Overview
Market Research Future's report on the global Wet Waste Management market divulges various vital market figures. MRFR has projected that the Global Wet Waste Management market will witness a CAGR of 5% during the forecast period of 2017 to 2023. Wet waste or organic waste is generally heavy due to high moisture content and is a truly significant market due to the massive amounts of waste generated on a daily basis.
Awareness regarding waste generation and management has grown significantly and is a critical factor which spurs the global Wet Waste Management market. New waste management technologies such as solutions which convert waste to energy are novel and innovative options which are further augmenting the growth of the market. Global concern regarding the environment has lead to increased activities which promote environmental sustainability and increasing use of eco-friendly fuels. Moreover, government initiatives are widely undertaken to increase Global Wet Waste Management awareness; this is expected to boost the market in the coming years as government policies regarding waste disposal and segregation of waste will affect the market positively.
Segmentation
The Global Wet Waste Management Market is segmented on the basis of service & equipment, waste type, source, and region. By service & equipment, the market is segmented into processing, disposal & landfill, storage, sorting, and collection & transportation. The processing segment accounts for the most significant segment due to the growing population which is generating increasing amounts of waste thus leading to an increase in waste management services.
By waste type, the market is segmented into food scrap, agricultural waste, medical waste, meat & bones, and shredded paper. Food scraps account for the largest segment due to the significant issue of food wastage in both the residential and commercial sectors.
By source, the market is segmented into household & municipal waste, commercial waste, industrial waste, and healthcare & medical waste. The household & municipal waste segment dominates the market due to the sheer volume of wet waste produced by this specific demographic.
Regional Analysis
The Asia Pacific accounts for the largest share of the global market and is expected to grow at the highest CAGR during the forecast period. The increasing problem of handling wet waste and the adoption of new technologies such as conversion of wet waste to energy will assist in the region retaining its leadership position. The region accounts for some of the highest generations of wet waste due to the lack of advanced disposal methods & technologies as well as the presence of a massive population. improving economic conditions, growing use of eco-friendly materials and increasing concern regarding environmental impact are major contributors who make the APAC market highly lucrative and will result in the evolution of Global Wet Waste Management.
Meanwhile, Europe and North America are significant markets with well established wet waste disposal solutions. Government initiatives and support to promote segregation and waste management innovation play key roles in the development of the market in these regions. These regions are using wet waste actively for compost and other purposes.
Key Players
Notable Market players included in MRFR's report are Covanta Energy Corporation, Waste Management Inc., Advanced Disposal Services, Inc., Republic Services Inc., Waste Ventures India, Panda Recycling, Stericycle, SUEZ Environment Co. S.A., Fomento de Construcciones y Contratas, Remondis SE & Co. Kg, Clean Harbors Inc., Progressive Waste Solution Ltd., Veolia Environment S.A, Sampurn(e)arth Environment Solutions Pvt. Ltd., and Eco-Wise Waste Management Pvt. Ltd.
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