Wet Waste Management Market
Wet waste management entails the supervision for proper handling and disposal of liquid and solid wastes. Removal of waste from public areas can reduce the risks to public health. The global wet waste management market report by Market Research Future (MRFR) contains a comprehensive analysis of the industry facilitated with pertinent drivers, opportunities, and challenges. The COVID-19 outbreak and effects have been taken into considerations for making projections for the period of 2023 to 2030 (forecast period).
Market Scope
The global Wet Waste Management Market is expected to grow at a CAGR of ~ 5% during the forecast period.
Segmentation
Based on the service & equipment, the market is segmented into collection & transportation, storage, sorting, processing, and disposal & landfill. The processing is projected to dominate the global wet waste management market analysis and is likely to continue over the forecast period, 2022-2030 due to growing population, coupled with growing waste generation and management services.
Based on the source, the market is segmented into household & municipal waste, commercial waste, industrial waste, healthcare & medical waste, and other waste. The household & municipal waste dominated the market in 2021 and is projected to be the fastest-growing source over the review period. The global increase in the urbanization with humongous population growth is creating a wide scope household & municipal waste generation.
Based on the waste type, the market is segmented into food scrap, meat & bones, agricultural waste, medical waste, shredded paper, and others. The food wastage is considered as one of the major problems across the world, a huge amount of food is wasted across the world through the residential and commercial sector. Thus, making food scrap as a prominent segment as a waste type in global wet waste management market.
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Regional Analysis
Among these, Asia Pacific is anticipated to grow at highest CAGR and hold the largest market share in the global wet waste management market. The growing awareness for wet waste management of the region with forthcoming advanced new technologies such as waste to energy solution, also the growing utilization of eco-friendly materials and increasing ecological sustainability concerns, improved economic conditions of major emerging nations. All these factors are majorly contributing towards the evolution of the wet waste management market in Asia Pacific region.
Europe held the second largest market share in 2021. The market for wet waste management is primarily driven due to the increasing government initiatives and support schemes to promote waste management. All the major countries in Europe have sponsored various private players in the waste management through their municipal commission at the city level to promote health and hygiene benefits across the population. North American countries are practicing wet waste management techniques from the last few decades and are expected to witness the same stagnant growth over the forecast period. The U.S. and Canada are the prominent countries, which are immensely concentrating on promoting wet waste management at an extensively level to obtain compost for farms and biofuels as transport fuels.
Competitive Outlook
SUEZ Environment Co. S.A., Veolia Environment S.A., Republic Services Inc., Panda Recycling, Sampurn(e)arth Environment Solutions Pvt. Ltd., Remondis SE & Co. Kg, Stericycle, Waste Ventures India, Eco Wise Waste Management Pvt. Ltd., Waste Management Inc., Progressive Waste Solution Ltd., Covanta Energy Corporation, Advanced Disposal Services, Inc., Clean Harbors Inc., and Fomento de Construcciones y Contratas are key players of the global wet waste management market.
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