Global Circular Economy Market Research Report: Forecast (2024-2030)

Name: Global Circular Economy Market Research Report: Forecast (2024-2030)
Creator: MarkNtel Advisors
License: https://www.marknteladvisors.com/privacy-policy

By Waste Management (Electronic Waste, Food Waste, Plastic Recycling, Clothing & Textile, Wood Recycling, Glass Recycling), By Industry (Textile, Construction, Automotive, Logistic...s, Furniture, Oil & Gas, Others), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Dell, Sony, Panasonic, IBM, Cisco, Regrained, Unilever, Nestle, The Savola Group, IKEA Food, Levi Strauss, H&M Group, Adidas, Zara, Madewell, and others) Read more

Energy
Oct 2023
Pages 222
Report Format: PDF, Excel, PPT

Market Definition

A circular economy is an economic system that aims to minimize waste & maximize the efficient use of resources. In it, the traditional "take-make-dispose" linear model is replaced with a more sustainable & regenerative approach.

Market Insights & Analysis: Global Circular Economy Market (2024-30):

The Global Circular Economy Market is valued at around USD 553 billion in 2023 and is estimated to grow at a CAGR of about 13.19% during the forecast period, i.e., 2024-30. The market's growth is expected to be primarily fueled by the escalating concerns surrounding environmental degradation and the substantial waste generation across various product categories, largely attributed to the exponentially increasing global population. Innovation also plays a pivotal role in the market, as businesses are developing innovative technologies, materials, and business models to facilitate the transition to circularity.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	13.19%
Regions Covered	North America: USA, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of the Middle East & Africa
	South America: Brazil, Argentina, Rest of South America
	Middle East & Africa: UAE, Saudi Arabia, South Africa
Key Companies Profiled	Dell, Sony, Panasonic, IBM, Cisco, Regrained, Unilever, Nestle, The Savola Group, IKEA Food, Levi Strauss, H&M Group, Adidas, Zara, Madewell, and others
Market Value (2023)	USD 553 billion

Digital technologies, IoT, data analytics, and material science advancements are driving innovation in this space & accelerating market growth. It, in turn, is generating growth opportunities for the leading players to reuse & recycle goods and turn them into useful resources instead of directing them into landfills & scraps. Additionally, stringent norms for the proper disposal of waste and its reuse are encouraging several industries to adopt digitalization & decarbonization to attain enhanced efficiency and cost-effectiveness through the circular economy and, in turn, propel the global industry.

Among all industries, the construction sector is greatly thrusting toward reducing carbon emissions & attaining zero emissions. As a result, it is attracting new businesses and carbon-intensive organizations into the circular economy and augmenting the overall market growth. Moreover, the active participation & support from institutions like the United Nations on circular economy is another prominent aspect projected to drive the Circular Economy Market through 2030.

Global Circular Economy Market Research Report: Forecast (2024-2030)

Global Circular Economy Market Driver

Environmental Awareness Driving Adoption of Circular Economy Practices – The rising environmental concerns are driving the growth of the Circular Economy Market. The increasing awareness of pressing environmental issues, including climate change, resource depletion, and pollution, has prompted a fundamental shift in consumer attitudes, corporate strategies, and government policies.

As individuals become more cognizant of the detrimental effects of traditional linear economies, there is a growing demand for sustainable & eco-friendly solutions. Due to this, consumers are actively seeking products and services that align with their environmental values, driving businesses to adopt circular economy practices to meet this demand. Further, to cater to this demand various companies like Dell, Panasonic, Zara, and others are adopting new economy models. For instance:

In 2023, Panasonic launched a new circular economy model to extend the lifespan of its products & reduce the impact of production & consumption.

Hence, this adoption of the circular economy by the companies could embrace the circular principles and enhance their reputation, eventually assisting in enhancing the Circular Economy Market size.

Global Circular Economy Market Opportunity

Government Incentives Creating Opportunities in Adopting Circular Economy – Government incentives for promoting the circular economy present a significant opportunity for the Circular Economy Market. As businesses are willing to align with sustainable practices, these incentives, such as grants, tax breaks, subsidies, and regulatory support, are serving as powerful catalysts for companies seeking to adopt circular principles.

Due to this, many companies are inclined to adopt recycled technology and take advantage of these tax breaks to offset their initial investment costs, making it more financially feasible to expand or upgrade their operations. Consequently, it enhances business profitability in the future & encourages market growth at a global scale.

Global Circular Economy Market Challenge

High Initial Investments to Act as a Barrier for the Market Growth – The challenge of initial investment costs acts as a barrier to the growth of the Circular Economy Market. Shifting from traditional linear production & consumption models to circular practices necessitates substantial upfront investments in technology, infrastructure, and process alterations. Many businesses, particularly smaller ones or those operating in cost-sensitive industries, may be hesitant to embrace these changes due to concerns about short-term impacts on profitability.

Additionally, investing in new technologies for recycling, remanufacturing, or waste reduction, as well as reconfiguring supply chains and production processes, increases the financial burden, which impacts the overall adoption of a circular economy, thus hampering market expansion.

Global Circular Economy Market Trend

Reselling Platforms Transforming the Circular Economy Industry – Recently, a notable trend has been evolving within the Circular Economy Market, where numerous companies are launching reselling platforms. The primary aim behind this trend is to offer consumers a convenient one-stop platform for both buying & selling used items while ensuring transparent pricing. This development is expected to drive higher demand for various products, particularly luxury clothing, bags, and similar items. For instance:

In 2022, Zara launched a resale platform called ‘Zara Pre-owned’ with a motto of repair, resell, and donation through their stores & mobile application.

These initiatives by the companies to encourage sustainability are creating awareness among consumers towards a circular economy, which impacts the demand for used clothes & products across the global market.

Global Circular Economy Market (2024-30): Segmentation Analysis

The Global Circular Economy Market study by MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the global levels. In accordance to the analysis, the market has been further classified as:

Based on Industry:

Textile
Construction
Automotive
Logistics
Furniture
Oil & Gas

The Construction sector acquired the largest share in the Global Circular Economy Market in recent years, and the same trend is likely to be followed in forecast years as well. It owes principally to the increasing number of construction projects worldwide due to the growing focus of governments of different countries on infrastructural developments, i.e., projecting a requirement for different construction materials in large quantities. It, in turn, is surging the need for a circular economy as a solution to extract vast amounts of resources from waste materials and transform them into reusable substances.

Based on Waste Management:

Electronic Waste
Food Waste
Plastic Recycling
Clothing & Textile
Wood Recycling
Glass Recycling

Food Waste held a prominent position in the Global Circular Economy Market, accounting for the largest share during historical years. This dominance can be attributed primarily to the exponential growth in the global population, leading to a substantial increase in food consumption, consequently generating significant volumes of food waste.

This concerning trend has prompted governments in various countries to promote the adoption of sustainable solutions, such as embracing the principles of the circular economy, as a means to curtail food wastage. Hence, this collective effort is playing a pivotal role in enhancing the market size in the years ahead.

Global Circular Economy Market (2024-30): Regional Projection

Geographically, the Global Circular Economy Market expands across:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Europe is expected to dominate the Circular Economy Market, accounting for the potential share during 2024-30. The regional market is driven principally by stringent regulations imposed by governments of different countries to address alarming levels of carbon emissions & environmental degradation and adopt sustainable solutions like circular economy.

As a result, it is displaying the presence of favorable policies and generating growth opportunities for the leading players to establish plants & facilities associated with the production and distribution of goods & services through the circular economy and meet the ambitious targets set by the European Union, thus instigating the Europe Circular Economy Market.

Global Circular Economy Industry Recent Development:

2022: Nestle collaborated with Global Corporation to collectively invest nearly USD 1 billion in Closed Loop Partners’ Operating Company, Circular Services.
2023: Zara collaborated with Circ (circular textile company) to launch recycle fiber collection for women garments.

Gain a Competitive Edge with Our Global Circular Economy Market Report

Global Circular Economy Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
Global Circular Economy Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

A. The Circular Economy Market is expected to grow at a compound annual growth rate (CAGR) of around 13.19% from 2024 to 2030.

A. The Circular Economy market size is valued at about USD 553 billion in 2023.

A. The booming environmental awareness for circular economy practices is expected to drive the market during 2024-30.

A. Dell, Sony, Panasonic, IBM, Cisco, Regrained, Unilever, Nestle, The Savola Group, IKEA Food, Levi Strauss, H&M Group, Adidas, Zara, Madewell, and others, are the top players in the Circular Economy Market.

A. Food waste has been consistently holding a significant position within the Circular Economy Market, accounting for the largest share since the previous years.

A. Europe is expected to dominate the Circular Economy Market, capturing the potential share during 2024-30.

A. The launch of reselling platforms is the new trend influencing the Circular Economy Market.

Global Circular Economy Market Research Report (2024-2030) - Table of Contents

Market Segmentation
Introduction
1. Type Definition
2. Research Process
3. Assumptions
Executive Summary
Global Circular Economy Market Trends & Developments
Global Circular Economy Market Dynamics
1. Drivers
2. Challenges
Global Circular Economy Market Supply Chain Analysis
Global Circular Economy Market Porter Five Analysis
Global Circular Economy Market Start-up Ecosystem
1. Entrepreneurial Activity
2. Funding Received by Top Companies
3. Key Investors Active in the Market
4. Series Wise Funding Received
Global Circular Economy Market Regulations, Policies & Standards
Global Circular Economy Hotspot & Opportunities
Global Circular Economy Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues USD Million
2. Market Size & Analysis
  1. By Waste Management
    1. Electronic Waste- Market Size & Forecast 2019-2030, USD Million
    2. Food Waste- Market Size & Forecast 2019-2030, USD Million
    3. Plastic Recycling- Market Size & Forecast 2019-2030, USD Million
    4. Clothing & Textile- Market Size & Forecast 2019-2030, USD Million
    5. Wood Recycling- Market Size & Forecast 2019-2030, USD Million
    6. Glass Recycling- Market Size & Forecast 2019-2030, USD Million
  2. By Industry
    1. Textile - Market Size & Forecast 2019-2030, USD Million
    2. Construction - Market Size & Forecast 2019-2030, USD Million
    3. Automotive- Market Size & Forecast 2019-2030, USD Million
    4. Logistics- Market Size & Forecast 2019-2030, USD Million
    5. Furniture- Market Size & Forecast 2019-2030, USD Million
    6. Oil & Gas- Market Size & Forecast 2019-2030, USD Million
    7. Others- Market Size & Forecast 2019-2030, USD Million
  3. By Region
    1. North America
    2. South America
    3. Europe
    4. The Middle East & Africa
    5. Asia-Pacific
  4. By Competition
    1. Competition Characteristics
    2. Market Share Analysis
North America Circular Economy Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues USD Million
2. Market Share & Analysis
  1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
  2. By Source- Market Size & Forecast 2019-2030, USD Million
  3. By Mode of Application- Market Size & Forecast 2019-2030, USD Million
  4. By Industries- Market Size & Forecast 2019-2030, USD Million
  5. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries- Market Size & Forecast 2019-2030, USD Million
4. Canada Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
5. Mexico Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
South America Circular Economy Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues USD Million
2. Market Share & Analysis
  1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
  2. By Source- Market Size & Forecast 2019-2030, USD Million
  3. By Mode of Application- Market Size & Forecast 2019-2030, USD Million
  4. By Industries- Market Size & Forecast 2019-2030, USD Million
  5. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
4. Argentina Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
Europe Circular Economy Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues USD Million
2. Market Share & Analysis
  1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
  2. By Source- Market Size & Forecast 2019-2030, USD Million
  3. By Mode of Application- Market Size & Forecast 2019-2030, USD Million
  4. By Industries- Market Size & Forecast 2019-2030, USD Million
  5. By Country
    1. Germany
    2. The UK
    3. France
    4. Spain
    5. Italy
    6. Rest of Europe
3. Germany Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
4. The UK Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
5. France Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
6. Spain Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
7. Italy Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
The Middle East & Africa Circular Economy Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues USD Million
2. Market Share & Analysis
  1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
  2. By Source- Market Size & Forecast 2019-2030, USD Million
  3. By Mode of Application- Market Size & Forecast 2019-2030, USD Million
  4. By Industries- Market Size & Forecast 2019-2030, USD Million
  5. By Country
    1. The UAE
    2. Saudi Arabia
    3. South Africa
    4. Rest of the Middle East & Africa
3. The UAE Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
4. Saudi Arabia Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
5. South Africa Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
Asia-Pacific Circular Economy Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues USD Million
2. Market Share & Analysis
  1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
  2. By Source- Market Size & Forecast 2019-2030, USD Million
  3. By Mode of Application- Market Size & Forecast 2019-2030, USD Million
  4. By Industries- Market Size & Forecast 2019-2030, USD Million
  5. By Country
    1. China
    2. Japan
    3. India
    4. South Korea
    5. Australia
    6. Rest of Asia-Pacific
3. China Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
4. Japan Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
5. India Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
6. South Korea Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
7. Australia Circular Economy Market Outlook, 2019-2030F
  1. Market Size & Analysis
    1. By Revenues USD Million
  2. Market Share & Analysis
    1. By Waste Management- Market Size & Forecast 2019-2030, USD Million
    2. By Industries - Market Size & Forecast 2019-2030, USD Million
Global Circular Economy Market Key Strategic Imperatives for Success & Growth
Competitive Outlook
1. Company Profiles (Electronic Waste)
  1. Dell
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Sony
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Panasonic
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. IBM
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Cisco
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
2. Company Profiles (Food Waste)
  1. Regrained
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Uniliver
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Nestle
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. The Savola Group
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. IKEA Food
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
3. Company Profiles (Clothing & Textile)
  1. Levi Strauss
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. H&M Group
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Addidas
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Zara
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
  5. Madewell
    1. Business Description
    2. Type Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Others
Disclaimer

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