Products from Food Waste Industry in Korea Market 2024
The market for Products from Food Waste Industry in Korea Market is on a path of steady growth, fueled by advancements in sustainable practices, regulatory frameworks, and growing consumer awareness. By 2024, the industry is expected to achieve a valuation of US$ 1,924.27 million, rising to an estimated US$ 2,664.05 million by 2034, at a steady CAGR of 4.3%.
Driven by technological advancements in biorefining, fermentation, and upcycling, companies are unlocking the economic potential of food waste. These initiatives are aligned with Korea’s commitment to achieving a circular economy, and the government is actively promoting sustainability goals through regulations and incentives.
Key Market Trends and Opportunities in Products from Food Waste Industry in Korea Market
1. Circular Economy Initiatives
Korea is aggressively pushing for a zero-waste economy, with support from government-backed programs and industry players. Companies are developing high-value products like biofuels, animal feed, bioplastics, and fertilizers.
Key Example:
The Food Waste Recycling Law has led to a surge in demand for innovative solutions. Waste-to-resource initiatives have created opportunities to produce sustainable products like compost, bio-based chemicals, and recycled packaging materials.
2. Rising Demand for Biodegradable Packaging
Consumer preference for sustainable and eco-friendly packaging is on the rise. Companies are now utilizing citrus peels, vegetable scraps, and food waste to produce biodegradable food packaging materials. This trend is expected to experience significant growth, driven by Korea’s strong anti-plastic waste movement.
Industry Insight:
South Korea’s leading firms like Samsung C&T and Hyundai Green Food are developing biodegradable packaging solutions from fruit and vegetable waste. This segment is poised to become a key growth driver for the market.
3. Innovations in Cosmetics & Personal Care
With increasing consumer demand for natural and organic skincare products, companies are transforming food waste like citrus peels into cosmetic ingredients. The use of essential oils, antioxidants, and natural extracts from fruit waste is becoming a key differentiator for cosmetics companies.
Example:
Citrus peels are being upcycled to extract fragrances, essential oils, and bioactives used in anti-aging creams, skincare serums, and organic beauty products.
4. Expansion of Food Waste-to-Energy Projects
The growing focus on renewable energy is driving the development of biogas production facilities. Companies are utilizing fermentation technologies to convert food waste into clean energy, reducing reliance on fossil fuels.
Notable Development in Products from Food Waste Industry in Korea Market
CJ Group recently launched a biogas facility in Gyeonggi Province that recycles 500 tons of food waste daily. The energy produced is being used to power local industries and reduce energy costs.
5. Collaboration Across the Value Chain
There is an increasing trend of collaboration between local farmers, food manufacturers, and waste management companies. Such partnerships allow for the creation of value-added products like animal feed, bioplastics, and functional additives.
Insight:
Companies like Lotte Group and Doosan Corporation are working with local farmers in North Jeolla to create animal feed and fertilizers from agricultural by-products, reducing waste while enhancing agricultural productivity.
Segment & Category Analysis in Products from Food Waste Industry in Korea Market
By Product Type for Products from Food Waste Industry in Korea Market
| Product Type | Market Share (2024) | Growth Drivers |
| Biodegradable Packaging | 33.1% | Rise in demand for sustainable packaging |
| Animal Feed | 26.4% | Reduced cost of livestock farming |
| Cosmetic Ingredients | 15.2% | Consumer preference for natural products |
| Compost & Fertilizers | 17.9% | Demand for sustainable agriculture |
| Biofuels & Biogas | 7.4% | Shift toward renewable energy |
By Source of Food Waste for Products from Food Waste Industry in Korea Market
| Source | Market Share (2024) | Applications |
| Citrus Waste | 8.0% | Used for essential oils, cosmetics, and health supplements |
| Grain & Cereal Waste | 25.6% | Used for livestock feed, biofuels, and bio-plastics |
| Fruits & Vegetables | 38.1% | Used for compost, bioplastics, and food additives |
| Seafood Waste | 20.3% | Used for bioactive extracts, nutraceuticals, and animal feed |
By End-User for Products from Food Waste Industry in Korea Market
| End-User | Market Share (2024) | Growth Drivers |
| Food Processing | 19.0% | Food additives and functional ingredients |
| Cosmetics & Skincare | 14.7% | Organic personal care products |
| Agriculture | 27.8% | Biofertilizers and soil amendments |
| Animal Feed | 20.6% | Cost reduction in livestock farming |
| Renewable Energy | 17.9% | Biogas for energy production |
Regional Analysis for Products from Food Waste Industry in Korea Market
| Province | Growth Rate (CAGR) | Market Trends |
| Gyeonggi Province | 6.5% | Major investments in biogas facilities |
| South Gyeongsang | 6.3% | Growing interest in sustainable agriculture |
| North Jeolla | 5.8% | Collaboration with farmers for feed production |
| Jeju Island | 5.2% | Growth in eco-friendly tourism |
Insight:
Gyeonggi Province is leading in growth due to heavy investments in waste-to-energy and composting facilities, with companies like CJ Group and Samsung C&T playing a pivotal role.
Competitive Landscape in Products from Food Waste Industry in Korea Market
Key Players and Their Initiatives in Products from Food Waste Industry in Korea Market:
Recent Developments in Products from Food Waste Industry in Korea Market
- CJ Group to process 500 tons of food waste daily in a new recycling facility.
- Samsung C&T signed a deal with Korea Institute of Food Science and Technology to develop biodegradable packaging.
- Hyundai Green Food expanded its portfolio to include fertilizers, compost, and animal feed.
Frequently Asked Questions (FAQs) for Products from Food Waste Industry in Korea Market
- What is the size of the Products from Food Waste industry in Korea in 2024?
The market is projected to be worth US$ 1,924.27 million in 2024. - What is the anticipated size of the market by 2034?
The industry is expected to grow to US$ 2,664.05 million by 2034. - What is the growth rate for this market?
The market is projected to grow at a CAGR of 4.3% from 2024 to 2034. - Which province leads in market growth?
Gyeonggi Province is expected to witness the fastest growth, led by biogas and waste recycling projects. - Which companies are dominating the industry?
CJ Group, Samsung C&T, Hyundai Green Food, Lotte Group, and SK Group are the key players driving innovation and growth.
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