the global reverse vending machine market has witnessed significant growth in the past decade, owing to rise in amount of waste generated, rise in environmental awareness among population. In addition, government regulations towards illegal dumping drives the market growth. However, fluctuation in raw material prices is anticipated to hamper the growth of the market. Technological advancements such as Artificial Intelligence (AI), and Internet of Things (IoT) in the reverse vending machines, which provide lucrative opportunities for the reverse vending machine growth
The global reverse vending machine market size was valued at $0.37 billion in 2020, and is expected to reach $0.73 billion by 2030, with a CAGR of 6.6% from 2021 to 2030. In 2020, Asia-Pacific region dominated the global market, in terms of revenue, accounting for around half share of the global reverse vending machine
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The global reverse vending machine market is segmented on the basis of product type, capacity, end user, and region. On the basis of product type, the market is divided into non-refillable, refillable, and multifunctional. Non-refillable segment generated the highest revenue in 2020. Based on capacity, the market is divided into less than 200 cans, 200-300 cans, 300-600 cans, and more than 600 cans. More than 600 cans segment dominated the market in 2020. On the basis of end user, the market is categorized into supermarkets, communities, and utilities. Supermarkets segment generated the highest revenue in 2020.
Growth in the foods & beverages industry across the globe, which is expected to rise increase the in amount of waste generated from population, is expected to propel demand for reverse vending machines for to collect and disposable of waste, fuels the growth of the global reverse vending machine market. For instance, the food & beverages industry globally is expected to grow at a rate of 48.1% from 2020 to 2022. However, fluctuation in raw material prices, and high cost of reverse vending machines, are anticipated to restraints for the growth of the global reverse vending machine. Contrary, technological advancements in reverse vending machines such as AI powered machine, touch screen panel, and others, are anticipated to provide lucrative opportunities for the growth of the global reverse vending machine market.
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Major players such as Teraoka Seiko Co Ltd, Tomra Sorting GmbH, and Aco Recycling are some of the players engaged in offering reverse vending machine to the market. For instance, Teraoka Seiko Co Ltd offers DRV-100 reverse vending machine. It is capable of accept PET plastic drink bottles. It is used for industries such as retail, food industry, logistics, and hospitality sectors. It has features such as easy to install, easy to operate, and higher storage capacity.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging global reverse vending machine market trends and dynamics.
- By product type, non-refillable segment dominated the market, in terms of revenue in 2020, and refillable segment is projected to grow at a CAGR of 6.9% during the forecast period.
- By capacity, more than 600 cans segment registered highest growth in the global reverse vending machine market share in 2020.
Sielaff GmbH & Co KG, Ake Environmental Technologies, Envipco Holding N.V., Endlos Innovations Private Limited, Tomra Sorting GmbH, Diebold Nixdorf, RVM Systems, Aco Recycling, Kansmacker Mfg, and Teraoka Seiko Co Ltd.