the industry. Food waste sources include fast-food cafes, hotel chains, and the dietary supply chain. Government agencies and municipality garbage collectors are key stakeholders in the waste management business. Disease transfer and food safety concerns are important considerations in food waste management.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

MethodLandfillRecyclingIncinerationApplicationFeedFertilizersBiofuelPower GenerationGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-food-waste-management-market-is-projected-to-grow-by-usd-9-13-billion-from-2024-2028–with-ai-reshaping-the-landscape-and-rising-carbon-emission-concerns-driving-revenue—technavio-302256023.html

SOURCE Technavio

Technology

Nuvve Updates Shareholders on Compliance Measures

Published

10 mins ago

September 25, 2024

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ — Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq’s Bid Price Rule.

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting “no loan” status.

For shareholder letter: https://nuvve.com/shareholder-letter/

For more information, contact investors@nuvve.com.

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/nuvve-updates-shareholders-on-compliance-measures-302257834.html

SOURCE Nuvve Holding Corp.

Technology

Wire and tube industry expos to spark international trade in Shanghai

Published

10 mins ago

September 25, 2024

SHANGHAI, Sept. 25, 2024 /PRNewswire/ — The wire China 2024 and Tube China 2024, organized by Shanghai Electric Cable Research Institute Co., Ltd., Messe Düsseldorf (Shanghai) Co., Ltd., Metallurgical Council of the China Council for the Promotion of Int’l Trade (MC-CCPIT), are scheduled to be held from September 25 to 28 at the Shanghai New International Expo Centre, aiming to drive industry advancement and foster connections.

This year, the two expos will span 10 pavilions, encompassing a total exhibition area of 109,250 square meters. Nearly 1,500 businesses from about 30 countries and regions are expected to participate. The two exhibitions will cover the entire industry chain of cables, wires and tubes, offering a professional and efficient one-stop platform for exchanges worldwide.

wire China 2024: supporting enterprises to foster new quality productive forces

The wire China 2024 event is poised to occupy an area of 80,500 sqm, setting a milestone in its growth trajectory. With the participation of nearly 1,100 enterprises from 26 countries and regions, the expo will serve as a platform to showcase the latest developments and trends in the industry.

The exhibition will showcase an array of offerings including wire and cable manufacturing and processing machinery, auxiliary cable processing equipment, raw and auxiliary materials for cables (optical cables), finished wire products and cables, measurement and control technology, testing engineering solutions. The showcase is designed to assist enterprises in accelerating their transition toward digitalization, fostering flexibility, enabling smart production, nurturing new quality productive forces and enhancing the production competitiveness of businesses. The 2024 edition will cover five major areas: Digital Intelligent & Innovative Equipment, Technology Tools & Auxiliary Materials, Green and Low-carbon Solutions, Wires & Cables and Measures & Control Technology.

China has been promoting development of new quality productive forces since the start of 2024, with burgeoning sectors like artificial intelligence; new materials; commercial aerospace; the low-altitude economy and smart connected vehicles. These innovations are infusing the wire industry with vitality and drawing the attention of numerous overseas enterprises to China. This year, the event will host businesses from countries and regions such as South Korea, Japan, the United States, Switzerland, the United Kingdom, Spain and Turkiye. Business delegations from Germany, Italy, France and Austria will be present at the W1 Pavilion to exhibit their innovations and latest breakthroughs.

Heavyweight participants

This year, the event has garnered robust backing from prominent industry associations, including the Asian Wire & Cable Industry Corporation Alliance (AWCCA); Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK); the Association of the German Trade Fair Industry (AUMA); the German Mechanical Engineering Industry Association (VDMA); the ITA/ICE-Italian Trade Agency (ITA); the Italian Wire Machinery Manufacturers Association (ACIMAF) and the Austrian Federal Economic Chamber (WKÖ).

List of some well-known participating brands:

NIEHOFF, WAFIOS, SIKORA, MAILLEFER, ROSENDAHL NEXTROM, BOROUGE, SAMP, PROTON, ELANTAS, ENEOS NUC, HANWHA, TOTOKU, KOS, MFL GROUP, TEIJIN ARAMID, ZUMBACH, EUROLLS, SWPG, ESTEVES, SHENG CHYEAN, PETROFER, HUNTSMAN, DSR, SMATER, SINGCHEER, HONTA, G.Y.M., HANDING, JCDOFAMA, XINGMING, GOLDEN TECHNOLOGIES , INOVANCE, DONY GROUP, LIQIANG MECHANICAL & ELECTRICAL, AEROSPACE NANHAI, YI TENG ELECTRIC, HUAYUAN, PANGHAO, WANMA MACROMOLECULE, TIANRONG, CGN GROUP, CABLE, ORIGINAL, PAMICA, QLPM, ATPOIMER, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Fostering new quality productive forces

Centering on digital intelligence and innovation, the expo will be a key platform to display products and services. Singcheer will introduce the SiMOM for remote collaborative manufacturing operations and an AGV logistics system tailored for the cable industry. Maillefer from Finland will showcase the latest AI panoramic scanner 2.0, while Inovance from Shenzhen will present a motorized cable extrusion solution using advanced control algorithms and the MD810 multi-drive. These digital intelligence and innovation products cover manufacturing equipment, industrial software, visual inspection and other specific businesses, empowering cable companies to transit toward intelligent manufacturing.

Leading new trends

The wire China 2024 is not just a trade platform, but a place to communicate the latest market trends and release new products and solutions. This year, there will be nearly 60 high-end technological communication events.

The annual China Wire and Cable Industry Annual Conference will have in-depth discussions on new quality productive forces and high-quality development. Participants will share opinions on new market opportunities and challenges, exchange insights on the market trends, analyze the development status of the wire and cable industry, release annual reports on the development of international and domestic cable standardization work, as well as business competitiveness analysis reports. Simultaneously, the conference will address quality and technical issues related to typical products, unveil significant common technical research accomplishments and identify challenges and hurdles in emerging technological domains within the cable industry. The event aims to inspire businesses, bolster their confidence, foster courage in confronting challenges, and contribute to enhancing the development standards of both the industry chain and the supply chain.

The themed forums for wire and cable businesses will cover industrial economics and the development of the cable industry; the role of intelligent equipment in supporting high-quality development; green and low-carbon innovations in cable materials; high-quality special materials aiding the development of new energy vehicles; efficient and energy-saving electrical equipment; cable industry resource recycling technologies and digital intelligence empowering the development of the cable manufacturing industry.

Tube China 2024: 20 years of companionship, jointly shaping the new future of the industry.

As one of leading professional expos for tubes in Asia, Tube China 2024 has a total exhibition area of 28,750 sqm. Nearly 400 brands from 13 countries and regions including Germany, Japan, South Korea, Italy, the Netherlands, Latvia, Norway, Switzerland, and the United Kingdom will participate in the event. Tube China will present a high-level industry feast of intelligence and tube manufacturing for the Chinese tube industry and its upstream and downstream sectors.

This year, the expo will welcome some first-time participants including Fanuc. Industry-leading players including Fanuc, IPG, Kinkelder, Stark, Inductotherm, SINOAUDE, Halifax Fan and ENRX will bring their latest developments to the event. Enterprises such as IPG, Changen, Longxin, Huibaisheng and Huinengda will focus on showcasing innovative products and applications related to lasers and optoelectronics; optics and optical manufacturing; testing and quality control; as well as the innovative products and application solutions of infrared technology and applications.

List of some well-known participating brands:

FANUC, IPG, KINKELDER, STARK, INDUCTOTHERM, SINOAUDE, HALIFAX FAN, ENRX, HUIBAISHENG, SINOFORM, CHANGEN, HANDUK, KTM, TOYOKOHAN, TAELIM, VICTAULIC-TUWEI, TEMA, DONGAN, FIELD, AMPCO, ARES, JINYI, SONGYANG STAINLESS STEEL INDUSTRY ASSOCIATION, CHENLONG, ZHONGYONG, CHANGFENG, WAN-RUN DA , BOKENA, TUS PIPE, LONGXIN, NANYANG, CONTOR M & E, SHENGTIAN, NEW VICTOR, HUAYANG, HUILITONG, BAOFENG, JINCHUANG XINTIAN, HAIQIANWEI, FUGANG, ASCENDING, JUYI, LIWAN, VICTORY, ZHONGHAO, YOUFA, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Concurrent events, including the China International Steel Tube & Pipe Summit and the 2024 Heat Treatment Technology Seminar, will be organized during the expo to enhance communication, foster partnerships, drive technological innovation and uphold high-quality development within the industry.

A variety of activities will be organized to celebrate the 20th anniversary of the annual expo and the longstanding support from all participants of the expo.

Looking ahead, organizers of wire & Tube China will continue to promote development of the event to promote exchanges and bolster quality development of the industry.

View original content:https://www.prnewswire.com/apac/news-releases/wire-and-tube-industry-expos-to-spark-international-trade-in-shanghai-302255418.html

SOURCE Messe Düsseldorf Shanghai

Technology

PayMongo and Brankas Now Offer the Widest Range of Payment Options in the Philippines

Published

10 mins ago

September 25, 2024

Enable seamless, secure, and direct online banking payments with Brankas through PayMongo, featuring top Philippine banks BDO, Metrobank, and Landbank.

MANILA, Philippines, Sept. 25, 2024 /PRNewswire/ — PayMongo has partnered with Brankas to add new payment options to the PayMongo platform, making it the payment gateway with the widest range of payment options for Filipino businesses. PayMongo payment options include credit cards, e-wallets, BNPL, QRPh, and online banking. PayMongo merchants can now accept direct online banking payments from three additional Philippine banks — BDO, Metrobank, and Landbank — offering greater convenience and flexibility for both merchants and customers.

eCommerce stores, food delivery websites, ride-hailing apps, and gaming platforms that are PayMongo merchants can accept more forms of payments by integrating Brankas Direct API. This pay-by-bank channel is another trusted payment method that makes transactions faster and enhances the overall payment experience for users.

“Brankas and PayMongo share the same commitment to deliver fast and secure payment experience for users. Offering more payment options is a win-win for both customers and merchants as we offer greater payment flexibility and customer reach at the same time.” said Todd Schweitzer, Brankas CEO and Co-founder.

How to Get Started with Brankas Direct

To start accepting direct online banking payments, existing PayMongo merchants simply need to contact PayMongo Customer Support to request the activation of BDO, Metrobank, and Landbank payment options. The feature is available for Shopify plug-in users, PayMongo’s Custom & Checkout API, PayMongo Pages, and PayMongo Links. Users of the custom API require minimal updates, and the PayMongo developer website provides the full details.

Ready to enhance your payment offerings and provide a better customer experience? Enable Brankas Direct through PayMongo now. Visit Brankas Direct or PayMongo to learn more.

About PayMongo

PayMongo is a leading financial infrastructure platform in the Philippines, designed to simplify how businesses manage their finances. From payment processing to embedding financial services, PayMongo provides solutions that enable businesses to accept payments both online and in-person, streamline financial operations, and drive profitability. By offering a wide range of payment options and seamless integration, PayMongo empowers businesses to grow their revenue and succeed in the digital economy.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media Enquiries:

Yiyang Teo
yiyang.teo@brank.as

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/paymongo-and-brankas-now-offer-the-widest-range-of-payment-options-in-the-philippines-302255016.html

SOURCE Brankas