Waste Management Market is Expected to Reach USD 1218.52 Billion by 2030

The rising environmental concerns and growing population are significantly boosting the waste management market growth.

The global Waste Management Market size was valued USD 687.30 billion in 2023, and it is projected to reach USD 1218.52 billion by 2030, with a CAGR of 7.5% from 2024-2030.

The growing population drives the need for effective waste management solutions. As population numbers rise it increases waste generation that necessitates the demand for scalable and efficient waste management systems to ensure environmental sustainability and protect public health.

According to the latest survey conducted by the United Nations (UN), the global population reached 8 billion in November 2022 and is projected to hit 10 billion by 2042, reflecting a 20.0% increase over 30 years. This anticipated growth is heightening the urgency for robust waste management strategies to safeguard environmental health worldwide.

Additionally, population growth directly contributes to increased residential waste production. The United Nations Environment Programme (UNEP) reports that municipal solid waste generation reached 2.1 billion tonnes in 2023 and is expected to rise to 3.8 billion tonnes by 2050.

The global direct cost of waste treatment, currently valued at around USD 361 billion in 2023, is projected to nearly double to USD 640.3 billion by 2050, marking a 43.6% increase. This substantial rise in residential waste is propelling the waste management market growth, essential for maintaining cleanliness and quality of life across the globe.

Moreover, the increasing environmental awareness among the public is driving the adoption of sustainable waste management practices. The detrimental effects of improper waste disposal on ecosystems and public health are intensifying the demand for eco-friendly solutions such as composting and recycling. In response, companies are implementing various initiatives, including new product launches, to address these concerns.

For example, in February 2024, ZenRobotics launched ZenRobotics 4.0, its fourth-generation waste sorting robots equipped with advanced features and enhanced artificial intelligence (AI) to improve material sorting efficiency.

Additionally, in March 2023, Bharat Petroleum Corporation Ltd. (BPCL) introduced an e-waste management initiative aimed at supporting sustainable development goals and enhancing e-waste recycling efforts.

Also, the growing issue of food waste further highlights the need for effective waste management solutions due to its significant environmental impact. As food waste accumulates, it contributes to increased greenhouse gas emissions and environmental pollution.

According to the UNEP latest report, households across all continents wasted over 1 billion meals a day in 2022 and there were 1.05 billion tonnes of food waste generated amounting to 132 kilograms per capita. Out of the total food wasted in 2022, 60% generated from the household level, with food services responsible for 28% and retail 12%.

Moreover, the World Food Programme (WFP) estimates that the total cost of food loss and waste to the global economy is approximately USD 1 trillion. The substantial levels of food waste are driving the waste management market demand by increasing the need for effective waste treating solutions, such as anaerobic digestion and waste-to-energy systems.

However, the waste management market expansion is hindered by infrastructural limitations and stringent government regulations. Inadequate infrastructure for waste segregation and processing leads to inefficiencies and delays, hindering effective waste control and recycling efforts.

Additionally, strict regulatory requirements from governmental bodies such as the Environmental Protection Agency (EPA) in the U.S., the Union Ministry of Environment, Forest and Climate Change (MoEF&CC) in India, the Ministry of Ecology and Environment in China, and (FEA) in Germany raise compliance costs and pose operational challenges for businesses. These factors collectively impede the waste management market expansion and innovation, affecting the overall development of the industry.

On the contrary, the adoption of waste-to-energy technologies such as incineration, anaerobic digestion, and gasification represents a substantial growth opportunity for the waste management market trends. The technologies convert waste materials into usable energy, reducing reliance on landfills and supporting sustainable energy production.

The transformation of waste into a valuable resource enhances environmental sustainability and drives market expansion. This innovative approach aligns with global trends toward circular economy practices. The economic benefits of generating energy from waste create a promising avenue for the growth of the waste management sector.

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According to the report, leading players operating in the waste management industry include Waste Management, Inc., Veolia Environnment S.A., Republic Services, Remondis, Waste Connections, Inc., GFL Environmental, PreZero, FCC Group, Clean Harbors, China Everbright Environment Group, and others.

Key Insights from the Waste Management Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the waste management market is provided in the report.

• The value chain analysis in the waste management market study provides a clear picture of the roles of each stakeholder.

• The market share of the key players in the waste management market along with their competitive analysis are provided in the report.