New York, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Wet Waste Management Market Size to Grow from USD 132.6 Billion in 2022 to USD 180.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.
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Increasing concerns about environmental sustainability, the impact of organic waste on landfills, and greenhouse gas emissions have fueled the demand for wet waste management services. The advancement of technology for garbage sorting and processing has boosted the efficacy of wet waste management. Anaerobic digesters, automated sorting techniques, and equipment for producing biogas are some of these advancements. The wet waste management sector is home to a wide range of public and private sector organisations, including waste management firms, recycling organisations, composting facilities, and technology suppliers. The sector's competition has led to innovation and greater service options. Growing urban populations are increasing the creation of organic waste, such as food scraps and kitchen waste. This development is fueling the demand for wet waste collection and management solutions.
COVID 19 Impact
Lockdowns and limitations caused people to spend more time at home, which led to an increase in the production of wet household trash such food scraps and kitchen garbage. As a result, there was a greater requirement for home waste collection services. On the other hand, during lockdowns, business operations at establishments, restaurants, hotels, and institutions were limited or shut down, which decreased the creation of commercial wet waste. Businesses involved in waste management who significantly relied on contracts for the collection of commercial waste were impacted by this. The epidemic disrupted networks that supplied materials and waste management equipment, making it challenging for enterprises to obtain the supplies they required to operate.
As more people become aware of the benefits of efficient wet waste management for the environment and their health, there is an increasing need for better garbage collection and disposal services. Businesses, eateries, lodging facilities, and other organisations may actively seek out waste management companies that offer sustainable and ecologically friendly solutions. Awareness helps to build a sense of responsibility and the desire to adopt sustainable practises. People and groups can reduce food waste, compost, and separate organic waste from other waste streams by taking proactive efforts. As a result, there can be a greater demand for the technologies and services that support these practises. Issues with wet waste management may be the catalyst for expanding industrial innovation.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Wet Waste Management Market Size By Service (Collection & Transportation, Disposal & landfill, Processing, Sorting), By Source (Industrial, Municipal, Commercial), By Geographic Scope And Forecast 2022 - 2032."
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Insights by Service
The processing segment accounted for the largest market share over the forecast period 2023 to 2032. One common method for managing organic waste is composting. Composting facilities transform wet waste into nutrient-rich compost, which is then used as a soil conditioner and fertiliser in landscaping and agriculture. Growing consumer demand for organic and sustainable farming practises has resulted in the expansion of composting facilities. The processing segment's resource recovery phase highlights the extraction of nutrients, energy, and valuable components from wet waste. This approach follows the principles of the circular economy, which views waste as a resource that may be utilised. Growing awareness of environmental issues and sustainability has encouraged public and corporate investments in wet waste processing.
Insights by Source
The municipal waste segment accounted for the largest market share over the forecast period 2023 to 2032. Rising population and urbanisation rates result in increased production of municipal waste, particularly moist waste. Effective waste management services are becoming more and more important as cities expand and urban populations rise. Municipalities use waste diversion strategies to promote the separation of organic waste from other waste streams. Facilities for anaerobic digestion and composting have been built to manage this segregated organic waste. Since many towns offer curbside pickup services for organic waste, residents find it convenient to participate in wet waste diversion schemes. Increased engagement and source-based waste sorting are encouraged by this technique.
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Insights by Region
Asia Pacific is anticipated to dominate the Wet Waste Management market from 2023 to 2032. The APAC region contains some of the nations with the highest human population densities. Due to population growth and increased urbanisation, there is an increase in trash generation, which includes significant amounts of moist waste from households and businesses. In several APAC countries, regulations for waste management, including the proper handling and disposal of wet waste, have been introduced or enhanced. These policies aim to decrease landfilling and increase recycling and composting. The APAC area has embraced innovative wet waste management practises, such as the construction of massive composting facilities and the production of biogas from organic waste.
North America is witnessing the fastest market growth between 2023 to 2032. North America, specifically the United States and Canada, has well-established regulations governing waste management, notably the treatment and disposal of wet waste. These limitations are meant to decrease landfilling while increasing recycling and composting. A few locations in North America have established biogas facilities that convert biological waste into renewable energy sources like electricity or natural gas. Both the production of renewable energy and waste management are aided by these activities. Businesses and governments can use the services provided by trash management companies, which represents a significant contribution from the private sector to North American garbage management.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some major vendors in the Global Wet Waste Management Market include Waste Management Inc., Clean Harbors Inc., Progressive Waste Solution Ltd., Veolia Environment S.A., Suez Environment, Stericycle, Advanced Disposal, Covanta, Remondis SE & Co. Kg, Republic Services, Inc. and Other Key Vendors.
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Recent Market Developments
- In January 2022, Veolia declared that the sale of the new Suez to the consortium of investors made up of Meridiam, GIP, CDC Group, and CNP Assurances had been successfully completed.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Wet Waste Management Market, Service Analysis
- Collection & Transportation
- Disposal & landfill
- Processing
- Sorting
Wet Waste Management Market, Source Analysis
- Industrial
- Municipal
- Commercial
Wet Waste Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
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