Product Stewardship Market Forecast: Sustainability Drives USD 2.18 Billion Opportunity by 2030

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

The global Product Stewardship Market is experiencing significant growth, driven by an increasing emphasis on sustainable practices and environmental responsibility across various industries. The market is projected to grow at a CAGR of 9.1% during the forecast period from 2024 to 2030, with the total market size reaching USD 2.18 billion by 2030.

Product stewardship, as a concept, refers to the responsibility of all stakeholders in the product lifecycle, from design to disposal, to minimize environmental impacts. As governments, corporations, and consumers alike prioritize eco-friendly practices, product stewardship initiatives are becoming more integral to manufacturing, retail, and waste management industries.

The market is driven by the increasing need for companies to comply with strict regulatory guidelines and demonstrate social responsibility. This shift is particularly prevalent in industries like electronics, packaging, automotive, chemicals, and healthcare, where products have a significant environmental footprint.

𝐂𝐮𝐫𝐢𝐨𝐮𝐬 𝐭𝐨 𝐩𝐞𝐞𝐤 𝐢𝐧𝐬𝐢𝐝𝐞? 𝐆𝐫𝐚𝐛 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐧𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/27235/

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 & 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

The market's growth trajectory is heavily influenced by several trends, including a rise in recycling initiatives, extended producer responsibility (EPR) legislation, and technological innovations in waste management. Key players in the market are continuously developing solutions to reduce the environmental impact of products, focusing on product lifecycle assessments, design for environment (DFE), and circular economy strategies.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬

𝑼.𝑺. 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔

The U.S. remains a dominant player in the product stewardship market, largely due to its proactive regulatory environment and widespread corporate social responsibility initiatives. With more stringent environmental protection laws being enacted at federal and state levels, companies are increasingly adopting product stewardship programs to stay ahead of regulatory changes.

Notably, the U.S. Environmental Protection Agency (EPA) has increased its focus on enforcing Extended Producer Responsibility (EPR) laws, which are compelling businesses to adopt sustainable packaging practices and manage waste more responsibly. The growing demand for eco-friendly and recyclable materials across industries such as technology, packaging, and healthcare is spurring growth in the market.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔:

𝐖𝐚𝐬𝐭𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐈𝐧𝐜., one of the leading players in waste disposal services, merged with 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐃𝐢𝐬𝐩𝐨𝐬𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 in a deal valued at USD 4.9 billion in 2020. This acquisition helped strengthen Waste Management's position in the sustainable waste management sector, expanding its offerings in product stewardship services.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

𝑪𝒐𝒏𝒔𝒐𝒍𝒊𝒅𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝑹𝒆𝒈𝒖𝒍𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑬𝒖𝒓𝒐𝒑𝒆

Europe is a key region for the global product stewardship market, fueled by rigorous environmental regulations like the 𝐄𝐔 𝐖𝐚𝐬𝐭𝐞 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐃𝐢𝐫𝐞𝐜𝐭𝐢𝐯𝐞 and the 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐆𝐫𝐞𝐞𝐧 𝐃𝐞𝐚𝐥, which targets carbon neutrality by 2050. These regulations require businesses to adopt sustainable practices and reduce their carbon footprints, contributing to a steady demand for product stewardship solutions.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔:

𝐕𝐞𝐨𝐥𝐢𝐚 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 acquired 𝐒𝐔𝐄𝐙 in 2022, in a strategic move to strengthen its position in the global waste management and recycling market. This consolidation is expected to result in enhanced product stewardship offerings across Europe, particularly in waste-to-energy and circular economy solutions.

𝑲𝒆𝒚 𝑼𝒑𝒅𝒂𝒕𝒆𝒔:

The European Commission has launched an initiative to extend the scope of EPR programs, aiming to make businesses more accountable for product disposal and recycling. This policy shift opens up new opportunities for companies offering product stewardship solutions.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

𝑷𝒓𝒐𝒅𝒖𝒄𝒕 𝑺𝒕𝒆𝒘𝒂𝒓𝒅𝒔𝒉𝒊𝒑 𝑴𝒂𝒓𝒌𝒆𝒕 𝑨𝒅𝒗𝒂𝒏𝒄𝒆𝒎𝒆𝒏𝒕𝒔 𝒊𝒏 𝑱𝒂𝒑𝒂𝒏

Japan's product stewardship market is seeing strong growth due to its forward-thinking environmental policies and initiatives. The Japanese Ministry of the Environment continues to enforce strict rules on waste reduction and recycling, prompting manufacturers to implement responsible product lifecycle management strategies.

𝑲𝒆𝒚 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕𝒔:

Japan has introduced a zero waste initiative that has compelled many companies in the electronics, automotive, and packaging sectors to adopt innovative recycling methods and reduce material waste. As a result, there is growing demand for product stewardship services, especially in high-tech and automotive industries.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔:

In 2023, 𝐓𝐨𝐲𝐨𝐭𝐚 𝐓𝐬𝐮𝐬𝐡𝐨 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, a trading arm of 𝐓𝐨𝐲𝐨𝐭𝐚, acquired 𝐂𝐥𝐞𝐚 𝐉𝐚𝐩𝐚𝐧 to bolster its recycling and waste management capabilities. This acquisition aims to enhance product stewardship in the automotive sector, aligning with Japan's push for a circular economy.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

𝑷𝒓𝒐𝒅𝒖𝒄𝒕 𝑺𝒕𝒆𝒘𝒂𝒓𝒅𝒔𝒉𝒊𝒑 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑺𝒐𝒖𝒕𝒉 𝑲𝒐𝒓𝒆𝒂

South Korea has positioned itself as a global leader in waste management and recycling. With a national policy focused on Green Growth, the country has developed stringent EPR guidelines and encourages businesses to incorporate sustainable practices in their operations.

𝑲𝒆𝒚 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕𝒔:

The introduction of Extended Producer Responsibility (EPR) schemes in South Korea has sparked a surge in demand for product stewardship solutions, especially in the packaging and consumer goods sectors. Businesses that fail to meet recycling targets face fines, creating a thriving market for compliance-driven services.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔:

𝐋𝐆 𝐂𝐡𝐞𝐦, one of South Korea's largest chemical companies, acquired 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 in 2022, a move that is expected to improve their sustainable product lifecycle practices and contribute to their product stewardship strategies.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

𝑷𝒓𝒐𝒅𝒖𝒄𝒕 𝑺𝒕𝒆𝒘𝒂𝒓𝒅𝒔𝒉𝒊𝒑 𝑴𝒂𝒓𝒌𝒆𝒕 𝑺𝒖𝒔𝒕𝒂𝒊𝒏𝒂𝒃𝒊𝒍𝒊𝒕𝒚-𝑫𝒓𝒊𝒗𝒆𝒏 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝑺𝒊𝒏𝒈𝒂𝒑𝒐𝒓𝒆

As a global hub for technology and innovation, Singapore is increasingly integrating sustainability into its business models. The country has made significant strides in implementing circular economy strategies and fostering partnerships between government, industry, and research institutions to support product stewardship initiatives.

𝑲𝒆𝒚 𝑼𝒑𝒅𝒂𝒕𝒆𝒔:

Singapore's National Environment Agency (NEA) has introduced a series of initiatives aimed at encouraging companies to adopt sustainable waste management practices and comply with EPR regulations. These initiatives have boosted demand for product stewardship services, particularly in electronics and packaging.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐚𝐧𝐝 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

𝑺𝒐𝒖𝒕𝒉𝒆𝒂𝒔𝒕 𝑨𝒔𝒊𝒂: 𝑬𝒙𝒑𝒂𝒏𝒅𝒊𝒏𝒈 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑽𝒊𝒆𝒕𝒏𝒂𝒎 𝒂𝒏𝒅 𝑻𝒉𝒂𝒊𝒍𝒂𝒏𝒅

Southeast Asia is emerging as a key region for product stewardship growth, with countries like Vietnam and Thailand starting to adopt more robust waste management policies. These countries are gradually aligning with international sustainability standards, which creates substantial opportunities for product stewardship providers.

𝗩𝗶𝗲𝘁𝗻𝗮𝗺:

𝑮𝒓𝒐𝒘𝒕𝒉 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑽𝒊𝒆𝒕𝒏𝒂𝒎 are being fueled by increasing awareness around environmental issues and growing consumer demand for sustainable products. The Vietnamese government is actively promoting green industries and encouraging businesses to take responsibility for the environmental impact of their products.

𝗧𝗵𝗮𝗶𝗹𝗮𝗻𝗱:

𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑻𝒉𝒂𝒊𝒍𝒂𝒏𝒅 stem from the government's ambitious Circular Economy Roadmap, which emphasizes reducing waste and increasing recycling. This policy shift has led to a rise in demand for product stewardship solutions, particularly in the manufacturing and packaging sectors.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐭𝐚𝐤𝐞 𝐚 𝐬𝐧𝐞𝐚𝐤 𝐩𝐞𝐞𝐤? 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐰𝐡𝐚𝐭'𝐬 𝐢𝐧𝐬𝐢𝐝𝐞: https://www.maximizemarketresearch.com/request-sample/27235/

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝒃𝒚 𝑻𝒚𝒑𝒆

Solution
Services
Business Consulting and Advisory Services
Deployment and Implementation Services
Audit, Assessment, and Regulatory Compliance Services
Training and Support Services

BFSI, IT and telecom, government and defense, healthcare, research and academics, retail, and others are the market segments based on industry. In 2023, the largest share was held by the IT and telecom sectors, which were followed by the banking, financial, and insurance sectors as well as the government sector. A compound annual growth rate (CAGR) of 10.3% is anticipated for the IT & Telecom industry over the 2024-2030 forecast period. With a 9.4% CAGR throughout the same predicted period, the government and defense sub-segment comes next. Due to ongoing patient data monitoring and storage, which has greatly risen since the COVID-19 pandemic in 2023, the healthcare subsegment also has strong development prospects for the projected period (2024-2030).

𝒃𝒚 𝑶𝒓𝒈𝒂𝒏𝒊𝒔𝒂𝒕𝒊𝒐𝒏 𝑺𝒊𝒛𝒆

SMEs
Large Enterprises

SMEs and large enterprises are the two market segments based on organization size. By 2030, the Large Enterprises segment is anticipated to have the largest market share. Due to their high economies of scale, which enable them to take advantage of the advantages of these solutions and services, large organizations should find it more affordable to implement product stewardship solutions and services as a result of the expansion of this large enterprise market. Businesses spend a lot of money modifying their tactical marketing plans in order to maintain their position as market leaders. This segment's growth is primarily driven by the market's technological change, which includes personalized marketing, Big Data, social media, real-time solutions, and increased use of mobile devices.

𝐅𝐨𝐫 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐬𝐭𝐮𝐝𝐲, 𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/request-sample/27235/

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐚𝐫𝐞:

1. Arcadis
2. CGI
3. Cority
4. Enablon
5. Enviance
6. ERM Group
7. Gensuite
8. John Wood Group
9. Intelex
10. Processmap
11. SAP
12. Sitehawk
13. Sphera Solutions
14. Thinkstep
15. UL Wercs

𝐒𝐭𝐚𝐲 𝐚𝐡𝐞𝐚𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐯𝐞 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐭𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐟𝐫𝐨𝐦 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Global Event Stream Processing Market https://www.maximizemarketresearch.com/market-report/global-event-stream-processing-market/34822/

Global Digital Mobile Radio (DMR) Market https://www.maximizemarketresearch.com/market-report/global-digital-mobile-radio-dmr-market/63106/

Global Industrial Automation and Control Systems Market https://www.maximizemarketresearch.com/market-report/global-industrial-automation-and-control-systems-market/106619/

Flexible Electronics and Circuit Market https://www.maximizemarketresearch.com/market-report/flexible-electronics-and-circuit-market/14601/

Global Human Centric Lighting Market https://www.maximizemarketresearch.com/market-report/global-human-centric-lighting-market/33134/

Global Smartphone Sensors Market https://www.maximizemarketresearch.com/market-report/global-smartphone-sensors-market/62866/

Ethernet Switch Market https://www.maximizemarketresearch.com/market-report/global-ethernet-switch-market/63266/

Laser Interferometer Market https://www.maximizemarketresearch.com/market-report/laser-interferometer-market/165246/

Global Location Based Virtual Reality (VR) Market https://www.maximizemarketresearch.com/market-report/global-location-based-virtual-reality-vr-market/42067/

Global Agricultural Robots Market https://www.maximizemarketresearch.com/market-report/global-agricultural-robots-market/34593/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
+91 9607365656
sales@maximizemarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

This release was published on openPR.