Waste Management Market Size, Share, Growth, Trends 2024 To 2033

Waste Management Market Size and Growth 2024 to 2033

The global waste management market size was valued at USD 1,324.16 billion in 2023 and is expected to be worth around USD 2,250.43 billion by 2033, expanding at a compound annual growth rate (CAGR) of 5.44% from 2024 to 2033.

As a vital component of sustainability, waste management is becoming more and more significant owing to the rise in the world's population and resources are becoming more limited. In recent years sustainable waste management techniques have gained popularity and many experts predict this trend to continue in the future. Therefore, new technologies and creative solutions are developed for addressing the challenges of waste reduction and waste management, over the next several years.

The shift to a circular economy is one of the most prominent developments in waste management. This strategy, which aims toward minimizing waste by extending the useful life of materials, is important for lowering the negative effects on the environment. Another trend in waste management is the growing use of technology as new techniques are created for improving the effectiveness and efficiency of waste collection, sorting, and recycling. In addition, there is a rise in the number of companies and organizations that are now recognizing the value of environmentally friendly waste management strategies and are working toward reducing waste and improving their environmental performance.

Report Highlights

• Asia Pacific region has dominated the market and accounted for 33.84% of the total revenue share in 2023.
• Europe has hit second position to generate revenue share which is 28.96% in 2023.
• By waste type, the industrial waste segment has accounted revenue share of 74% in 2023.
• By service, the collection segment has accounted revenue share of 58% in 2023.
• By end user, industrial segment has garnered 69% of the total revenue share in 2023.

Waste Management Market Growth Factors

• Advancements in Recycling Technologies: One of the best strategies for cutting down waste and preserving resources is recycling. Owing to the recent technological advancements in recycling more materials can now be recycled. This technology has shown to be a viable way of increasing recyclability and decreasing plastic waste. Another cutting-edge recycling technology is the application of AI-driven lines and robotic sorting systems. These cutting-edge sorting technologies are boosting sorting speed and accuracy, which is, therefore, revolutionizing waste management efficiency.
• Reducing Plastic Waste: The growing need for increasing recycling rates and decreasing plastic waste has gained more attention in recent years. Promotion of the use of reusable items is one way to reduce the amount of plastic waste produced. People can drastically cut down on their plastic waste and help create a more sustainable future by the use of reusable products. Another strategy for cutting down on plastic waste is the promotion of compostable and biodegradable plastics. Owing to the natural breakdown process of these materials, less plastic waste ends up in landfills and the ocean.
• Initiatives Associated with Food Waste Management: Initiatives for managing food waste have gained more attention in recent years. Anaerobic digestion technology is one such initiative that converts food waste into biogas and can be used for producing heat or electricity. Another initiative to manage food waste is the use of composting. Innovations in recycling and waste reduction technologies are therefore making significant strides towards a more sustainable future.
• Extended Producer Responsibility: Extended Producer Responsibility (EPR) is a policy approach that makes producers responsible for the environmental impacts of their products throughout their life cycle. EPR policies vary from country to country, but they all aim to reduce the amount of waste generated by products and ensure that producers take responsibility for the environmental impacts of their products.

Waste Management Market Trends

• Smart Waste Management Systems: Smart waste management systems utilize sensors and other technologies to maximize waste collection and disposal. These devices can also monitor waste levels in bins and containers and arrange for pickups on their own when necessary. To minimize emissions and fuel consumption, they can also optimize routes and keep an eye on the state of the garbage collection trucks.
• IoT and Data Analytics in Waste Management: Waste management also mostly relies on IoT and data analytics. Waste management companies can easily obtain valuable insights into waste generation patterns and optimize collection and disposal processes by gathering and evaluating data from sensors and other sources. Predictive analytics is another tool they can use to forecast waste generation rates and modify collection schedules to match demand.
• Recovering Energy from Waste: Waste can be converted into energy for use in homes and businesses with the aid of energy recovery technologies like waste-to-energy (WtE) and anaerobic digestion (AD). In contrast to AD technologies, which use microorganisms to break down organic waste and produce biogas, WtE technologies use heat to turn waste into electrical power. These technologies offer a renewable energy source and can contribute to a decrease in the quantity of waste that ends up in landfills.
• Segregation of Waste: A prominent barrier to effective solid waste management is the process of waste segregation. Before the collection of garbage at the source, segregation is done which makes it more efficient, facilitating the recycling of the garbage, and thus reducing the cost of garbage disposal. According to the literature, most households (especially those of underserved communities like slums, etc.) and other establishments dump their garbage in open areas, drains and water bodies, and inappropriate places. In affluent countries like the USA, Germany, Japan, etc., this is a common practice, while in most developing countries including India, municipal waste is collected in mixed form. This aspect can be attributed to several factors such as lack of public knowledge and slower progress in garbage sorting at source.

Report Scope

Waste Management Market Dynamics

Drivers

Increased Urbanization

• The waste production worldwide has increased because of growing urbanization brought about by the rapidly expanding population. Addressing the waste generated by an expanding population requires the implementation of efficient waste management techniques.
• Waste production is also expected to rise with the size of cities. Limited space in urban areas makes waste management difficult. Waste management is essential for sustainable economic growth. This increased waste and rising awareness regarding hazards of ill management of the same are driving up the demand for better waste management services and solutions going forward.

Regulations Related to Waste Management

• Regulations governing global waste management are introduced to make sure that waste is disposed of securely and sustainably. These laws and regulations differ from nation to nation, however, they all seek to minimize the damaging effects caused by waste on the environment. The Basel Convention governs the transboundary movement of hazardous wastes. Basel Convention guarantees the disposal of hazardous wastes in an environmentally responsible way and stops the dumping of hazardous waste in developing nations.

Restraints

High Cost Associated with Waste Management

• Waste management leads to a high cost in terms of capital and investment. The major capital cost is used in the development of landfills, incinerators, and recycling machinery. Moreover, for the development of efficient disposal, collection, and processing of waste there is a need for a well-built logistical system, that further adds up to the operational cost.
• Furthermore, treating hazardous industrial wastes and medical wastes is also very costly due to the requirement of specialized equipment and facilities. Radioactive wastes generally have to be stored in underground repositories. In addition, all medical waste must be burnt off with incinerators which further adds up to the total cost of implementation of waste management.

Implementation of Closed Loop Systems

• A primary obstacle to the successful implementation of a closed-loop system is the technical viability of obtaining and utilizing materials and energy from various sources and streams. Some materials pose challenges in terms of separating, sorting, and cleaning, particularly when combined with other materials or tainted with potentially harmful chemicals. Some materials are also difficult to recycle or degrade, such as plastics, metals or composites.
• Furthermore, some procedures also use a lot of energy, water, or chemicals, which can reduce the advantages of recycling or reuse in the environment. Therefore, technical innovations and improvements are needed to make closed-loop systems more efficient, effective, and accessible. Some closed-loop activities, such as collection, transportation, or processing, can be costly or risky, especially if there is no adequate infrastructure, regulation, or demand. Therefore, economic incentives and policies are needed to create a level playing field and stimulate closed-loop.

Opportunities

Extended Producer Responsibility

• The extended producer responsibility (EPR) policy, holds the producers accountable for the environmental effects of their products throughout their entire life cycle. While EPR laws are different depending upon the nation, they all seek to minimize waste produced by goods and hold producers accountable for their effects on the environment.

Policies for Environmental Sustainability

• Policies related to environmental sustainability are intended to encourage sustainable behaviors and lessen the damaging effects on the environment caused due to waste. These policies aim to decrease waste production, thus boosting the concept of recycling and reuse, and encouraging environmentally friendly methods to manage waste in any form. The circular economy is one of the most significant environmental sustainability policies.

Challenges

Lack of Infrastructure for Recycling

• People living near a polluted environment or a landfill site can suffer serious health consequences due to improper waste disposal. Contact with improperly disposed waste can lead to skin rashes, blood infections, respiratory diseases, growth problems and even reproductive problems. Developed nations such as the United States, Australia, Japan and Germany have effectively established waste management analysis frameworks that enable efficient waste management and ensure that valuable outcomes are achieved through recycling. Countries such as Egypt, Turkey, South Africa, Nigeria, Brazil and the Middle East states have not yet standardized and organized their waste management frameworks, which contributes significantly to poor waste material handling.

Lack of Awareness

• Most people are not aware of proper waste management practices and stick to their traditional approach which leads to a high amount of waste either being incinerated or dumped in landfills. This lack of awareness is hindering the demand for advanced waste management solutions and services around the world.

Waste Management Market Segmental Analysis

By Waste Type

Industrial Waste: 9.2 billion tonnes of industrial waste is generated globally every year. These are wastes from industrial manufacturing processes, often a byproduct with no further use. They include everything from solid waste to chemical and liquid waste generated by factories, laboratories, construction sites engineering firms, mills, and plants. Growing industry and urbanization are two of the main causes of the increase in industrial waste production. Improper handling of industrial waste can harm plants and wildlife, as well as contaminate lakes and groundwater, hence it is essential to manage the industrial waste properly.

Hazardous Waste: Hazardous waste is toxic, corrosive, flammable, or reactive, and hence it poses a serious risk to both human health and the environment. It originates from many places, such as commercial endeavors, household goods, and industrial processes. To reduce risks and manage the waste effectively the waste must be identified and classified properly. Hazardous waste management is a critical environmental issue affecting public health, environmental sustainability, and the global economy. Proper handling, treatment, and disposal of hazardous waste is essential to prevent pollution, protect ecosystems, and safeguard human health.

E-Waste: E-waste or discarded electrical and electronic equipment poses significant environmental and health risks due to the toxic substances it contains. Recycling and disposal of e-waste properly is very essential for reducing the risk and guaranteeing sustainability. New and improved electronic products have been developed as a result of the rapid advancements in technology. The timely release of new electronic products and the need for updating of existing devices have led to an alarming increase in the generation of e-waste.

Municipal Waste: Solid or semi-solid commercial and residential waste produced in cities or other approved areas is referred to as municipal solid waste; treated biomedical waste is also included, however hazardous industrial waste is not considered as municipal waste. Globally, an estimated 2.01 billion tonnes of municipal solid waste (MSW) are produced each year.

Plastic Waste: Global production of plastic waste was estimated to be 367 million tonnes in 2020, and it is projected to grow significantly in the future. Reducing the initial generation of plastic waste is important, however, managing and disposing of the waste that has already been produced is equally important to address the plastic crisis. While preventing the generation of plastic waste overall is desirable, environmentally sound disposal of plastic waste once it is generated is essential to protect human health and the environment.

Others: The Others segment includes agricultural waste and organic waste. Agriculture, the backbone of our food supply chain, is also a significant waste generator. This category includes organic waste such as crop residues, animal manure, and agricultural byproducts. While some of this waste can be recycled as compost or biofuel, improper disposal methods can lead to soil degradation and water pollution. Organic waste is a broad term that includes all plant and animal materials that can decompose naturally. Food scraps, paper, yard waste, cardboard, and some kinds of plastic that are not harmful are included in this. Nutrient-rich soil is produced by composting organic waste that is suitable for planting new plants. Both the quality of the soil and the quantity of waste that ends up in landfills are improved by this process.

By Service Type

Collection: Collection is part of waste management that involves the transportation of waste from the point of use and disposal to the treatment point. Proper collection of solid waste is important for protecting public health, safety, and environmental quality. It is a labor-intensive activity that accounts for about three-quarters of the total cost of waste management.

Open Dumping: Open dumping being a cost-effective waste management option also has significant negative impacts on the environment and public health. Emissions such as dioxins, furans, mercury, and other hazardous substances, from the open dumpings, can lead to air, water, and soil pollution. Therefore, open dumping is prohibited in many places. An open dump is also defined as a landfill where solid waste is disposed of in a manner that does not protect the environment and can be openly burned.

Incineration/Combustion: Incineration is a waste treatment process that involves burning the substances contained in waste materials. Industrial waste incineration facilities are commonly referred to as waste incinerators. The waste streams that are commonly incinerated include municipal garbage, medical and infectious waste from medical facilities, sludge from municipal wastewater treatment plants, hazardous waste streams from industrial processes, and materials from cleaning abandoned landfills.

Landfill: Disposing of waste in landfills reduces their impact on the environment and helps provide a sorting place for solid waste. Landfills have been around for quite some time, and their proven track record of effectively managing waste while minimizing risks to public health and the environment enables them to dominate the global market. The demand for composting and anaerobic digestion of waste is expected to grow significantly during the forecast period. The increasing emphasis on the use of waste-to-energy technologies is expected to help this segment gain more traction in the coming years.

Recycling: The process of turning waste materials into usable products is known as recycling. For creating new products, waste materials are first gathered, sorted, and then processed. Recycling helps in reducing greenhouse gas emissions, the quantity of waste that ends up in landfills, and the use of natural resources. Recycling further helps in reducing the quantity of waste that ends up in landfills, which is one of the major sources of pollution. The landfills release greenhouse gases like carbon dioxide and methane, thereby contributing to climate change. Recycling helps to reduce this problem. Recycling is therefore an essential part of waste management since it helps conserve natural resources, reduces the amount of garbage that ends up in landfills and saves energy.

By End-Users

Industrial: The industrial segment has accounted revenue share of 69% in 2023. As the economy grows and industrial production increases, the generation of industrial waste is also increasing. Industrial waste generation is increasing in several sectors, including mining, construction, and manufacturing. Resource and waste recovery programs are becoming increasingly common across a variety of industries. These include efforts to reduce waste production, reuse materials, and recycle industrial byproducts. These initiatives could reduce waste management costs while making money from recycled materials.

Commercial: The commercial segment has generated revenue share of 22% in 2023.Rapidly increasing commercial activity and increasing use of commercial establishments make commercial waste the fastest-growing market segment. Rising consumer awareness about proper waste disposal and the adoption of corporate social responsibility initiatives by companies are also expected to help boost market growth in this segment in the long term.

Residential: The residential segment has captured revenue share of 9% in 2023. As the global population continues to grow, there are more households, increasing household waste. Increasing population density in cities and towns where households generate a lot of waste is a result of urbanization trends. Household waste management services need to be efficient. There has been an increased participation in household waste reduction and recycling programs due to the growing public awareness about recycling and environmental issues. Household waste management services are becoming more effective and efficient because of technologically advanced solutions such as smart waste collection systems and smartphone apps for scheduling pickups.

Waste Management Market Regional Analysis

What is driving Asia-Pacific dominance in the waste management market?

The Asia-Pacific waste management market size was accounted for USD 448.10 billion in 2023 and is predicted to surpass around USD 761.55 billion by 2033. As more and more people move from rural to urban areas across Asia Pacific, the amount of solid waste is projected to increase rapidly. Industrialization has increased urbanization in Asia Pacific through the migration of rural residents to urban areas and the expansion of towns into major cities.

The region's steady economic progress also provides customers in Asia Pacific with more money to spend, which has ultimately increased the demand for waste management services. The increasing understanding of the harmful environmental impacts of non-eco-friendly packaging such as plastic packaging and other plastic product components has significantly influenced the waste management business in this region.

North America waste management market significant impact

The North America waste management market size was estimated at USD 324.95 billion in 2023 and is expected to reach around USD 552.26 billion by 2033. The North America market is driven by government regulations that require waste management across various industries and expanded infrastructure. The Resource Conservation and Recovery Act and the Waste Shipment Regulation are two government regulations that are expected to have a significant impact on the market. These regulations were enacted to improve service.

Europe waste management market trends

The Europe waste management market size was valued at USD 383.48 billion in 2023 and is projected to hit around USD 651.72 billion by 2033. Every year, the EU generates 2.2 billion tons of waste. More than a quarter of this is municipal waste: everyday garbage collected and treated by municipalities, mainly generated by households. Data shows that the amount of waste and the way it is managed varies greatly across EU countries, but there is a trend toward more recycling and less landfilling. To reduce waste and its impact on the environment, the EU has adopted ambitious recycling and landfilling targets and is working on packaging waste. The goal is to encourage the transition to a more sustainable model known as the circular economy.

LAMEA waste management market is growing

The LAMEA waste management market was valued at USD 167.64 billion in 2023 and it is expanding to USD 284.90 billion by 2033. The LAMEA is growing due to significant urbanization and infrastructure development in the region which includes construction of buildings, roads, and other projects. This has in turn resulted in the generation of a significant amount of construction and demolition waste. The huge amount of waste generated and increasing environmental concerns towards waste recycling services are expected to boost the market growth in the region.

Moreover, Saudi Arabia, Qatar, Kuwait, and the UAE are among the countries with the highest amount of waste generation, which increases the adoption of waste management equipment and boosts the growth of the market. Moreover, the rise in residential and non-residential construction activities is promoting the use of waste management equipment in the construction industry. This factor is driving the growth of the market during the forecast period.

Waste Management Market Top Companies

• Waste Management Inc. 
• Veolia Environnement S.A. 
• Republic Services, Inc. 
• Remondis AG & Co. Kg 
• Casella Waste Systems, Inc. 
• Clean Harbors, Inc. 
• Waste Connections, Inc. 
• Covanta Holding Corporation 
• FCC Environment 
• Waste Industries 
• Renewi plc 
• Stericycle, Inc. 
• Biffa Group Limited 
• Hitachi Zosen Corporation 
• China Everbright International Limited 
• URBASER 
• Daiseki Co., Ltd
• Newater Technology, Inc. 
• GFL Environmental Inc. 
• Bingo Industries 

Many competitors in the smart waste management industry have chosen business expansion, agreements, acquisitions, and partnerships as their main development strategy to expand their service portfolio. In November 2023, Biffa Ltd, one of the leading companies in waste management, completed the acquisition of Hamilton Waste and Recycling Limited, currently the largest company in the UK providing construction and demolition waste services. In June 2023, Masterflex and REMONDIS entered into a partnership to build a circular economy for industrial products made of engineering plastics and implement it as an example in the hose and connection systems market.

CEO statements

Kevin Hull, CEO of Emergent Waste Solutions:

"We determined that if we're going to make an impact in this world, we've got to make being profitable (and) economically sustainable a part of the equation as well. And that's where we're unique in the whole field of environmental technologies."

Chris Gannon, President and CEO of 374Water Inc.:

"The economic and environmental benefits of waste destruction versus disposal are compelling, and our AirSCWO technology can bring these benefits to market at scale. This technology can deliver profoundly positive impacts to global water and waste management challenges for generations to come."

Recent Developments

Key players in the waste management industry are pivotal in delivering a variety of innovative construction solutions, such as prefabrication techniques, sustainable materials, and advanced digital technologies. Some notable developments in the waste management sector include:

• In June 2024, ProAmpac introduced a new recyclable bag for food packaging, demonstrating the company's commitment to sustainability and innovation in packaging solutions. This new product underscores ProAmpac's commitment to reducing environmental impact through advanced, eco-friendly packaging technologies.
• In May 2024, a new waste management software was launched in the North American market to simplify and automate waste management operations. ISB Global was behind the launch of Waste and Recycling One (WR1) software, which helps waste management operators optimize their business model.
• In February 2024, Ingram Equipment Company (IEC) partnered with Air Burners, an air curtain burner system provider, to offer advanced and efficient waste management solutions to customers around the world.
• In January 2024, a new waste management project was launched in Karnataka, India, through a collaboration between Xiaomi and Stonesoup Trust. The program was designed to promote sustainable waste management practices and help manage waste locally.

These advancements mark a notable expansion in the waste management market, driven by strategic acquisitions and innovative projects. The focus is on boosting sustainability, enhancing construction efficiency, and broadening product offerings to meet diverse building needs.

Market Segmentation

By Waste Type

• Hazardous Waste
• E-waste
• Municipal Waste
• Plastic Waste
• Industrial Waste
• Others

By Service Type

• Collection
• Open Dumping
• Incineration/Combustion
• Landfill
• Recycling

By End-User

• Residential
• Commercial
• Industrial

By Regions

• North America
• Europe
• APAC
• LAMEA