New York, United States, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Vegetable peels, tea bags, fruit, and other items from the kitchen are included in the wet waste. Dry trash consists of materials used to package food and paper, glass, plastic, cardboard, Styrofoam, and other similar materials. Wet waste is organic waste that is typically heavy due to its high moisture content and can be separated into biodegradable and non-biodegradable garbage. “The global wet waste management market size is projected to reach USD 199.09 billion by 2030, growing at a CAGR of 4.85% during the forecast period (2022–2030).,” stated by Research Manager at Straits Research P. Ltd.
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Key Drivers
It is expected that the growth of the urban population will be the primary driver of the global wet waste management industry. Therefore, the number of treatment plants needed to handle the amount of trash is urgently needed. The government promotes waste management awareness through various programs, advertisements, and social networking sites which are expected to enhance the overall wet waste management market during the forecast period.
Growth Opportunities
The need to develop waste-to-energy solutions and increase public and governmental awareness of these solutions are predicted to create lucrative growth opportunities for market participants. Suez and the Shanghai Chemical Industry Park have similar agreements in place to collect hazardous waste from clients of the industrial park and the automotive sector.
Regional Analysis
The Asia-Pacific region commands a sizeable market share in the global wet waste management market. Europe is the second-largest world region and is anticipated to grow at a CAGR of 5.23% during the forecast period. Due to increased government efforts and programs that support the management's promotion, several European regions contribute to and account for a sizeable market share.
Key Highlights
- The municipal waste sector will lead the global wet waste management market.
- Based on service, the market is divided into collection and transportation, disposal and landfill, processing, sorting, and storage. Processing is anticipated to dominate the global market for wet waste management.
- Based on the type of waste, the market is segmented into food scrap, meat and bones, medical waste, shredded paper, agricultural waste, and others. The food waste segment is dominant in the global wet waste management market.
- The Asia-Pacific region holds a substantial market share in the global wet waste management market.
Competitive Analysis
The global wet waste management market’s major key players are Clean Harbors Inc. (U.S.), SUEZ Environment Co. S.A. (France), Veolia Environment S.A. (France), Republic Services Inc. (U.S.), Waste Management Inc. (U.S.), Covanta Energy Corporation (U.S.), Advanced Disposal Services, Inc. (U.S.), Stericycle (U.S.), Progressive Waste Solution Ltd. (Canada), Remondis SE & Co. Kg (Germany), Sampurn(e)arth Environment Solutions Pvt. Ltd. (India), Eco Wise Waste Management Pvt. Ltd. (India), Waste Ventures India (India), Fomento de Construcciones y Contratas (Spain), and Panda Recycling (Ireland).
Market News
- June 2022- Clean Harbors Inc., Safety-Kleen Introduces KLEEN+ Brand of Base Oils – a Revolutionary Combination of Sustainability and Superior Quality.
- June 2022- SUEZ partners with FDJ as the leading co-sponsor of the top French women’s cycling team FDJ-SUEZ-Futuroscope.
Global Wet Waste Management Market: Segmentation
By Service
- Collection and Transportation
- Disposal and Landfill
- Processing
- Sorting
- Storage
By Source
- Industrial
- Municipal
- Commercial
- Healthcare and Medical
- Others
By Type of Waste
- Food Scrap
- Meat and Bones
- Medical Waste
- Shredded Paper
- Agricultural Waste
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, specially designed and presented for decision making and ROI.
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