Global reverse vending machine market growth
The global reverse vending machine industry was valued at $372million in 2020 and is expected to reached $736.9million by 2030, according to a new report.
The market is expected to grow at a CAGR of 6.6% from 2021 to 2030.
Rise in the amount of waste generation, surge in environmental awareness, and government regulations toward illegal dumping have boosted the growth of the global reverse vending machine market.
Many countries have started to introduce Deposit Return Schemes (DRS) for aluminium cans, plastic and glass bottles, with the need for reverse vending machines.
However, fluctuation in raw material prices and high cost of reverse vending machines hinder the market growth. On the contrary, technological advancements in reverse vending machines would open new opportunities for the market players in the future.
By product type, the non-refillable segment held the largest share in 2020, accounting for nearly two-fifths of the global reverse vending machine market, due to involvement of major players such as Tomra Sorting GmbH, VendingBox, and others in offering reverse vending machines for non-refillable containers.
However, the refillable segment is estimated to register the highest CAGR of 6.9% during the forecast period, owing to surge in demand for refillable pouches across cosmetics, food & beverages, and cleaning products.
By end user, the communities segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to rise in construction of commercial buildings globally.
However, the supermarkets segment held the largest share in 2020, contributing to around half of the global reverse vending machine market, due to surge in demand for reverse vending machines for collection and sorting waste effectively and efficiently.