The Global Nutrient Recycling Market Growth Accelerated By Sustainable Waste Management

NUTRIENT RECYCLING MARKET
Nutrient Recycling Market

Nutrient recycling helps in the recovery of nutrients like nitrogen and phosphorus from organic wastes including food waste, agricultural residues, sewage sludge, animal manures and converting them into recycled products. These nutrients are valuable resources and help provide nutrients to soil and cut down the use of virgin resources. The processed organic materials have applications as fertilizers and soil conditioners in farming.


The global Nutrient Recycling Market is estimated to be valued at US$ 4.98 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:


Strict government policies regarding sustainable waste management and recycling are promoting the growth of the nutrient recycling market. Many governments worldwide have implemented laws to ban food waste from landfill sites and mandate its conversion into compost or other usable materials. This is driving several companies to offer innovative nutrient recycling solutions. For instance, the European Union's Circular Economy Action Plan aims to make the EU economy sustainable by transitioning towards a model of reuse, repair, and recycling existing materials and products. The plan focuses on promoting nutrient recycling and reuse of resources. Similar such regulatory norms in other regions are accelerating the demand for nutrient recycling solutions.

Segment Analysis


The global nutrient recycling market is dominated by the organic fertilizer segment. This segment accounted for over 50% of the market share in 2023 owing to the rising preference for organic food production and demand for sustainable agricultural practices. The organic fertilizer segment utilizes nutrient recycling technologies to efficiently convert animal by-products, food waste, and sewage into organic fertilizers, thereby limiting environmental pollution from waste and providing an eco-friendly source of plant nutrients.

Key Takeaways


The global nutrient recycling market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis showed that North America currently dominates the market attributed to stringent regulations regarding waste management and recycling in the US and Canada. The region accounted for around 35% market share in 2023. Key players like Ostara Nutrient Recovery Technologies Inc. and Nutrient Recovery & Upcycling LLC based in North America are pioneers in nutrient recycling technologies like struvite precipitation which recycles phosphate from wastewater.

Europe is the second largest market for nutrient recycling and is expected to grow at the fastest pace during the forecast period. This can be accredited to pro-environment policies by the European Union favoring sustainable waste management practices. Countries like Germany, UK, and France have implemented frameworks to promote recycling of nutrients from different waste streams including food waste, sewage, and farm waste. Major European players in the market include Cambi AS and AgriProtein Holdings Ltd.

The Asia Pacific region is poised to emerge as a lucrative market for nutrient recycling till 2030. Rapid urbanization and industrialization have led to exponential rise in waste generation across countries like China, India, and Indonesia presenting opportunities for nutrient recycling. Additionally, growth of organic farming in Asia will drive demand for recycled organic fertilizers. Key market participants seeking to leverage opportunities in Asia Pacific include Anuvia Plant Nutrients and Ostrevent.

Key Takeaways


The Global Nutrient Recycling Market Demand is expected to witness high growth driven by stringent environmental regulations, sustainable waste management practices, and rising organic farming. North America currently dominates the market due to early adoption of technology and pro-environment policies. Europe is the fastest growing region on account of EU framework to promote recycling. Asia Pacific presents lucrative opportunities for key players owing to immense waste generation and growth in organic farming in countries like China and India.

Key players operating in the nutrient recycling market are Ostara Nutrient Recovery Technologies Inc., Nutrient Recovery & Upcycling LLC, Cambi AS, AgriProtein Holdings Ltd., Anuvia Plant Nutrients, Ostrevent, Veolia, BioHiTech Global Inc., DVO, Inc., AgriReNew, Inc., Smithfield Foods, Inc., Aqua Green, Elemental Enzymes, Suez, Bioprocess Control. These players are focusing on innovations to enhance nutrient recovery efficiency from different waste streams and development of organic-certified recycled fertilizers



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https://www.ukwebwire.com/nutrient-recycling-market-is-expected-to-be-flourished-by-the-adoption-of-sustainable-waste-management-practices/


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