Nutrient Recycling Market is Estimated To Witness High Growth Owing To Circular Economy Trends
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Nutrient Recycling Market |
Market
Overview:
The nutrient
recycling market involves recovering nutrients from various organic residues
and converting them into valuable products such as fertilizers. Nutrient
recycling helps reduce the carbon footprint and manages waste in a sustainable
way. It provides an environment-friendly alternative to landfilling and
incineration of organic residues. The recovered nutrients can replace synthetic
fertilizers and support sustainable agriculture.
Market key trends:
The rising emphasis on circular economy is expected to be a major trend
driving the nutrient recycling market. Circular economy aims to eliminate waste
and promote the continual use of resources. Nutrient recycling is aligned with
the principles of circular economy as it recycling organic residues into
valuable nutrients. It helps establish a closed-loop system for nutrient
management. Governments across regions are implementing policies and programs
to promote circular economy practices including nutrient recycling. For
instance, the European Union Action Plan for the Circular Economy provides a
framework to promote sustainable nutrients management through recycling of
organic waste.
Porter’s Analysis
Threat of new entrants: Low capital requirements and government regulations
poses low threat of new entrants in the market. However, established players
dominate the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the
availability of substitute products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to
availability of alternative raw material suppliers.
Threat of new substitutes: Threat of substitution is low as nutrient recycling
solutions offer unique environmental and economic benefits.
Competitive rivalry: Intense due to presence of many global and local players.
SWOT Analysis
Strength: Nutrient recycling helps reduce environmental pollution and
recover resources. It is a sustainable solution for waste management.
Weakness: High initial investment and operational costs. Dependency on waste
streams.
Opportunity: Increasing global food demand and stringent regulations favor the
market. Emerging economies present new areas of growth.
Threats: Political instability and fluctuation in raw material prices are key
threats. Competition from conventional waste management techniques.
Key Takeaways
The global Nutrient
Recycling Market Demand is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period,
due to increasing global food demand. The market size for 2023 is US$ 4.98 Bn.
Regional analysis: North America dominates the market currently due to
stringent regulations regarding waste management and pollution control. Asia
Pacific is forecasted to be the fastest growing market due to rapid
industrialization and urbanization.
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, Â Inc., AgriReNew, Â Inc., Smithfield Foods, Â Inc., Aqua
Green, Elemental Enzymes, Suez, Bioprocess Control.
Read More:
https://www.marketwebjournal.com/the-new-avanue-for-nutrient-recycling-market/
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