Waste Management Industry to Reach Beyond USD 1.24 Trillion 2021

Waste Management Industry Data Book - Plastic Waste Management, Food Waste Management and Waste Recycling Services Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The economic value generated by the industry was estimated at approximately USD 1.24 trillion in 2021. This economic output is an amalgamation of businesses that are involved in the services of waste collection, transportation, and disposal activities. Disposal activities mostly include incineration, landfill, composting, and recycling processes.

Waste Management Industry Data Book Coverage-

Waste ManagementIndustry Data Book Coverage Snapshot

Access the GlobalWaste ManagementIndustry Data Book, 2023 to 2030, compiled with details like market sizinginformation forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies.

Liquid Waste Management Market Growth Trends

The global liquid waste management marketsize is expected to reach USD 117.3 billion by 2025, expanding at a CAGR of 3.8%, according to a new report by Grand View Research, Inc. Increase in the number of water-borne diseases has resulted in a rise in toxicity and safety concerns across the globe, which has emerged as a key factor driving the market.

Liquid waste generated from industrial manufacturing activities contains chemical compounds and toxic materials, which are hazardous for the environment, leading to growing demand for liquid effluent management activities. Increasing manufacturing activities to meet the surging consumer demand have resulted in significant rise in wastewater production, which is expected to benefit the industry expansion.

The liquid waste management market is highly regulated by agencies such as Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). Various laws including Environmental Protection Act, 1993 specify steps to be carried out by industry players including undertaking Environmental Impact Assessment (EIA) and preparing Environmental Impact Statement (EIS).

The market is characterized by presence of a few large players that lay focus on mergers and acquisition in order to reduce the competition. However, competitive rivalry in the market is expected to be low owing to increasing technological challenges and stringent waste processing regulations, which discourages the new entrants.

Plastic Waste ManagementMarketGrowth Trends

The globalplastic waste management marketsize is anticipated to reach USD 42.2 billion by 2027, expanding at a CAGR of 3.1%, according to a new report by Grand View Research, Inc. Economic growth, rising industrialization, increasing urbanization, and growing health awareness are the major factors, which are likely to boost market growth over the forecast period.

Regulations pertaining to each end-use industry, along with other specifications pertaining to plastic waste management are expected to create opportunities in the market. Increasing awareness towards sustainable advantages and benefits of reusing and recycling are projected to drive the market.

Plastic waste management is a collective approach to recycle the plastic or to generate energy through incineration. In addition, such recycling of waste will help save resources and protect the environment. Moreover, it can help reduce the manufacturing cost of companies by recycling the materials.

Majority of the players operating the industry cater to commercial, residential, and industrial sectors. The market concentration in developed economies is growing through consolidation and companies are outsourcing the waste treatment and disposal services. This, in turn, is expected to drive the plastic waste management market over the forecast period.

Drilling Waste Management Market Growth Trends

Theglobaldrilling waste management marketis expected to reach USD 7.13 billion by 2025, according to a new report by Grand View Research, Inc. Growing ecological awareness towards effective treatment and disposal of drilling wastescoupled with strict regulations to enforce the laws will boost the market growth.

Increasing drilling activity for natural gas exploration along with growing construction sites for residential and commercial spaces is predicted to drive the global drilling waste management market over the forecast timeframe. Applications of the market include onshore and offshore drilling wastes. Onshore application segment is the dominant sub-segment of the market, while the offshore application is predicted to witness significant growth by 2025. North America leads the onshore application segment owing to the unprecedented domestic production levels crude oil, largely due to the wide adoption of innovative technologies includingand horizontal drilling, signalling the onset of a shale revolution.

The drilling waste management market is also segmented based on services, including treatment disposal, containment handling, and solids control. In 2016, Treatment disposal accounted for 39.2% of the market share, largely owing to onsite burial sites including landfills and pits, land-spreading, land-farming, incineration thermal treatment, slurry injection and bioremediation. Treatment disposal services are chiefly dominant in Europe and North America owing to increasingly strict regulations including zero-discharge standards that direct drilling companies to effectively treat and reuse all drilling waste generated, and forbid any dumping, especially in water bodies like rivers or seas.

Food Waste Management Market Growth Trends

The globalfood waste management marketsize is anticipated to reach USD 106.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2023 to 2030. Rising concerns over food waste globally, and increasing consumer preference for exotic food items, are expected to drive the market growthduringthe forecast period.

The consumption of ready-to-eat andpackaged foodsis also predicted to increase as a result of changing lifestyles and an increase in the number of dual-earner families. Growing consumer demand for unusual food items like premium coffee, tropical fruits, and imported goods is anticipated to increase the amount of food that is wasted, which in turn is likely to drive market expansion.

The food industry is undergoing tremendous change such as plastic ban, the rise of veganism, stringent regulatory framework, the presence of e-commerce, the adoption of modern technologies, and waste reduction, and is seeing an increase in international trading of food and food ingredients, which is creating new supply chains, thereby augmenting the market demand.

Increasing per capita income is expected to boost the demand for packaged and ready-to-eat food across the globe, thereby boosting food waste generation. High disposable income of consumers and recovering confidence in the economy are projected to boost the consumption of food and beverages, which in turn, is likely to aid the market growth.

Order your copy of the Free Sampleof Waste Management Industry Data Book - Plastic Waste Management, Food Waste Management and Waste Recycling Services Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030 Data Book, published by Grand View Research

Waste Recycling Services Market Growth Trends

The globalwaste recycling services marketsize is anticipated to reach USD 81.3 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness pertaining to effective waste disposal in sustaining human and animal health has resulted in the development of numerous disposal systems and processes, which is expected to complement market growth.

Waste recycling service is an important component of urban infrastructure owing to its ability to protect both the environment and human health, which is a political as well as environmental concern. Waste management is intertwined with a variety of concerns, including urban lifestyles, resource consumption patterns, and other socioeconomic and cultural aspects.

Rapid industrialization has boosted the consumption of harmful chemicals, resulting in the generation of a substantial amount of hazardous waste. Furthermore, increased agricultural production has boosted the livestock agricultural crop wastes along with agro-industrial by-products. Thus, increased generation of waste is likely to boost the demand for services for waste recycling.

Governments across the world are embracing the public-private partnership model to match the operational knowledge provided by the private sector. Rising focus on greening the waste recycling industry with emphasis on the 3Rs i.e. reduce, reuse, and recycle is critical to achieving the environmental, economic, and social goals of sustainable development, thereby driving the market growth.

Competitive Landscape

Key players operating in the waste management industry are

• Veolia Group,
• Waste Management Inc.,
• Covanta Holding Corporation,
• Stericycle, Inc.,
• Clean Harbors, Inc.,
• Biffa,
• Hawkvale Limited

Grand View Researchswaste managementIndustry data book is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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