Global Waste Management Market Size

Waste Management Market Analysis

The Global Waste Management Market is expected to register a CAGR of 5% during the forecast period.

Rapidly growing economies, urbanization and the increasing population have led (materially intensive) to an increase in the resource consumption, and consequently the release of large amounts of waste into the environment. Observing from a global perspective, current waste and resource management lacks a holistic approach which covers the whole chain of product design, raw material extraction, production, consumption, recycling and waste management. A scarcity of land for the effective waste disposal and focus on the energy and resource recovery is driving the market growth. On the other hand, lower sustainability in waste management and low importance towards waste management are restricting market growth. In addition, the rise in the purchase of recyclable products is providing immense opportunities for market growth. The growth of the global waste management market is driven by an increase in the adoption of proactive government measures to reduce illegal dumping.

COVID-19 impacted the waste management industry from the focus of segment shift; as during lockdown, the residential segment generated more amount of waste as compared to industrial and commercial centres, as industries and offices were partially or completely shut. However, reviving economies and resuming production activities along with start of vaccination drives in numerous countries will increase the amount of waste generation and lead to re-initiation of waste recycle industry and waste management companies at their full-scale capacity.