Global Waste And Recycling Market Projected to Surpass $39.7 Billion by 2029 with 5.3% Annual Growth

What combination of drivers is leading to accelerated growth in the waste and recycling market?
The surge in e-waste production is anticipated to spur the expansion of the waste and recycling market in the future. E-waste production signifies the creation of electronic waste, encompassing discarded electronic components and devices due to replacements, upgrades, or dispositions of electronic goods. The phenomenal pace of technological advancements is the primary cause for the escalating e-waste production, necessitating frequent upgrades and disposals of electronic devices. Waste and recycling structures assist in managing this escalating e-waste production by enabling the appropriate disposal, recycling, and extraction of valuable materials from discarded electronic devices. To illustrate, the United Nations Institute for Training and Research (UNITAR), a Switzerland-based, United Nations dedicated training branch, reported that global e-waste production reached an unprecedented 62 million metric tons in 2022 and is forecasted to rise by 32% to 82 million metric tons by 2030. Consequently, the surge in e-waste production will fuel the expansion of the waste and recycling market.

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What is the projected compound annual growth rate (CAGR) of the waste and recycling market from 2025 to 2034, and what factors influence it?
Over the past few years, the waste and recycling market size has seen significant growth. It is projected to increase from $30.7 billion in 2024 to $32.26 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%. Factors contributing to this growth during the historic period include urbanization, population growth, regulatory frameworks, heightened public awareness of environmental issues, and economic development.

Expectations are high for the waste and recycling market size as it is predicted to observe significant expansion in the coming years. The anticipated growth rate of 5.3%, compound annually, will push the market to $39.7 billion by 2029. The anticipated surge during the forecast period is due to factors such as the implementation of circular economy initiatives, increasing production of e-waste, tightening of regulations, growing consumer consciousness, urbanization and the development of infrastructure. Key trends projected for the forecast period encompass the integration of technology, the improvement of data analytics, the implementation of smart waste management systems, innovative composting technologies, and the use of robotic systems.

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What are the emerging trends shaping the future of the waste and recycling market?
Leading businesses active in the waste and recycling sector are leveraging digital transformation and automation technologies, including Low-code platforms, to boost operational efficacy and gain superior data analytics for improved decision making and resource control. These platforms simplify and automate waste recycling operations, sync with pre-existing systems, and offer real-time analyses to improve function effectiveness and compliance. In May 2024, for instance, the UK software company ISB Global Ltd introduced its Waste and Recycling One (WR1) program in the United States. The WR1 program automates and standardizes waste and recycling procedures and interfaces with ERP systems like SAP to provide a consolidated source of master data. The program is based on the OutSystems low-code platform, which improves operational efficiency, cuts expenses, and supersedes outmoded legacy systems without the need for new software integration. The WR1 program also enhances compliance reporting by adjusting to regulatory modifications and providing real-time operational transparency.

What are the major segments of the waste and recycling market and their role in driving growth?
The waste and recycling market covered in this report is segmented -

1) By Type: Municipal Waste, Industrial Waste, Hazardous Waste, Others
2) By Service Type: Collection, Transportation, Disposal, Others
3) By Application: Packaging And Consumer Goods, Construction, Landscaping Or Street, Other Applications

Subsegments:
1) By Municipal Waste: Household Waste, Commercial Waste, Construction and Demolition Debris, Yard Waste
2) By Industrial Waste: Manufacturing Waste, Mining Waste, Energy Production Waste, Agricultural Waste
3) By Hazardous Waste: Chemical Waste, Biomedical Waste, Electronic Waste (E-Waste), Radioactive Waste
4) By Others: Organic Waste, Recyclable Materials (e.g., paper, plastic, metals), Specialty Waste (e.g., pharmaceutical waste, bulky waste), Construction and Demolition Recyclables

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Which regions are key players in the growth of the waste and recycling market?
North America was the largest region in the waste and recycling market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waste and recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the waste and recycling market?
Major companies operating in the waste and recycling market are Veolia Environnement S.A., Waste Management Inc., Remondis SE & Co. KG, Republic Services Inc., Suez S.A., Waste Connections Inc., Clean Harbors Inc., Hitachi Zosen Corporation, Stericycle Inc., Sociedad Anónima Industrias Celulosa y Papelera de Ávila, Biffa plc, Reworld Waste LLC, Recology Inc., FCC Environment Limited, Daiseki Co. Ltd., Urbaser S.A., Phoenix Technologies International Inc., Custom Polymers Inc., Biomedical Waste Solutions LLC, Envision Plastics Industries LLC, PolyQuest Inc., Landbell Group, Verdeco Recycling LLC, Bigbelly Inc., Valicor Environmental Services Inc.

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What Is Covered In The Waste And Recycling Global Market Report?

•Market Size Forecast: Examine the waste and recycling market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the waste and recycling market for a structured understanding.
•Key Players Overview: Analyze major players in the waste and recycling market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the waste and recycling market.
•Segment Contributions: Evaluate how different segments drive overall growth in the waste and recycling market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the waste and recycling market.
•Industry Challenges: Identify potential risks and obstacles affecting the waste and recycling market.
•Competitive Landscape: Review strategic developments in the waste and recycling market, including expansions, agreements, and new product launches.

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