Wilmington, Delaware, United States, June 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The Global Reverse Vending Machine Market was valued at US$ 386.9 Mn in 2022 and is projected to expand at a CAGR of 5.2% from 2023 to 2031.
Increase in practice of installing reverse vending machines at public places in the quest to protect the environment is fueling the reverse vending machine market. Airports, metro stations, and railway stations are some public places that are increasingly witnessing the deployment of reverse vending machines for effective waste management practices. Large volume of untreated waste that needs to be directed is spurring market development.
Initiatives by key players for the development of smart reverse vending machines using next-gen technologies such as AI and data analytics are likely to steer market progress in the near future. Furthermore, key vendors in the reverse vending machine market are engaging in R&D activities to tap into new growth opportunities in the next few years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 386.9 Mn | |
| Estimated Value | US$ 604.1 Mn | |
| Growth Rate - CAGR | 5.2% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | Product Type, Capacity, Price, Application, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
Regional Landscape
- Asia Pacific is likely to hold a major share of the global market during the forecast period. Changing lifestyle leading to an increase in the use of plastic in emerging economies is contributing to the demand for reverse vending machines in the region. China, India, and Indonesia produce large amounts of plastic waste each year. Therefore, government environment departments in these countries are planning the installation of reverse vending machines at public places to promote the recycling of plastic
Competitive Analysis
Companies operating in the global market are focusing on comprehensive R&D activities, in order to develop advanced reverse vending machines. Key players are engaged in expansion of their product portfolios and M&As to increase their reverse vending machine market share.
Prominent companies operating in the reverse vending machine market are
- Aco Recycling,
- Endlos Innovations Private Limited,
- Kansmacker International,
- Sielaff GmbH & Co. KG, Veolia,
- EcoVend Reverse Vending,
- Envipco Holding N.V.,
- RVM Systems AS, and Tomra Systems ASA
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Growth Drivers
- Need for effective waste management practices at public places such as airports, railway stations, and metro stations is fueling the reverse vending machine market
- Rise in burden of accumulation of plastic on the environment is augmenting market demand
Key Findings of study
- Rise in Volume of Untreated Waste Worldwide – The volume of untreated waste has increased considerably in the last few years. Vast demand for plastic is resulting in its accumulation in the environment at a rapid pace. This necessitates the adoption of sustainable recycling methods to preserve the environment. Installation of reverse vending machines is a sustainable recycling method that enables the recycling of plastic bottles in an efficient manner.
According to the World Economic Forum, 400 million tons of plastic waste is produced each year globally. In the U.S., 40 million tons of plastic waste was produced in 2021, of which only about two million tons was recycled. Furthermore, nearly 2.5 million plastic bottles and 110 million glass bottles are discarded every hour in the U.S. This spurs market demand for reverse vending machines across the world.
- Rise in Installation of Reverse Vending Machines in Public Places – The rewarding working model of reverse vending machines, which give money or incentives to recyclers in return for used bottles or cans, is attracting their installation in public places. Reverse vending machines give incentives in the form of metro transit tickets, cash refunds, donations to charity, discount tickets to recreation centers, paid telephone cards, etc. to recyclers. This is helping to reduce the number of unrecycled plastic bottles that run into rivers, landfills, and oceans.
Initiatives by governments to install reverse vending machines at public places are fueling market expansion. For instance, in January 2023, Mumbai’s Chhatrapati Shivaji Maharaj International Airport installed reverse vending machines to promote the recycling of plastic bottles. In January 2023, the Government of Indonesia deployed reverse vending machines for plastic recycling. Such initiatives are fueling reverse vending machine market growth.
- Considerable Demand for Plastic Bottle Recycling Machines – Based on product type, the plastic bottle recycling machines segment accounted for the leading market share in 2022. It is estimated to hold a significant market share during the forecast period.
Plastic bottles are usually used to store different kinds of liquids, such as water, cooking oil, carbonated drinks, and milk. Plastic is widely used in several industries and cannot easily decompose in the environment. This creates demand for plastic bottle recycling machines in order to protect the environment. For instance, in the U.S., landfills are full of more than two million tons of water bottles that are thrown away. This is creating demand for plastic bottle recycling machines in global business.
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The global Reverse Vending Machine Market is segmented as follows;
Global Reverse Vending Machine Market, by Product Type
- Metal Recycling Machines
- Plastic Bottle Recycling Machines
- Glass Recycling Machines
- Hybrid Recycling Machines
Global Reverse Vending Machine Market, by Capacity
- Less than 300 Bottles/Cans
- 300 – 600 bottles/Cans
- 600-900 Bottles/Cans
- More Than 900 Bottles/Cans
Global Reverse Vending Machine Market, by Price
- Low
- Medium
- High
Global Reverse Vending Machine Market, by Application
- Airports & Railway Stations
- Supermarkets & Shopping Malls
- Public Parks
- Universities & Schools
- Others (City Centers, etc.)
Global Reverse Vending Machine Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Global Reverse Vending Machine Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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