Waste Management Market Procurement Intelligence, Supplier Intelligence Report, 2021 – 2027
Procurement Outlook
Apart from keeping the environment clean and fresh, hiring a waste management company has other long-term benefits such as:
- Increases Operational Efficiency
- Waste management companies help organizations to sort waste appropriately, which reduces the option of land filling. Proper sorting also helps in discovering wastes which can be reused and hence reducing the amount of waste
- Waste management companies help organizations to sort waste appropriately, which reduces the option of land filling. Proper sorting also helps in discovering wastes which can be reused and hence reducing the amount of waste
- Adherence to Compliance
- Governments of developed and growing economies are implementing stringent rules and regulations for dumping waste. Hence by adopting a robust waste management plan, will help the organizations to meet necessary compliance and also make them eligible for grants and other incentives.
- Governments of developed and growing economies are implementing stringent rules and regulations for dumping waste. Hence by adopting a robust waste management plan, will help the organizations to meet necessary compliance and also make them eligible for grants and other incentives.
- Introduction of New Revenue Model
- Waste generated from business processes can be sorted, and materials which are not required by the organizations can be sold off to other businesses as raw materials
- Waste generated from business processes can be sorted, and materials which are not required by the organizations can be sold off to other businesses as raw materials
- Better Brand Image and Employee Morale
- Good waste management practices increase transparency and attract positive attention from customers which enhances the brand value. A positive enrollment towards a green environment also promotes cleaner and healthier workplace, building pride in employees towards the organization
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The key procurement strategies for efficient waste management are:
- Identifying cost components
- Waste management companies operate on “Bundled Fee” pricing model which has hidden costs. It is recommended to break down the costs into different categories to improve transparency, such as: Pick Up Costs, Disposal Costs, Landfill Levy Changes, etc.
- Selecting a sophisticated supplier
- On-boarding a supplier who provides detailed periodic reports by using “in-cabin management systems” and “software generated documentation” is important for operational efficiency. If not organizations might have to spend time to monitor waste and manually document the information gathered
Demand Outlook
The global waste management market size was estimated at USD 398.6 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 5% from 2021 to 2027. Key driving factors include strict waste management regulations from various governments, focus on sorting and treatment of different types of waste before disposal, composting of bio-degradable waste, etc.
Due to COVID-19, in 2020 the industry witnessed a segmental shift, the residential sector generated more waste as compared to commercial and industrial sector owing to lockdowns in various parts of the world.
APAC held the largest market share of waste management services due to increased disposable income and demand for packaged foods and beverages from growing economies such as India, China, Australia, and South Korea.
Cost Drivers
Increasing recycling is the major step to reduce disposal costs and improving the bottom line of any organization. Waste can be used as raw materials for new products, it helps in conserving water, energy, land, and raw materials.
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About us:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving - market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence - pricing models adopted for the category, the total cost of ownership
- Supplier Intelligence - rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption
Our market/procurement Intelligence reports include in-depth and actionable insights that help clients in understanding the different aspects of the supply chain and take more effective decisions.
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