Circular Economy Market Outlook 2025-2034: Growth Drivers, Trends, Market Size & Competitive Landscape Insights

The Business Research Company's Circular Economy Market Outlook 2025-2034: Growth Drivers, Trends, Market Size & Competitive Landscape Insights

LONDON, GREATER LONDON, UNITED KINGDOM, February 14, 2025 /EINPresswire.com/ -- Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

Just how rapidly is the circular economy market growing?

The circular economy market size has seen significant growth in recent years, expanding from $463.07 billion in 2024 to an estimated $517.79 billion in 2025. This represents a compound annual growth rate CAGR of 11.8%. The growth during this period can be attributed to factors such as the expansion of urban mining, increased corporate social responsibility, the surge in e-commerce, the emergence of circular business models, and the rise of smart cities.

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What does the future hold for the circular economy market?

Looking ahead, the circular economy market is forecasted to grow to $798.3 billion in 2029 at a compound annual growth rate CAGR of 11.4%. This growth can be attributed to growing pressure on landfills and waste management, increasing global population, the continued rise of e-commerce and digital resale platforms, the need for supply chain resilience, increasing research and development activities, and escalating environmental concerns. Key trends in the forecast period include technological advancements, the evolution of recycling technology, digital technologies, eco-design, and the implementation of blockchain for traceability.

Who Are The Key Players In The circular economy Market?

Small wonder then, the circular economy market is increasingly being spearheaded by key industry players such as Nestlé S.A., Braskem S.A., Sony Group Corporation, Unilever PLC, Panasonic Holdings Corporation, International Business Machines Corporation IBM, Cisco Systems Inc., Veolia Environnement S.A., Honeywell International Inc., Holcim Group, SAP SE, Adidas AG, H&M Hennes & Mauritz AB, Waste Management Inc., Remondis SE & Co. KG, Eastman Chemical Company, Assurant Inc., The Savola Group, Levi Strauss & Co., Hitachi Zosen Corporation, UL Solutions Inc., Renewi plc, Daiseki Co. Ltd., Ragn-Sells Group AB, Patagonia Inc., Sims Lifecycle Services, TerraCycle Inc., ECOR Global Inc., Cloverly Inc., Madewell.

But what is driving this unprecedented growth?

A massive growth driver for the circular economy market is the increasing volume of electronic waste, or e-waste, that refers to discarded electrical or electronic devices like computers, smartphones, and household appliances that are no longer in use or have reached their lifecycle's end. The volume of electronic waste is increasing due to rapid product upgrades, shorter device lifespans, and growing consumer demand for the latest electronic gadgets, with quicker obsolescence and disposal of older devices.

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How Is The circular economy Market Segmented?

The circular economy market covered in this report includes various segments and sub-segments such as:

- By Type: Clothing And Textile Waste, Electronic Waste, Food Waste, Glass Waste, Plastic Waste, Wood Waste.
- By Enterprise Size: Large Enterprises, Small And Medium Enterprises SMEs.
- By Industry Vertical: Manufacturing Industry, Consumer Goods, Waste Management And Recycling, Construction And Building Materials, Automotive And Transportation, Food And Agriculture, Other Industry Verticals.

How does geopolitical distribution affect the circular economy market?

The market has been vastly influenced by geographical factors. Europe was the largest region in the circular economy market in 2024, while the report covers other regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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