Smart Food Bin Market Share

On the basis of regional analysis, the global smart food bin market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is set to account for largest revenue share by 2036, owing to presence of major players in the region as well as steps taken by various governments for introduction of laws for dealing with food waste and recycling. The official figures released by FAO of the United Nations on per capita food waste occurred in Europe and North America was 95-115 kgs every year. According to World Hunger Education Service (WHES), several businesses and organizations in the United States had given a commitment publicly that they would work towards reduction of food waste by 50 percent in their operations by 2030. Moreover, according to Waste and Resources Action Programme (WRAP), a charity organization registered in the United Kingdom (UK), several businesses, trade organizations including local authorities who are a part of the Courtauld 2025 signatories in the United Kingdom have shown commitment to reduce food losses and waste. All these factors are anticipated to boost the demand for smart food bins in the regions of North America and Europe and are estimated to drive the growth of the smart food bin market over the forecast period.