Wet waste refers to the organic waste usually heavy in weight due to dampness and can be segregated on the basis of biodegradable and non-biodegradable waste. Wet waste generally consist of vegetable waste, food waste, tea leaves, shredded newspaper etc. Wet waste management on the other hand is the process of compositing the waste to use it as manure, biogas etc. Further, compositing is the process of shattering down the organic matter in the presence of water and air, using small insects and microorganisms present in the air. The end product, called compost, is usually rich in readily usable plant nutrients forming a part of healthy soil. Moreover, removing waste from public areas helps in reducing risks associated to health, decreasing exposure to biohazards and also reduces infestation of pests. Wet waste management also yields waste energy which can further be deployed in generating electricity.
The global wet waste management market can be segmented on the basis of source, service and type of waste. On the basis of source, the global wet waste management market can be segmented into municipal, industrial, commercial, healthcare and others (glues, construction, solvents etc.). On the basis of service, the global wet waste management market can be segmented into collection and transportation equipment, storage equipment, sorting equipment, processing equipment and disposal equipment. On the basis of type of waste, the global wet waste management market can be segmented into meat & bones, food waste, agricultural waste, medical waste, shredded paper and others.
Rising awareness for wet waste management is a key factor driving the global wet waste management market. Moreover, introduction of new wet waste management technologies such as waste to energy solutions is another major factor fuelling the growth of the overall wet waste management market. Increasing environmental sustainability and growing usage of eco-friendly fuels is a key element driving the growth of the global wet waste management market. Increasing government initiatives to spread wet waste management awareness among the individuals is further expected to enhance the overall market during the forecast period. However, lack of participation from industries and other sectors such as commercial, food and healthcare is expected to hamper the overall global wet waste management market growth during the forecast period. Moreover, lack of treatment plants and landfill sites is another factor which is expected to rise up as a challenge to the global wet waste management market over the forecast period.
On the basis of region, the global wet waste management market is divided into seven key regions including North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. In terms of market growth, North America is expected to witness the highest growth during the forecast period followed by Asia-Pacific and Western Europe. Moreover, high waste generation from medical and industrial sectors as well as strict regulations by European Commission is expected to drive the demand for wet waste management in the Western Europe region.
Major companies involved in the wet waste management are Clean Harbors Inc., Remondis SE & Co. KG, Waste Management Inc., Republic Services Inc., Veolia Environment S.A., Suez Environment, Progressive Waste Solution Ltd., Republic Services Inc., Stericycle, Advanced Disposal among others.
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