According to the recent research report titled ‘Global Reverse Vending Machine (RVM) Market - Analysis By Type (Refillable, Non-Refillable, Multifunction), End User, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with Market Study Report, global reverse vending machine (RVM) market was remunerated USD 355.32 million and is anticipated to record a substantial growth during 2021-2026.
 

Global reverse vending machine (RVM) market is primarily driven by rising consumer spending on reducing landfills, lowering greenhouse emission, and increasing recycling rates applications. Moreover, growing emphasis on environmental conservation is enhancing the overall market outlook.
 

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Businesses and governments across the globe are seeking the best way to reuse plastic water bottles, with the deposit return program already implemented around 20 economies. Furthermore, with a drastic increase in plastic contamination and focus on waste from single-use beverage containers, the recycling industry is promoting new innovations, making returning cans and bottles more inspiring and effective. Such initiatives are accelerating the industry expansion.
 

Elaborating on the latest developments, the outbreak of COVID-19 pandemic has had major repercussions on the plastic recycling sector and global reverse vending market (RVM) market as a whole. With the effects of lockdown, industry closures, and abrupt changes in product demand, the remuneration scope of the industry has declined.
 

With respect to end user scope, supermarkets segment holds majority of global reverse vending machine (RVM) market share owing to growing usage of the machine day by day in such establishments.
 

Elaborating on type, non-refillable segment accounts for significant industry share attributable to shifting focus of individuals towards a healthy lifestyle, rising threats to environment from non-decomposable items, and mounting demand for convenience products.
 

Major firms influencing global reverse vending machine (RVM) market dynamics are RVM Systems AS, Envipco Holding N.V., Diebold Nixdorf Inc., Tomra Systems ASA, Averda, Unisan Ltd., and Teraoka Seiko Co. Ltd.