Reverse Vending Machine Market to Garner $736.9 Mn, Globally, by 2030 at 6.6% CAGR: Allied Market Research

PORTLAND, Ore., Feb. 15, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Reverse Vending Machine Market by Product Type (Non-refillable, Refillable, and Multifunctional), Capacity (Less Than 200 Cans, 200-600 Cans, and More Than 600 Cans), and End User (Supermarkets, Communities, and Utilities): Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global reverse vending machine industry was accounted for $372.0 million in 2020, and is expected to reach $736.9 million by 2030, growing at a CAGR of 6.6% from 2021 to 2030.

Major determinants of the market growth

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. 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.

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Covid-19 scenario:

• The Covid-19 outbreak affected the market due to lockdown measures in several countries and delay in manufacturing.
• The regulations on transportation and import-export created a delay in supply on reverse vending machines.
• The prolonged lockdown disrupted the supply chain and surged prices of raw materials.

The non-refillable segment segment dominated the market

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.

The communities segment to portray the highest CAGR through 2030

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.

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North America held the lion's share

By region, the market across North America is anticipated to showcase the highest CAGR of 7.6% during the forecast period, due to surge in population, increase in construction activities, and rise in environmental concerns. However, the global reverse vending machine market across Asia-Pacific dominated in 2020, accounting for around half of the market, due to rapid urbanization and industrialization.

Major market players

• 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
• Teraoka Seiko Co Ltd.

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