by Market Overview:
Nutrient recycling involves recovery and conversion of animal and food waste into organic fertilizers. It helps to reduce pollution and mitigates health and environmental issues associated with waste disposal. The recovered nutrients provide an opportunity to meet growing demand for sustainable agriculture.
Market key trends:
One of the key trends in the nutrient recycling market is growing adoption of organic and sustainable agriculture practices worldwide. The recovered nutrients through recycling help reduce dependency on chemical fertilizers and provide sustainable nutrient supply for farms. Many nations are promoting nutrient recycling through policies and investments to tackle agricultural nutrient depletion and ensure soil health. In Canada and Western Europe, nutrient recycling through bio-digesters is increasingly used for livestock manure management and generate renewable energy from methane capture.
Market key trends:
One of the key trends in the Nutrient Recycling Market Demand is the shift towards more sustainable nutrient management practices. Due to increasing concerns about dwindling natural resources and environmental pollution from excess nutrient run-offs, organizations and governments are promoting nutrient recycling techniques and technologies. This approach recovers and reuses nutrients from wastes generated in various industries and sectors instead of adding them to landfills. Nutrient recycling helps close nutrient loops and reduce reliance on energy-intensive synthetic fertilizers.
SWOT Analysis
Strength: Nutrient recycling technologies help reduce waste, save costs and boost revenue for industries. They also support sustainable development goals.
Weakness: High initial investments and technology adoption costs can be prohibitive for some organizations.
Opportunity: Growing demand for organic fertilizers presents an opportunity for recovered nutrients. Supportive government policies and regulations also encourage market growth.
Threats: Lack of awareness and infrastructure in developing nations poses challenges. Stringent quality standards for recovered nutrients act as a restraint.
Key Takeaways
The global nutrient recycling market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand for organic fertilizers and sustainability initiatives. The market size for 2023 is US$ 4.98 Bn.
Regional analysis: North America is expected to dominate the global market during the forecast period. Asia Pacific is anticipated to exhibit the fastest growth rate owing to rising disposable incomes, growing population, and supportive government policies in countries such as 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, Â Inc., AgriReNew, Â Inc., Smithfield Foods, Â Inc., Aqua Green, Elemental Enzymes, Suez, Bioprocess Control.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
