Reverse Vending Machine Market Size, Share, Growth, and Industry Growth, By Type (Non-Refillable Type, Refillable Type, and Multifunction Type), By Application (Supermarkets, Community, and Utilities), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Reverse Vending Machine Market REPORT OVERVIEW

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The global reverse vending machine market size was USD 287 million in 2022 and market is projected to touch USD 371.1 million by 2031, exhibiting a compound annual growth rate (CAGR) of 2.9% during the forecast period.

Automated recycling equipment is another name for the reverse vending machine. Customers can return empty food and drink containers to the vending machines to earn rewards like cash or refunds. An alternate, practical method of recycling bottle containers is provided by the machine. It is utilized in a variety of locations, including shopping centers, airports, municipalities, and metro stations. A rise in consumer expenditure on food and beverages, which in turn drives up the need for additional reverse vending to effectively collect waste, is what drives the global reverse vending machine market's expansion.

Substantial demand for various recycling solutions, including the vending machines, has been created by the alarming increase in the amount of untreated garbage. RVMs are used to dispose of waste and recover recycled materials more successfully. They also help make recycling and waste disposal more affordable. These devices use automated systems to collect and classify used containers, and in exchange, they offer cash incentives based on quantity. RVMs assist in promoting recycling, lowering landfill waste, reducing greenhouse gas emissions, and avoiding the use of virgin resources in the production of new goods. Numerous cutting-edge features, like a massive storage capacity, a UPC scanner, and a horizontal in-feed system, are present in these devices.

COVID-19 Impact: Change in Consumer Buying Behavior Hampered Growth

With lockdowns having an effect on the supply chain, the coronavirus pandemic has had a negative impact on the consumer goods business. The effects on food and beverage businesses are expected to be complicated, affecting supply and demand. The need for different consumer goods has increased as a result of a change in consumer behavior, however, and many customers have begun switching between brands. Manufacturers are simultaneously making decisions on how to address potential disruptions in the supply chain and determining how to enhance and satisfy consumer demand.

LATEST TRENDS

"Increasing Waste in Sectors to Surge the Market Growth"

The reverse vending machine market growth is anticipated to be backed by the growing amount of rubbish produced annually around the world. The market has benefited from growing environmental conservation and protection awareness. Additionally, rising government investment in downsizing and recycling plastic is forecasted to significantly fuel the reverse vending machine market growth. Numerous sectors have been drawn to use reverse vending machines owing to their capabilities. Due to the restricted number of landfills, an increasing amount of garbage has caused severe problems with disposal; consequently, recycling is crucial to efficiently manage waste. The existing manual recycling approach discourages users since they must gather the trash in large quantities.

Reverse Vending Machine Market Segmentation

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• By Type Analysis

By type, the market is segmented into refillable type, non-refillable type, and multifunction type.

• By Application Analysis

Based on application, the market is classified into supermarkets, community, and utilities.

DRIVING FACTORS

"Expanding F&B Industry to Foster the Product Demand"

The demand for reverse vending machines to collect and dispose of waste is likely to expand due to the expansion of the food and beverage industries around the world, which is anticipated to result in a rise in The amount of waste produced by the population. The expansion of the food and beverages industry is predicted to surge growth in the market. Additionally, technological improvements in reverse vending machines, such as AI-powered machines and touch-screen panels, may also create attractive chances for the expansion of the global reverse

"Rising Need for Disposing of Waste Material to Surge Growth in the Market "

Restricted number of landfills and rise in the amount of garbage causes serious problems with disposing of the bottles made of aluminum, glass, or plastics. Consequently, recycling is crucial to efficiently manage waste. The existing manual recycling approach discourages users since they must gather the trash in large quantities. Because of this, the reverse vending machine is utilized in a variety of applications to give customers a refund by recognizing the value of each container. The installation of new machines and the maintenance of existing ones are expected to drive the global reverse vending machine market growth. To encourage garbage reuse, reduction, and recycling, the government has established new legislation. It is projected that this will increase demand for the product, which is estimated to surge the reverse vending machine market growth. 

RESTRAINING FACTORS

"Fluctuating Price of Raw Material to Hamper Growth in the Market"

Reverse vending machine growth is expected to be constrained by fluctuating raw material prices and the high cost of this equipment. The fluctuations in the price of raw materials is restricting various companies from adopting the product, which may limit the growth of the market.

Reverse Vending Machine Market REGIONAL INSIGHTS

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"Europe to Dominate the Market Due to Adoption of an Innovative Waste Recycling Approach "

Europe is expected to hold about 80% of the reverse vending machine market share due to the innovation and development of resource cycling projects coupled with the rising demand for the product.

North America is forecasted to show significant growth in the global market owing to the steady adoption of self-service technology in the global market.

Asia Pacific is estimated to show sizable growth attributable to the higher product penetration in countries coupled with the rising population in emerging economies such as India, China, and Japan. 

KEY INDUSTRY PLAYERS

"Key Players Focusing on Innovative Technology Development to Grow in Market"

Operators are using a variety of tactics to increase profits, including being in the ideal location with the correct products, buying in bulk, investing in smart vending machines to learn more about their customers, and other methods. For instance, hot food and sandwich vending machines may do well in office settings, academic institutions, and schools. In contrast, hot beverages like coffee, tea, and hot chocolate are in high demand in most public places. Players in the industry compete fiercely with one another because some of them have large customer bases and operate in multiple locations.

List of Market Players Profiled

• Tomra (Norway)
• Diebold Nixdorf (U.S.)
• Sielaff (Germany)
• Incom recycle (China)
• Envipco (Netherlands)
• Trautwein SB Technik Gmbh (Germany)
• RVM Systems AS (Norway)
• Kansmacker (U.S.)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research. The market insights are prepared by utilizing large sample sizes for data-gathering modules. The study provides in-depth market insights. The stage includes gathering market data or related data using a variety of sources and tactics. It involves going over and organizing all the information gathered during the previous advance. It also covers the investigation of information discrepancies found across various information sources. Market statistical and coherent models are used to assess and estimate market data.