Page 75 - Ameft Journal 2021/1

MARKET
Seoul plant to produce heat from food waste
(Source: WELTEC BIOPOWER)
In autumn 2020, WELTEC BIOPOWER starts building a biogas plant in South Korea. The plant is being set up in the province of Gyeonggi-do, some 60 km north of Se- oul, and will transform biogas into heat in an integrated gas boiler. As early as spring 2021, the seven megawatt plant is to go live and digest up to 93,000 tons of food waste a year, some of which will also come from local households.
Recently a Green New Deal was announced in order to deliver net zero carbon emission by 2050. South Korea will be the first country in East Asia to set a timeframe to end its contribution to climate change. First efforts were already made in 2017 with the ‘Renewable Ener- gies 2030 Implementation Plan’, where biogas was given a key role. Nevertheless, the biogas market has not yet developed as desired. This is due to the immature tech- nologies of some providers, which merely deliver an in- efficient process for the digestion of biomass to biogas. This is now to change.
(Source: WELTEC BIOPOWER)
Frozen food market to reach USD 376.95 billion by 2025: The Ireland based Research and Markets’ research looked into Frozen Food Market Size, Share & Trends Analysis Report by Product, by Region and Segment Forecasts, 2020 – 2027. Founded in 2002, Research and Markets aims to connect businesses with the market insights and analysis much needed for companies to enable intelligent decision-making.
Europe and North America have got affected severely due to this pandemic. According to the local news of the U.S., the demand for frozen meat especially hotdog has increased by around 300.0% in the second week of March, 2020. These market trends are anticipated to expand the scope of frozen foods as shelf-stable products over the forecast period.
Further key findings from the report suggest:
• Frozen potatoes are anticipated to be the fastest growing product segment with a CAGR of 4.0% from 2020 to 2027 owing to an increasing demand for French Fries as well as the rising application of potatoes in various types of cuisines across the globe
• Frozen ready meals were the largest product segment with a market share of more than 30.0% in 2019 and expected to maintain the dominance over the forecast period owing to large consumption among working class people around the globe especially in North America and Europe
• Europe was the largest market for frozen food, accoun- ting for a share of more than 35.0% in 2019. Strong ac- ceptance of long-shelf products among the consumers of key markets including Germany, U.K., and France is ex- pected to remain a key favorable factor for the industry
• Asia Pacific is anticipated to be the fastest growing region with a CAGR of 3.9% from 2020 to 2027 owing to an in- creasing trend of ready-to-eat food among the working- class people and college grads of countries such as China and India
• Mergers and acquisitions are expected to remain a key strategy among the industry participants. For instance, in October 2018, ConAgra Brands Inc. completed the acqui- sition of Pinnacle Foods at USD 10.9 billion.
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