Waste is becoming a large business nowadays. The Global Waste Management Market size was valued at USD 394.1 billion in 2020 and is predicted to reach USD 715.0 billion by 2030, witnessing a CAGR of 6.1% from 2021-2030. Increasing consumerism, growing population, and accelerated use of electronic equipment like computers and TVs have made waste recycling a key focus area in India. India is the world’s third-largest e-waste generator, producing over 3 million metric tonnes per year. Seelampur in Delhi is India’s largest unorganized e-waste recycling area where computer peripherals, laptops, and mobile phones are salvaged. India generates 62 million tonnes of waste each year. About 43 million tonnes (70%) are collected of which about 12 million tonnes are treated, and 31 million tonnes are dumped in landfill sites. With changing consumption patterns and rapid economic growth, it is estimated that urban municipal solid waste generation will increase to 165 million tonnes in 2030.
Today, Ahmedabad-based Nepra handles more than 500 tonnes of dry waste a day, making it the largest player in this space. It is also the highest funded waste management start-up in India, with over $36 million in funding, according to data from Tracxn. That includes a recent series C round of $18 million led by Singapore-based Circulate Capital with participation from Indian impact investors Aavishkaar Capital and Asha Impact.
Waste management market in India
By 2025, the waste management market size in India is projected to be worth USD 15 billion with annual growth of around 7 percent. A growing economy, soaring urban population, rising living standards, and increasing consumption levels are common trends in emerging economies across the globe. Similarly, in India, an increase in the purchasing power parity has led to more affordability, accessibility to resource use, and a rapid surge in waste volumes as well. Considering the current trend toward urbanization in India, the MSW quantum is expected to double the existing volumes within ten years. At approximately 80-85 MTs by 2030, presenting a business opportunity estimated at US$20 Billion.
Swatch Bharat Initiative, the Indian government’s flagship program to deal with waste collection and its effective management, is expected to provide immense growth opportunities to various upcoming start-ups that are focusing on providing innovative solutions. Electronic and biomedical wastes are the primary focus of these start-ups. They are focusing on finding creative scientific procedures to deal with the generated waste while aiming at safer disposal. Each player has got a unique style, in terms of collection and treatment of waste. Furthermore, most of the e-waste management companies are partnering with major players, such as Bisleri, Pepsi, Cipla, IDFC bank, Sun Pharma, and Google.
Why should we care?
Everything creates waste. For some, it might just be old paper or dirty water. For others, it can be hazardous or toxic waste that requires special transportation and disposal. Whatever type or amount of waste you produce, they are all the same: it is costing you money! You pay twice for it: once when you buy it and the second time when you throw it away. By using less and disposing of less, you reduce the need for waste treatment and disposal. Waste prevention can take many forms, including:
- Using products that are free of toxic materials
- Reducing the amount of packaging
- Conserving water and/or energy
- Implementing in-process recycling
- Purchasing durable, long-lasting materials
- Striving to eliminate raw materials that are not incorporated into your final product or service
In addition to these financial benefits, avoiding waste is the right choice. Avoiding waste prevents pollution and makes your environment and community safer and healthier for life. Now everyone should realize that recycling is the key to reducing waste because recycling is the process whereby materials that would have become waste are converted into new materials and products. The key thing to remember is that the materials you are sending to the recycler represent lost revenues because they are not becoming a part of your product or service.