Global Circular Economy Market Size is predicted to witness a 23.4% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
A circular economy entails markets that motivate the reuse of products rather than scrapping them and removing unique resources. In such an economy, all forms of waste, including scrap metal, clothes, and obsolete electronics, are returned to the economy or used more efficiently. The growing environmental concerns are driving the development of the circular economy market.
The rising awareness of pressing environmental issues, including climate change, resource depletion, and pollution, has produced a fundamental shift in customer attitudes, corporate systems, and government policies. The market's development is anticipated to be primarily fueled by the escalating concerns covering environmental degradation and the substantial waste generation across different product categories, largely attributed to the exponentially growing global population. Innovation also plays a pivotal role in the market as businesses develop creative technologies, materials, and business models to enable the transition to circularity. Hence, this adoption of the circular economy by the companies could adopt the circular principles and improve their reputation, eventually assisting in enhancing the circular economy market size.
However, high initial investment costs for infrastructure and technology can deter some businesses from transitioning to more sustainable practices. Consumer resistance to change, coupled with limited awareness, may hinder the demand for circular products and services. Complex and varying regulatory frameworks can create compliance challenges for companies adopting circular practices.
The circular economy market is segmented based on Business model and Industry. By Business Model, the market is segmented into Product-as-a-service (Leasing, Sharing, and Subscription Models), Product Life & Product Use Extension (Reusing/Reselling, Repairing, and Remanufacturing), and Resource Recovering/Upcycling). By Industry, the market is categorised into the Fashion & Textile Industry, Consumer Electronics Industry, Construction Industry, Automotive Industry, Logistics Industry, Agriculture, Furniture Industry, Oil and Gas Industry, and Others.
The product life & product use extension segment is projected to represent the market during the projected period. This reduces the environmental impact of product manufacturing, delivery, and disposal. It also cuts costs for businesses and customers, making it appealing. Long-lasting, repairable, and upgradeable products are gaining popularity. This tendency drives demand for durable, long-lasting products, encouraging corporations to utilize circular approaches to meet client needs.
The fashion & textile industry segment is expected to be the largest segment during the forecast period due to its significant environmental footprint and high resource consumption. With a growing demand for sustainable and ethical fashion, the industry increasingly adopts circular practices such as recycling, cycling, and innovative material sourcing. The sector's scale, global reach, and consumer demand for eco-friendly products have propelled its prominence in the circular economy landscape.
The circular economy market in North America is rapidly gaining prominence, reflecting a strong commitment to sustainability and resource efficiency. It encompasses diverse sectors such as recycling, sustainable product design, and renewable energy, all experiencing significant growth. Leading companies like Waste Management, Tesla, and Interface are at the forefront of advancing circular economy initiatives across the region. Both federal and state-level government regulations, coupled with the growing awareness and need for sustainable products, fuel this market's expansion. In addition, the circular economy market in Asia Pacific is expanding, emphasizing sustainability. Key players include Samsung, Toyota, and China Recycling Development.
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 23.4% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025 to 2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Business Model, Industry |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
HONEYWELL, SAP, Re-Match, Cirqle, Circular Solutions, Solar Impulse Foundation, UL LLC, Circular Economy Solutions GmbH, Veolia, Waste Management, Inc., TerraCycle, Loop Industries, Cloverly, Recyclebank, Ecolife Recycling, Eco-Cycle, Remondis, Renewi, Worn Again Technologies, Circular Devices Oy, Patagonia, Rype Office, Sims Lifecycle Services, Tarkett, ECOR, Madaster, Econyl, NEOM, and others |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Circular Economy Market Snapshot
Chapter 4. Global Circular Economy Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Business Model Estimates & Trend Analysis
5.1. By Business Model, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Business Model:
5.2.1 Product-as-a-service
5.2.1.1 Leasing,
5.2.1.2 Sharing,
5.2.1.3 Subscription Models
5.2.2 Product Life & Product Use Extension
5.2.2.1 Reusing/Reselling,
5.2.2.2 Repairing,
5.2.2.3 Remanufacturing
5.2.3 Resource Recovering/Upcycling
Chapter 6. Market Segmentation 2: By Industry Estimates & Trend Analysis
6.1. By Industry & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Industry:
6.2.1. Textile
6.2.2. Construction
6.2.3. Automotive
6.2.4. Logistics
6.2.5. Agriculture
6.2.6. Furniture
6.2.7. Oil and Gas
6.2.8. Others
Chapter 7. Circular Economy Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Circular Economy Market revenue (US$ Million) estimates and forecasts By Business Model, 2021-2034
7.1.2. North America Circular Economy Market revenue (US$ Million) estimates and forecasts By Industry, 2021-2034
7.1.3. North America Circular Economy Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Circular Economy Market revenue (US$ Million) By Business Model, 2021-2034
7.2.2. Europe Circular Economy Market revenue (US$ Million) By Industry, 2021-2034
7.2.3. Europe Circular Economy Market revenue (US$ Million) by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Circular Economy Market revenue (US$ Million) By Business Model, 2021-2034
7.3.2. Asia Pacific Circular Economy Market revenue (US$ Million) By Industry, 2021-2034
7.3.3. Asia Pacific Circular Economy Market revenue (US$ Million) by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Circular Economy Market revenue (US$ Million) By Business Model, (US$ Million) 2021-2034
7.4.2. Latin America Circular Economy Market revenue (US$ Million) By Industry, (US$ Million) 2021-2034
7.4.3. Latin America Circular Economy Market revenue (US$ Million) by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Circular Economy Market revenue (US$ Million) By Business Model, (US$ Million) 2021-2034
7.5.2. Middle East & Africa Circular Economy Market revenue (US$ Million) By Industry, (US$ Million) 2021-2034
7.5.3. Middle East & Africa Circular Economy Market revenue (US$ Million) by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1 HONEYWELL
8.2.2 SAP
8.2.3 Re-Match
8.2.4 Cirqle, Circular Solutions
8.2.5 Solar Impulse Foundation
8.2.6 UL LLC
8.2.7 Circular Economy Solutions GmbH
8.2.8 Veolia
8.2.9 Waste Management, Inc.
8.2.10 TerraCycle
8.2.11 Loop Industries
8.2.12 Cloverly
8.2.13 Recyclebank
8.2.14 Ecolife Recycling
8.2.15 Eco-Cycle
8.2.16 Remondis
8.2.17 Renewi
8.2.18 Worn Again Technologies
8.2.19 Circular Devices Oy
8.2.20 Patagonia
8.2.21 Rype Office
8.2.22 Sims Lifecycle Services
8.2.23 Tarkett
8.2.24 ECOR
8.2.25 Madaster
8.2.26 Econyl
8.2.27 NEOM
8.2.28 Other Market Players
Circular Economy Market By Business Model
Circular Economy Market By Industry
Circular Economy Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
