The value added of waste management and materials recovery in Canada stood at 8.21 billion Canadian Dollars in 2023. Over the past decade, this sector has showcased a robust growth trajectory, with notable annual increments ranging from 0.48% to over 12.35%. In 2020, the value dipped by 7.21%, reflecting potential market disruptions. However, the overall 5-year CAGR leading up to 2023 was 3.28%, underscoring sustained recovery and growth. Future forecasts indicate continued expansion, with a projected 5-year CAGR of 2.29% from 2024 onwards, highlighting an 11.99% cumulative growth rate by 2028.
Future trends to watch for:
- Technological innovations in waste processing and materials recovery
- Growing emphasis on sustainability and circular economy principles
- Policy and regulatory changes aimed at boosting recycling rates
- Emergence of new market entrants and shifting competitive dynamics
- Enhanced consumer awareness and engagement in waste reduction
