you can help with this, but I've searched the net to get some kind of starting point for this question and still haven't found an answer for 'by-product processing'

The primary advantage of by-product processing, such as apple waste, is making efficient use of resources in hand, thereby not only reducing in wastages but also resulting in more profitability for the organization. Further, this will also lead to utilization of essential nutrients which is lost in such apple waste during the processing of apple.

If such waste is not utilized, it will simply be dumped in garbage. Although is not harmful as another wastes such as plastics, it may still result in some kind of environmental pollution as well as diseases, if dumped near human population. Thus, the recycling will help in reducing the wastage in the process and will make maximum use of the natural product, which would have gone useless if the apple waste is being thrown away.

Apart from generating extra revenues for the organization and meaningful application of waste, it will enhance the corporate image of the organization and would make the organization appear more environment friendly to the society and public in general.

The disadvantages of using the apple waste will be that organization will need to be careful about the health and nutritional aspect of the the final product. In an attempt to make extra profits, it should not play with the health of the consumers. Thus, organization will need to make additional investments in terms of quality assurance, testing,etc. Lack of consistency in terms of nutritional content could become a problem.

Further, new investments need to be made for preparing the new product, starting from machinery to hiring new labor, etc.

If the product fails in the marketplace, it might jeopardize the brand image of the company and can even result in erosion of sales for the apple juice.

Further, the availability of the by products on a continuous basis might also become a problem if the demand for such products increase.