The global waste management market was valued at 1.3 trillion U.S. dollars in 2022. This market was projected to register a compound annual growth rate (CAGR) of 5.4 percent from 2023 to 2030, to reach 1.96 trillion U.S. dollars in the latter year. Waste management deals with municipal, hazardous, electronic, and industrial waste. Industrial waste accounts for the largest share of the market, by revenue.
Waste generation is surging
A key driver for the growth of the global waste management market size is the rise in the world’s population and the subsequent increase in waste generation. In 2016, global municipal solid waste generation was estimated at 2.02 billion metric tons and was expected to surpass three billion metric tons by 2050. Increasing government regulations are also expected to support market growth.
How is waste managed?
Waste management consists of collecting, transporting, disposing, recycling, and monitoring waste items in a manner that minimizes environmental and health impacts. There are several treatment and disposal methods available, including composting, recycling, landfilling, and waste-to-energy incineration. However, the most common method of waste disposal worldwide is open dumping, a practice widely seen in low-income countries.
