by Nutrient recycling is an emerging area of waste management that involves recovering nutrients like nitrogen, phosphorus, and potassium from organic waste streams and converting them into reusable fertilizer products. Organic wastes from food processing industries, animal farms, and municipalities contain rich nutrients that are valuable for agricultural applications. Instead of sending these wastes to landfills, nutrient recycling provides an eco-friendly way to treat organic waste while also producing fertilizers that can replenish soil nutrients. The recovered fertilizers are cost competitive and can partially replace conventional fertilizers. This dual benefit of waste treatment and nutrient recovery is driving increased adoption of nutrient recycling technologies across various sectors.
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:
One of the key trends in the nutrient recycling market is the increasing focus on circular economy approaches. Circular economy aims to eliminate waste by designing “closed-loop” industrial systems where waste from one industry can become a resource for another. Nutrient recycling is a core element of circular economy as it ensures recovered nutrients from waste are fed back into the production cycle. This preserves existing nutrient stocks and reduces pressures on non-renewable resources like phosphorus reserves. Many governments are formulating policies to promote circular economy-based business models, which is creating conducive environment for the growth of nutrient recycling companies.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the nutrient recycling market is moderate as it requires high initial investment for setting up infrastructure and technology. However, the growing demand for sustainable waste management practices provides opportunities.
Bargaining power of buyers: The bargaining power of buyers is moderate. Large waste management companies have more bargaining power than individual farmers or end-users. Buyers can choose from various nutrient recycling solutions available in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate to low. The market has the presence of many global and regional suppliers providing nutrient recycling technologies and services. Easy switch between suppliers maintains pricing balance.
Threat of new substitutes: The threat of new substitutes to nutrient recycling is low. Its environmental and economic benefits compared to traditional fertilizers make it less susceptible to substitutes. No direct replacement exists for recovering nutrients from organic waste currently.
Competitive rivalry: The competitive rivalry in the nutrient recycling market is high owing to the presence of many global and regional players offering similar solutions. Players compete on pricing, quality, product differentiation, and service.
Key Takeaways
The Global Nutrient Recycling Market Demand is expected to witness high growth over the forecast period owing to rising awareness about sustainable waste management practices. Europe currently dominates the market due to stringent environmental regulations in the region favoring nutrient recycling solutions. The large volumes of livestock manure and food waste generated makes Europe an attractive market for key players.
The Asia Pacific region is expected to be the fastest growing market for nutrient recycling during the forecast period. Population growth and rapid urbanization in countries like China and India lead to abundant organic waste generation necessitating sustainable solutions. Moreover, supportive government initiatives and growing agriculture industry adoption strengthen market prospects.
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. Major players focus on new product launches, partnerships, and geographical expansion to gain competitive advantage and tap into new regional markets.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
