Exploring the Circular Economy Market with Growth Perspectives

Global Circular Economy Market Overview:

According to MarkNtel Advisors study 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.

Key Findings of the Study: Circular Economy market

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.

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Scope of the Circular Economy Market Report Segmentation

-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

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Geographical analysis:

-By Region

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.

Current Landscape of Circular Economy Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Circular Economy market. The research report profiles major players, including

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Dell
Sony
Panasonic
IBM
Cisco
Regrained
Uniliver
Nestle
The Savola Group
IKEA Food
Levi Strauss
H&M Group
Addidas
Zara
Madewell
Others

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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Global Circular Economy Market Overview:

Key Findings of the Study: Circular Economy market