Circular Economy Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The 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.
Markntel Advisor’s Circular Economy Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Circular Economy Market drivers, barriers, Circular Economy Market Trends, and Key Players in Circular Economy Market.
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Circular Economy Market Dynamics: 2024-2030
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.
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Circular Economy Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Waste Management
- Electronic Waste- Market Size & Forecast 2019-2030, USD Million
- Food Waste- Market Size & Forecast 2019-2030, USD Million
- Plastic Recycling- Market Size & Forecast 2019-2030, USD Million
- Clothing & Textile- Market Size & Forecast 2019-2030, USD Million
- Wood Recycling- Market Size & Forecast 2019-2030, USD Million
- Glass Recycling- Market Size & Forecast 2019-2030, USD Million
- By Industry
- Textile – Market Size & Forecast 2019-2030, USD Million
- Construction – Market Size & Forecast 2019-2030, USD Million
- Automotive- Market Size & Forecast 2019-2030, USD Million
- Logistics- Market Size & Forecast 2019-2030, USD Million
- Furniture- Market Size & Forecast 2019-2030, USD Million
- Oil & Gas- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Top Companies Operating in the Circular Economy Market:
- Dell
- Sony
- Panasonic
- IBM
- Cisco
- Company Profiles (Food Waste)
- Regrained
- Uniliver
- Nestle
- The Savola Group
- IKEA Food
- Company Profiles (Clothing & Textile)
- Levi Strauss
- H&M Group
- Addidas
- Zara
- Madewell
- Others
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