Recycling Market

The global waste recycling services market was assessed at USD 54.39 billion in 2020, with a compound annual growth rate (CAGR) of 5.2 percent projected from 2020 to 2028. Over the projected period, increased consumer awareness of the benefits of garbage recycling is expected to have a favourable impact on market growth. Impositions of lockdown during the COVID-19 pandemic resulted in a new category of waste known as pandemic waste, which includes gloves, masks, and respirators, as well as their packaging, which increased waste generated owing to disruptions in waste collection activities. Over the projected period, rising waste management concerns, combined with increasing waste disposal issues, are expected to fuel demand for trash recycling services. Adoption of strict rules has boosted trash recycling research and development, which is projected to drive market expansion during the forecast period. The development of different waste disposal methods and procedures has evolved from increased knowledge regarding appropriate waste disposal for the maintenance of animal and human health.

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