Waste Management Industry Will Grow Due To Increased Disposable Income And Demand For Packaged Foods And Beverages, 2020 – 2027 | Grand View Research, Inc.

Waste Management Industry Will Grow Due To Increased Disposable Income And Demand For Packaged Foods And Beverages, 2020 - 2027 | Grand View Research, Inc.

“Grand View Research, Inc.”
According to new study by Grand View Research, due to COVID-19, in 2020 the industry witnessed a segmental shift, the residential sector generated more waste as compared to commercial and industrial sector owing to lockdowns in various parts of the world.

Procurement Outlook

Apart from keeping the environment clean and fresh, hiring a waste management company has other long-term benefits such as:

  • Increases Operational Efficiency
    • Waste management companies help organizations to sort waste appropriately, which reduces the option of land filling. Proper sorting also helps in discovering wastes which can be reused and hence reducing the amount of waste
  • Adherence to Compliance
    • Governments of developed and growing economies are implementing stringent rules and regulations for dumping waste. Hence by adopting a robust waste management plan, will help the organizations to meet necessary compliance and also make them eligible for grants and other incentives.
  • Introduction of New Revenue Model
    • Waste generated from business processes can be sorted, and materials which are not required by the organizations can be sold off to other businesses as raw materials
  • Better Brand Image and Employee Morale
    • Good waste management practices increase transparency and attract positive attention from customers which enhances the brand value. A positive enrollment towards a green environment also promotes cleaner and healthier workplace, building pride in employees towards the organization


The key procurement strategies for efficient waste management are:

  • Identifying cost components
    • Waste management companies operate on “Bundled Fee” pricing model which has hidden costs. It is recommended to break down the costs into different categories to improve transparency, such as: Pick Up Costs, Disposal Costs, Landfill Levy Changes, etc.
  • Selecting a sophisticated supplier
    • On-boarding a supplier who provides detailed periodic reports by using “in-cabin management systems” and “software generated documentation” is important for operational efficiency. If not organizations might have to spend time to monitor waste and manually document the information gathered


Demand Outlook

The global waste management market size was estimated at USD 398.6 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 5% from 2021 to 2027. Key driving factors include strict waste management regulations from various governments, focus on sorting and treatment of different types of waste before disposal, composting of bio-degradable waste, etc.

Due to COVID-19, in 2020 the industry witnessed a segmental shift, the residential sector generated more waste as compared to commercial and industrial sector owing to lockdowns in various parts of the world.

APAC held the largest market share of waste management services due to increased disposable income and demand for packaged foods and beverages from growing economies such as India, China, Australia, and South Korea.

Grab your copy, or request for a free sample of the “Waste Management Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.

Cost Drivers

Increasing recycling is the major step to reduce disposal costs and improving the bottom line of any organization. Waste can be used as raw materials for new products, it helps in conserving water, energy, land, and raw materials.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.

Our services include (not limited to):

  • Market Intelligence involving – market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
  • Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

 

Browse through Grand View Research’s collection of procurement intelligence studies:

  • Lubricants and Greases Market Procurement Intelligence – The global lubricants market size was valued at USD 125.81 billion in 2020 and is expected to grow at a CAGR of 3.7% from 2021 to 2027. The growing manufacturing of vehicles and their spare parts is expected to fuel the demand for automotive oils and greases. Asia Pacific is the largest market for lubricants. Prominent trends that the market is witnessing include the evolution of bio-based lubricants, the improvement of low-viscosity lubricants to fit present machinery, demand for polyamide resins in industrial applications, and growth opportunities/investment opportunities.

 

  • Managed Mobility Services Market Procurement Intelligence – The global Managed Mobility Services market was valued at USD 14.9 billion in 2020 and is expected to grow at a CAGR of 32.7% from 2020 to 2025. While organizations had been implementing MMS services for a while now due to the rising tendencies of the BYOD (bring your own devices) trend, the COVID pandemic has hurried up the adoption of MMS for corporates. With several companies rethinking about opening their premises at 100% capacity, frameworks to implement MMS are being carried out. Once implemented, the contractual service and maintenances of these frameworks will help drive the market through revenue generated from the installed base.

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