The global 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 the recovery and reuse of nutrients like nitrogen and phosphorus from organic waste streams like food waste, animal manure, sewage sludge etc. This helps reduce the use of synthetic fertilizers and minimizes pollution from nutrient run-off into water bodies. The recycled nutrients are used to produce organic fertilizers for agriculture and landscaping.
Market key trends:
One of the key trends driving the nutrient recycling market is the rising focus on circular economy. Circular economy aims to eliminate waste by design by recovering resources from products at the end of their life, keeping materials circulating in the closed loop system for longer. Nutrient recycling helps implement circular economy principles by recovering nutrients from waste for reuse as fertilizers, thereby reducing demand for raw materials, waste generation and associated environmental pollution. This is expected to drive significant demand in the coming years.
Segment Analysis
The global nutrient recycling market is segmented into technology, waste type, application, and region. Based on technology, the wastewater treatment technology segment dominated the market in 2023 and is expected to maintain its dominance over the forecast period. It accounted for over 35% share of the global market in 2023. Wastewater treatment technology helps in recycling nutrients such as nitrogen and phosphorus from municipal and industrial wastewater and sludge, thereby facilitating their reuse.
Key Takeaways
The global Nutrient Recycling Market size is expected to reach US$ 4.98 billion in 2023 and is anticipated to grow at a CAGR of 5.9% during the forecast period of 2023 to 2030. Growing awareness about environmental protection and sustainable development are the key factors driving the growth of this market.
Regional Analysis
North America dominated the global nutrient recycling market in 2023 and accounted for over 30% share of the overall market revenue. Rapid industrialization and stringent wastewater discharge norms in the region are promoting the adoption of various nutrient recycling technologies. The Asia Pacific region is expected to witness the fastest growth over the coming years owing to rising agricultural activities, industrialization, and increasing focus on wastewater treatment in major economies like China and India.
Key Players
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., Aqua Green, Elemental Enzymes, Suez, and Bioprocess Control. Ostara Nutrient Recovery Technologies Inc. and Nutrient Recovery & Upcycling LLC collectively account for over 15% share of the global market.
Read More : https://www.newsstatix.com/8424-2/
The Plant Nutrient Testing Equipment Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the plant nutrient testing equipment market include Agilent Technologies Inc., Bay Spec Inc., Biochrom, Bruker, Cecil Instruments, GBC Scientific (USA) LLC.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Plant Nutrient Testing Equipment Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/plant-nutrient-testing-equipment-market/download-sampleMarket DynamicsThe increasing government participation in agriculture sectors to improve the quality of plants by introducing better nutrition techniques and stringent regulation is primarily driving the market growth.
Research organizations are working to determine the required nutrients for better growth of plants also for maintaining the quality and sustainability of plants is again accelerating the market growth.
On the flip side, the high price of the advanced nutrient analyzer and related equipment and lack of awareness and unavailability of fertile lands in few regions are expected to hamper the market growth.
