“Global Reverse Vending Machines Market, By Product Type (Refillable Type, Non-Refillable Type, Multifunction Type), By Application (Supermarkets, Community, Utilities), as well as by Region – Global Forecast 2020 to 2029.”, which offers a comprehensive view of the Global Reverse Vending Machines Market through systematic segmentation that encompasses every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $583.8 Mn, and is estimated to increase significantly over the latter part of the forecast period.
A reverse vending machine is a device that accepts used beverage containers and returns money to the user. The machines are popular in places that have mandatory recycling laws or container deposit legislation.
Major factors that are expected to continue to augment the revenue growth of the Global Reverse Vending Machines Market over the next decade is the steady increase in awareness levels among individuals concerning the numerous negative impacts of non-degradable waste disposal on the environment, as well the various initiatives being carried out by respective governing authorities as a countermeasure to the ever-increasing collective carbon footprint being created as a direct result of increased consumption. Additionally, the gradual increase in the number of recycling projects being undertaken across the world is also a factor that is slated to complement the market growth of this global industry in the years to come. The high costs associated with the installation and maintenance of these machines is a factor that could potentially impact the projected revenue growth of the Global Reverse Vending Machines Market. However, there has been a spike in the demand for these types of machines over the last few years, specifically from various developed regions across the world, is another major factor that is anticipated to further contribute to the overall market growth of the global reverse vending machines industry over the course of this forecast period. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Reverse Vending Machines Market to $875.3 Mn by 2029, at a CAGR of 10.7%.