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The global waste recycling services market was valued at an estimated ** billion U.S. dollars in 2022. The market is expected to grow considerably in the coming years as consumer awareness about the environmental impacts of waste increases. By 2032, the global waste recycling services market is forecast to have surpassed a value of ** billion U.S. dollars, registering a CAGR of *** percent during the forecast period 2023 to 2032.

Recycling rates worldwide

Recycling rates vary greatly around the world. Germany has one of the highest recycling rates of municipal waste at almost ** percent. In comparison, the recycling rate in the U.S. is below ** percent and has seen little progress over the past decade. Price is often a factor in low recycling rates, as it is often cheaper to produce new products from raw materials than recycled materials.

The rising plastics waste issue

While many materials can be recycled, it is plastic waste that has come into significant media attention in recent years. The images of plastic waste polluting marine environments have increased consumer demand for improved recycling worldwide. Since the 1950s, annual plastic production across the globe has increased dramatically. However, just a small amount of this has ever been recycled.