Global Waste Management Market - 2023-2030

Market Overview

Global Waste Management Market reached US$ 1.5 trillion in 2022 and is expected to reach US$ 1.9 trillion by 2030, growing with a CAGR of 3.0% during the forecast period 2023-2030. The emergence of waste management as a service model and its growing adoption among small and medium-sized enterprises (SMEs) and municipalities is expected to propel the growth of the global waste management market. Outsourcing waste management services allows organizations to focus on their core activities while relying on specialized waste management providers.

Established companies are partnering with startups to advance the concept of circular economy. For instance, in May 2023, Yokogawa Electric Corporation, a multinational Japanese engineering company announced that it had made a US$ 10 million Series B investment in Ideation3X Pte. Ltd., a Singapore-based startup that is utilizing the circular economy approach to solid waste management in India.

Market Dynamics

Rise in Global Population

The global population has increased significantly in the past few decades. The United Nations estimates that the global population could grow from the current 8 billion to 9.7 billion in 2050 and peak at around 10.4 billion in 2080. As the global population expands, the overall volume of waste generated also increases. More people mean more consumption, resulting in higher waste production from households, commercial establishments, and institutions.

Population growth often prompts governments to implement regulations and policies for effective waste management. Regulatory frameworks focus on waste reduction, recycling, and proper disposal methods to minimize environmental impact. Government policies also focus on effective waste management to prevent public health hazards, since diseases can spread quickly in densely populated urban areas. The growing population directly contributes to the greater demand for waste management services.

Increasing Environmental Consciousness

Increasing awareness about the detrimental effects of solid waste pollution on the environment has led to a growing concern for sustainable waste management practices. People are becoming more conscious of the need to reduce waste, recycle materials, and minimize the environmental impact of waste disposal.

Governments worldwide are implementing stricter regulations and policies to address environmental challenges related to waste management. The regulations focus on waste reduction, recycling, and proper disposal methods. Compliance with these regulations requires businesses, organizations, and municipalities to invest in advanced waste management systems and technologies.

The environmental movement has gained significant momentum, with individuals and communities actively advocating for sustainable waste management practices. Environmental activism and public pressure encourage businesses and governments to adopt environmentally friendly waste management solutions.

Limited Public Awareness and Participation

Public awareness about proper waste management and recycling is extremely limited, especially in poor developing and underdeveloped countries due to illiteracy and poverty. Insufficient public awareness and participation result in low recycling rates. Many individuals are unaware of the importance of recycling or lack knowledge about proper sorting and disposal practices.

Lack of awareness about waste disposal practices leads to improper waste disposal. Individuals may dispose of waste inappropriately, such as littering or dumping waste in unauthorized areas. It not only contributes to environmental pollution but also increases the costs and challenges associated with waste management.

Public awareness plays a crucial role in promoting waste reduction efforts, such as minimizing single-use plastics, adopting sustainable packaging practices, and choosing products with reduced environmental impact. Without adequate awareness, individuals are less likely to make conscious choices that reduce waste generation and promote a circular economy.

COVID-19 Impact Analysis

During the pandemic, many waste management services faced disruptions due to lockdown measures, staff shortages, and restrictions on movement. Municipal waste collection services were impacted, leading to irregular or reduced collection schedules in some areas. It resulted in waste accumulation, sanitation concerns, and potential environmental hazards.

The pandemic brought about a surge in the use of single-use plastics such as masks, gloves, and packaging for hygiene purposes. It increased the volume of plastic waste and posed challenges for waste management systems. With the disruptions in waste management services and rise in the adoption of single-use plastics, the pandemic led to a major increase in plastic pollution.

Ukraine-Russia War Analysis

The Ukraine-Russia conflict has caused significant environmental contamination through various means, including the destruction of industrial facilities and weapons storage locations leading to the release of various hazardous substances. The contamination poses major risks to public health and the environment, requiring specialized waste management measures to mitigate the impact.

Furthermore, the conflict has resulted in an increased demand for healthcare services, mainly to treat wounded soldiers, leading to a surge in healthcare waste. The proper management of medical waste, including the safe handling and disposal of infectious materials, has become difficult during wartime, leading to a high risk in the spread of infections and diseases.

Segment Analysis

The global waste management market is segmented based on waste type, service and region.

Proper Waste Collection is the First Crucial Step in Waste Management

Collection services account for more than half of the global market. Collection services play a crucial role in waste management as they are responsible for collecting waste from its source and transporting it to treatment or disposal facilities. The service involves the use of waste collection vehicles, including garbage trucks and specialized containers, to ensure the efficient and timely removal of waste.

The importance of collection services stems from the fact that proper waste collection is the initial step in effective waste management. It ensures that waste is properly segregated, preventing contamination and optimizing the recycling and disposal processes. Without efficient collection services, waste management systems would struggle to function effectively.

Geographical Analysis

Government Backing to Propel Market Growth in North America

North America is expected to account for nearly a third of the global market. North America countries such as U.S. and Canada have strict environmental regulations and waste management standards, which drive the demand for advanced waste management technologies and practices. Regulatory bodies enforce rules for waste disposal, recycling, and hazardous waste management, ensuring compliance and environmental protection.

The waste management infrastructure in North America is highly developed, comprising efficient waste collection systems, recycling facilities, waste treatment plants, and modern landfills. The region has well-established waste management companies and service providers that offer comprehensive waste management solutions.

Governments at the federal, state, and local levels in North America provide support and funding for waste management initiatives. It includes grants, incentives, and programs to encourage sustainable waste management practices, research and development and infrastructure improvement. Government support contributes to the growth of the waste management market. For instance, the Infrastructure Investment and Jobs Act, provides US$ 275 million over a four year period from 2022 to 2026 for setting up solid waste recycling infrastructure.

Competitive Landscape

The major global players include Veolia, Suez, Waste Management Inc, FCC Environment CEE, Hitachi Zosen Corporation, Clean Harbors, Inc., Covanta Holding Corporation, Biffa Group Limited, Daiseki Co., Ltd and Remondis SE & Co.KG.

Why Purchase the Report?

• To visualize the global waste management market segmentation based on waste type, service and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of waste management market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global waste management market report would provide approximately 50 tables, 46 figures and 180 Pages.

Target Audience 2023

• Waste Disposal Companies
• Government Agencies
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies