According to recent findings, 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.

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Circular Economy Overview:

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.

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Circular Economy Outlook and Future Trends :

Reselling Platforms Transforming the Circular Economy Industry – Recently, a notable trend has been evolving within the Circular Economy Market, where numerous companies are launching reselling platforms. The primary aim behind this trend is to offer consumers a convenient one-stop platform for both buying & selling used items while ensuring transparent pricing. This development is expected to drive higher demand for various products, particularly luxury clothing, bags, and similar items. For instance:

• In 2022, Zara launched a resale platform called ‘Zara Pre-owned’ with a motto of repair, resell, and donation through their stores & mobile application.

These initiatives by the companies to encourage sustainability are creating awareness among consumers towards a circular economy, which impacts the demand for used clothes & products across the global market.

Global Circular Economy Segmentation Analysis:

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

According to reports, Food Waste held a prominent position in the Global Circular Economy Market, accounting for the largest share during historical years.

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

According to reports, The Construction sector acquired the largest share in the Global Circular Economy Market in recent years, and the same trend is likely to be followed in forecast years as well.

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific.

According to reports, Europe is expected to dominate the Circular Economy Market, accounting for the potential share during 2024-30.

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/global-circular-economy-market.html

Some of the Market players in the Global Circular Economy are:

• 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.

Circular Economy Recent Development:

• 2023: Zara collaborated with Circ (circular textile company) to launch recycle fiber collection for women garments.

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Key Highlights of the Report – Unlock Valuable Market Insights

• Market Size, Share & Future Projections – Understand the current market dimensions and forecasted growth trajectory.
• In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
• Company Strategies & Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
• Key Stakeholders & Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
• Import & Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.
• Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
• Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
• Market Trends & Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

• Define objectives and research design
• Collect data through surveys and interviews
• Analyze and validate data using reliable tools
• Forecast trends and deliver actionable insights

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