Pune, India, Aug. 22, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global circular economy market is anticipated to progress with 7.8% CAGR during 2021-2027 to amass USD 657111 million by the end of study period.
The market segments that affect overall valuation are then briefly discussed, along with their growth rate and revenue contribution over the course of the projected period. The geographical trends, monetary contributions, and anticipated growth rates of each of the countries are looked at. The article then goes on to cover the strategies of top-tier businesses to solidify their place in the sector.
The industry is primarily driven by growing population around the world, concerns about environmental degradation, and massive amount of waste generation.
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For the unversed, the circular economy refers to use of numerous methods and resources for value preservation from waste, such as energy, materials, services, etc. Instead of trashing things, the main goal is to reuse, recycle, and remanufacture them to stimulate the economy.
Strict regulations for waste management and recycling are pushing a number of businesses to decarbonize & digitize in order to achieve greater efficiency and cost-effectiveness through the circular economy, which in turn is propelling the market expansion.
Market segment overview:
Based on waste type, worldwide circular economy industry is branched into wood waste, plastic waste, food waste, glass waste, electronic waste, and clothing & textile waste. Out of these, the food waste segment held major revenue share in the recent past, due to growing population which led to an enormous increase in food consumption and a considerable amount of food waste.
In terms of end-user terrain, the market is divided into textile, oil & gas, logistics, furniture, building & construction, automotive, and others. Among these, the building & construction segment share is slated to grow significantly through 2027, owing to rise in construction projects around the world as a result of governments' increased attention on infrastructure development.
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Regional scope:
As per seasoned analysts, Europe market is poised to witness a notable CAGR during the forecast period, on the back of strict government regulations to address the alarming levels of carbon emissions and environmental damage, along with implementation of sustainable solutions like the circular economy in the region. Supportive policies for setup of plants & facilities for production & distribution of products as well as utilities through circular economy are stimulating the industry outlook.
Competitive dashboard:
ZARA SA, Unilever plc, Sony Group Corporation, Panasonic Corporation, Nestle SA, International Business Machines Corporation, Inter IKEA Systems BV, Hennes & Mauritz AB (H&M), Cisco Systems Inc., and Adidas AG are the leading players in global circular economy market.
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Global Circular Economy Market, by Waste Type (Revenue, USD, 2017-2027)
- Wood Waste
- Plastic Waste
- Food Waste
- Glass Waste
- Electronic Waste
- Clothing & Textile Waste
Global Circular Economy Market, by End-User (Revenue, USD, 2017-2027)
- Textile
- Oil & Gas
- Logistics
- Furniture
- Building & Construction
- Automotive
- Others
Global Circular Economy Market, Geographical Fragmentation (Revenue, USD, 2017-2027)
North America
- Europe
- Asia Pacific
- Rest of the World
Global Circular Economy Market, Company Profiles (Revenue, USD, 2017-2027)
- ZARA SA
- Unilever plc
- Sony Group Corporation
- Panasonic Corporation
- Nestle SA
- International Business Machines Corporation
- Inter IKEA Systems BV
- Hennes & Mauritz AB (H&M)
- Cisco Systems Inc.
- Adidas AG
Table of Content:
Part 1. Introduction
1.1 Market definition
1.2 Key benefits
1.3 Market segment
Part 2. Methodology
2.1 Primary
2.2 Secondary
Part 3. Executive summary
Part 4. Market overview
4.1 Introduction
4.2 Market dynamics
4.2.1 Drivers
4.2.2 Restraints
Part 5. Global market for circular economy by waste type
5.1 Clothing & textile waste
5.1.1 Market size and forecast
5.2 Electronic waste
5.2.1 Market size and forecast
5.3 Food waste
5.3.1 Market size and forecast
5.4 Glass waste
5.4.1 Market size and forecast
5.5 Plastic waste
5.5.1 Market size and forecast
5.6 Wood waste
5.6.1 Market size and forecast
Part 6. Global market for circular economy by end user
6.1 Automotive
6.1.1 Market size and forecast
6.2 Building & construction
6.2.1 Market size and forecast
6.3 Furniture
6.3.1 Market size and forecast
6.4 Logistics
6.4.1 Market size and forecast
6.5 Oil & gas
6.5.1 Market size and forecast
6.6 Textile
6.6.1 Market size and forecast
6.7 Others
6.7.1 Market size and forecast
Part 7. Global market for circular economy by region
7.1 Asia Pacific
7.1.1 Market size and forecast
7.2 Europe
7.2.1 Market size and forecast
7.3 North America
7.3.1 Market size and forecast
7.4 Rest of the World (RoW)
7.4.1 Market size and forecast
Part 8. Key competitor profiles
Related Report:
Global Waste Recycling Services Market Size study, By Application (Industrial, Municipal), By Product (Paper & Paperboard, Plastics), Regional Forecasts 2021-2027
Global Waste Recycling Services Market to reach USD 77.6 billion by 2027.Global Waste Recycling Services Market is valued approximately USD 54.39 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.20 % over the forecast period 2021-2027. Waste recycling services includes recycling of waste material which includes paper recycling, glass recycling, metal recycling, textile recycling, plastic and electronic recycling. It also includes composting which is basically ???reuse of biodegradable waste, like food and garden mulch. Increasing awareness regarding waste management is enhancing the market growth of waste recycling services market.
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