USD 423.52 Million
Reverse Vending Machines Market Size, Share, Growth Analysis, By Type(Non-Refillable, Refillable Machines, Multifunction), By Application(Supermarkets, Communities, Utilities), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2073 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
63
|Figures:
75
Reverse Vending Machines Market Insights
Global Reverse Vending Machines Market size was valued at USD 423.52 Million in 2022 and is poised to grow from USD 451.89 Million in 2023 to USD 759.19 Million by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031)
Global reverse vending machines market is expected to grow as more individuals, governments, and organizations around the world prioritize sustainability and environmental responsibility. One of the primary drivers is the increasing global awareness of environmental issues, such as the need to reduce waste and conserve resources. Governments and organizations around the world are implementing policies and initiatives to encourage recycling, and reverse vending machines are a key part of these efforts. Another factor driving the growth of the reverse vending machines market is the increasing demand for sustainable packaging solutions. Many consumers are looking for environmentally friendly packaging options and are willing to participate in recycling programs to help reduce waste.
Additionally, the growth of the global reverse vending machines market is also driven by technological advancements in machine design and functionality. Newer machines are often equipped with advanced features such as touchscreens, cashless payment options, and automated sorting systems, which make them more user-friendly and efficient. The growth of e-commerce and online shopping has led to an increase in home deliveries, resulting in a significant increase in packaging waste. This has further fueled the demand for reverse vending machines as a means to encourage recycling and reduce waste.
US Reverse Vending Machines Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Non-refillable
Fastest Growth
Non-refillable
Growth Rate
6.7% CAGR
Global Reverse Vending Machine Market ($ Bn)
Country Share for Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Reverse Vending Machines Market Segmental Analysis
Global Reverse Vending Machines market is segmented by type, application, and region. Based on type, the market can be segmented into non-refillable and refillable machines. Based on application, the market is segmented into retailers, and distributors. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Reverse Vending Machines Market Analysis by Type
By type, the market can be segmented into non-refillable and refillable machines. Currently, the non-refillable machines segment dominated the global reverse vending machines market due to the widespread use of single-use containers and the convenience they offer to consumers. However, the refillable machines segment is expected to witness the fastest growth in the coming years due to the increasing focus on sustainability and the need for eco-friendly solutions.
Refillable machines are becoming increasingly popular among environmentally conscious consumers who prefer to use reusable containers instead of single-use ones. This trend is expected to drive the growth of the refillable machines segment in the global market.
Global Reverse Vending Machines Market Analysis by Application
By application, the market can be segmented into retailers and distributors. The retailers segment dominated the global reverse vending machines market due to the widespread presence of reverse vending machines in retail stores, supermarkets, and other similar outlets. Retailers are incentivized to use reverse vending machines as it helps to reduce their waste disposal costs and promotes brand image as a socially responsible business.
The distributor segment is expected to witness the fastest growth in the coming years due to the increasing adoption of reverse vending machines by distributors and logistics companies as a means of collecting empty containers from consumers in a cost-effective and efficient manner.
Global Reverse Vending Machine Market By Product Type
To get detailed analysis on other segments, Request For Free Sample Report
Reverse Vending Machines Market Regional Insights
North America dominated the global reverse vending machines market due to the high levels of awareness about environmental sustainability and the implementation of strict recycling regulations in the region. The United States, in particular, is a major contributor to the North American market due to its large population, high levels of consumer awareness about environmental issues, and strong government initiatives to promote recycling.
In the Asia Pacific region, the reverse vending machines market is expected to witness the fastest growth in the coming years due to the rising population, increasing awareness about environmental issues, and government initiatives to promote recycling. Countries such as China, Japan, and India are major contributors to the growth of the reverse vending machines market in the region, with the implementation of strict recycling regulations and the increasing adoption of sustainable solutions driving the demand for reverse vending machines.
Global Reverse Vending Machine Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Reverse Vending Machines Market Dynamics
Global Reverse Vending Machines Market Drivers
Increasing awareness and adoption of sustainable solutions
- One of the major drivers of the global reverse vending machines market is the increasing awareness and adoption of sustainable solutions by consumers and businesses. With growing concerns about environmental pollution and the impact of waste on the planet, there is a growing demand for eco-friendly products and solutions. Reverse vending machines offer a sustainable and convenient solution for recycling empty containers, thereby reducing waste and promoting environmental sustainability. The implementation of strict recycling regulations by governments and organizations is also driving the demand for reverse vending machines, particularly in regions where waste management is a major challenge.
Global Reverse Vending Machines Market Restraints
High capital cost
- One of the key restraints of the global reverse vending machines market is the high capital cost associated with setting up and maintaining these machines. The initial investment required to install and operate reverse vending machines can be significant, which can be a deterrent for small businesses and retailers. In addition, the cost of regular maintenance, repair, and replacement of parts can also add to the overall cost of operating reverse vending machines. This can make it challenging for vendors to offer competitive pricing and limit the adoption of reverse vending machines in some regions.
Request Free Customization of this report to help us to meet your business objectives.
Reverse Vending Machines Market Competitive Landscape
The global reverse vending machines market is highly competitive, with several vendors offering a wide range of products and services to cater to the diverse needs of customers. Vendors are focusing on product innovation, technological advancements, and strategic partnerships to gain a competitive edge in the market. They are also investing in research and development to improve the efficiency and performance of their machines, while also expanding their geographic presence to tap into new markets. In addition, vendors are adopting various marketing strategies to increase their brand visibility and attract new customers in a highly competitive market.
Top Player’s Company Profiles in Global Reverse Vending Machines Market
- Tomra Systems ASA (Norway)
- Envipco Holding N.V. (Netherlands)
- Suzhou Polyretec Machine Co., Ltd. (China)
- Compology, Inc. (US)
- Rehrig Pacific Company (US)
- Pyrowave Inc. (Canada)
- JSC "GreenPower" (Russia)
- Kansmacker Technology Co., Ltd. (Taiwan)
- Incom Tomra Recycling Technology (China)
- Cleanaway Waste Management Limited (Australia)
- Signode Industrial Group LLC (US)
- Triton Systems of Delaware, LLC (US)
- Green Machines International (Netherlands)
- Container Recycling Institute (US)
- Reverse Vending Corporation (US)
- Waste Management, Inc. (US)
- Tomra Collection Solutions (Germany)
- Alpla-Werke Alwin Lehner GmbH & Co KG (Austria)
- The Plastic Bank (Canada)
- RVM Systems AS (Norway)
Global Reverse Vending Machines Market Recent Developments
- In March 2023, Alpla-Werke Alwin Lehner GmbH & Co KG announced the acquisition of a stake in the Plastic Bank, a Canadian company that promotes plastic waste reduction and recycling in developing countries.
- In February 2023, Triton Systems of Delaware, LLC announced a partnership with the US Department of Energy to develop new technologies for plastic recycling.
- In January 2023, JSC "GreenPower" announced the launch of a new line of reverse vending machines, featuring a user-friendly interface and advanced sorting capabilities.
- In August 2022, Compology, Inc. announced that it had secured funding worth $18 million to expand its smart waste management solutions for businesses.
- In July 2022, Envipco Holding N.V. acquired the assets of Reverse Vending Corporation, a US-based provider of reverse vending machines and recycling solutions.
Reverse Vending Machines Key Market Trends
- One key market trend in the Reverse Vending Machines market is the increasing emphasis on sustainability and the circular economy. Governments, businesses, and consumers are becoming more aware of the environmental impact of waste and the importance of recycling. As a result, there is growing demand for reverse vending machines that can collect and sort various types of recyclable materials. Additionally, there is a trend towards the use of advanced technologies such as AI, IoT, and blockchain to improve the efficiency and transparency of the recycling process.
Reverse Vending Machines Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Reverse Vending Machines market analysis, the market is experiencing significant growth due to the increasing focus on sustainability and the circular economy. The market is segmented based on type, application, and region. Non-refillable machines are the dominant segment, while retailers and distributors are the fastest growing application segments. North America and APAC are the dominant regions, with the latter expected to exhibit the highest growth rate. The market is highly competitive, with key players including Tomra Systems, Envipco Holding N.V., and Rehrig Pacific Company. Recent developments in the market include acquisitions, partnerships, and product launches, as well as the adoption of advanced technologies such as AI and blockchain.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 423.52 Million |
| Market size value in 2031 | USD 759.19 Million |
| Growth Rate | 6.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Reverse Vending Machines Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Reverse Vending Machines Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Reverse Vending Machines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Reverse Vending Machines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Reverse Vending Machines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Reverse Vending Machines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
