The global market for waste management services is valued at US$ 1,499.3 billion in 2022 and is projected to reach US$ 2,094.5 billion by 2032, with a compound annual growth rate (CAGR) of 3.4% [f02df197]. Waste management plays a crucial role in mitigating environmental impacts, protecting public health, and promoting a circular economy. Technological advancements, regulatory frameworks, and evolving waste composition are key factors shaping the market [f02df197]. The increasing population and urbanization contribute to the growing amount of waste generated, which poses challenges for waste management systems. However, these challenges also present opportunities for innovation [f02df197]. Staying informed about the latest trends in the waste management market is essential for industry players and policymakers [f02df197].
In October 2020, Waste Management acquired Advanced Disposal Services, expanding its services to approximately 3 million new customers across 16 states in the eastern United States [f02df197]. In July 2021, Stericycle partnered with UPS healthcare to handle the reverse logistics of medical waste [f02df197]. In February 2021, Biffa Group acquired Shop Group, which specializes in redistributing surplus food and household products [f02df197]. These recent developments highlight the importance of the waste management market in creating a sustainable and environmentally conscious society [f02df197].