Circular Economy Consulting Services Market Seen Soaring ~9.5% Growth to Reach USD Billion by 2032, Projects UnivDatos

Key Highlights of the Report:

• Market Expansion: The Circular Economy Consulting Services market is at a rapid growth stage now and will grow even more within the coming few years due to the corporate sustainability goals, ESG mandates & other Regulations or policies like the circular economy action plan of the EU.
• Key Sectors: Waste-to-Resource Solutions, Retail and Consumer Goods, and Large Enterprise industries are some of the major industries disclosing circular strategies to minimize costs from waste.
• Current and emerging trends: In light of this, more firms have considered committing to buying or carrying out lifecycle assessments, waste valorization systems and even checking supply chain circularity to improve their performance and meet their ESG goals.
• Consulting Focus: Some of the leading firms that contribute to the market advancement include McKinsey, Accenture, and Deloitte, based on digital solutions, and tracking using Artificial Intelligence and circular design frameworks.

According to a new report by UnivDatos Market Insights, Circular Economy Consulting Services Market is expected to reach USD Billion in 2032 by growing at a CAGR of 9.5%. The circular economy consulting services market is continuing to grow and is being forced by the rising sustainability initiatives and Environmental, Social, and Governance standards in companies. Other policies, such as the EU’s Circular Economy Action Plan and EPR legislative laws, are forcing corporations to manage and minimize the wastage of resources. Adding to this, the growing consumer awareness towards green products coupled with environmental concerns have made it necessary for companies to integrate closed-loop chains into their supply chains. Also, the implementation of circular economy reduction, recycling, and material recovery options helps to develop the need for consulting regarding circular ideas.

On November 30, 2022, Boston Consulting Group (BCG) announced that its Circelligence by BCG solution is now available on the SAP Store, the online marketplace for SAP and partner offerings. Circelligence by BCG is built on the SAP Business Technology Platform (SAP BTP) and integrates with SAP S/4HANA® and SAP HANA Cloud to deliver insight to customers into the circularity of their businesses. Circelligence evaluates how much a company has moved away from a traditional and linear “take, make, waste” model and toward one that does more with less, fosters reuse and recycling, and encourages a closed loop that benefits the environment, society, and businesses.

Circular Economy Promotion Law

Segments that transform the industry

Based on the service type, the market is segmented into strategy development, supply chain optimization, waste-to-resource solutions, and circular design & product lifecycle management. Among these, waste-to-resource solutions held a significant share of the market in 2023. The interest is growing because companies in industries want to convert waste in their production processes into secondary raw materials or energy, thus saving money in the process and being environmentally friendly. Consulting firms help companies choose strategies for managing waste streams and implementing the concept of closed-loop recycling. The growth of this segment is further supported by increasing concerns with waste management and the drive toward achieving zero waste from manufacturing and industrial organizations. For instance, on December 14, 2022, Procyon Group expanded its service offering by introducing expert consulting solutions for circular waste management (CWM). Their goal is simple: to help reduce wastage, increase recycling, and make companies more sustainable in the face of today’s climate change challenges.

According to the report, the impact of Circular Economy Consulting Services has been identified to be high for the Asia-Pacific This growth can be attributed to industrialization, urbanization, and changes in laws to accommodate waste reduction and recycling, especially in the Asia Pacific region, especially in China, Japan, and India. Many organizations within this region are now embracing circular economy consulting services to address industrial waste, efficient raw material utilization, and the circular value chain. Moreover, consulting firms assist manufacturers in including the product life cycle assessment and the concepts of eco-design with the help of the company’s requirements of sustainability standards. Adding to this, government encouragement and the circular economy’s legal regulations, like China’s Circular Economy Promotion Law, are leading to additional business implementation.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2024−2032.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis By Service Type, By End User, By Organization Size, By Region/Country

Competitive Landscape – Top Key Vendors and Other Prominent Vendors