by The Nutrient Recycling Market is estimated to be valued at US$ 4.98 Billion 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 Overview:
Nutrient recycling involves recovering nutrients like nitrogen and phosphorus from waste streams and transforming them into reusable products like fertilizers. The process helps reduce pollution and provides organic fertilizer options for agriculture. Main recycling techniques include composting of food waste, animal manure, and sewage sludge. The resulting compost and products support sustainable farming practices.
Market Dynamics:
Stringent environmental regulations regarding waste management and disposal are expected to drive the nutrient recycling market over the forecast period. Many countries and regions have legislations to reduce pollution from landfills and promote recycling. For instance, the European Union’s Circular Economy Action Plan aims to make the EU’s economy sustainable by transitioning to a model with maximum reuse and recycling. This favors adoption of nutrient recycling technologies. Growing consumer demand for organic food is also contributing to the market. Organic fertilizers produced via recycling support organic farming practices. The use of recycled nutrients eliminates the need for chemical fertilizers, reducing agricultural carbon footprint. Furthermore, nutrient recycling helps tackle issues like declining soil fertility and limited phosphate rock reserves that are essential for conventional fertilizers. Rising awareness about sustainability and benefits of recycling nutrients will further support the market expansion through the forecast period.
Segment Analysis
The nutrient recycling market is dominated by the struvite segment due to its wide applications. Struvite is a crystal fertilizer that helps prevent eutrophication of water bodies. It is widely used in wastewater treatment plants to aid in phosphorus recovery. The recovered struvite can then be used as a fertilizer in agricultural activities.
PEST Analysis
Political: Regulations promoting recycling and recovery of nutrients from waste streams are driving the market growth. For instance, the European Union’s Circular Economy Action Plan promotes recycling over disposal of waste.
Economic: The nutrient recycling market is fueled by the rising cost of chemical fertilizers and growing demand for sustainable agricultural practices. It provides a cost-effective way to recover nutrients from waste.
Social: Increasing awareness about the environmental impact of linear extraction-production-disposal model is boosting the adoption of nutrient recycling solutions. Consumers are willing to pay premium prices for sustainably produced food.
Technological: Advancements in wastewater treatment technologies such as membrane bioreactors and ion exchange are enabling efficient recovery of nutrients like nitrogen and phosphorus from various waste streams.
Key Takeaways
The global Nutrient Recycling Market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period, due to increasing farmer acceptance of organomineral fertilizers and stringent regulatory norms.
The US dominates the North America nutrient recycling market due to stringent wastewater disposal regulations and supportive government programs and funding for nutrient recycling projects. The country also has a large number of livestock and food processing industries generating nutrient-rich waste.
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., and Aqua Green, Elemental Enzymes, Suez, Bioprocess Control. Key players are focusing on expanding their global footprint through partnerships with local waste management firms and agricultural cooperatives.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
