According to the 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 LLC, global reverse vending machine (RVM) market was valued at USD 355.32 million in 2020 and is estimated to record a remarkable CAGR over the forecast period 2021-2026.
 

Rising focus towards boosting recycling rates, growing consumer spending on products aimed at landfill reduction, and increasing efforts towards lowering greenhouse gas emissions are the major factors impelling global reverse vending machine (RVM) market growth.
 

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Additionally, various initiatives for environment protection such as deposit and return scheme for reusing plastic bottles, and ever-increasing number of recycling projects are also propelling the industry remuneration. The startling surge in plastic pollution, and concerns over waste generated from single-use containers and encouraging innovations in this business sphere, further boosting the market expansion.
 

Elaborating on the impact of COVID-19 pandemic, the material recovery & processing sector was severely affected due to imposition of strict lockdowns, industry closures, travel restrictions, and unprecedented shifts in product demand. This factor is likely to hamper the growth of global reverse vending machine (RVM) market in the recent years.
 

Based on product type, the industry classification comprises multifunction, non-refillable, refillable variants. Among these, non-refillable segment currently captures a major industry share, driven by burgeoning demand for convenience products, consumer inclination towards leading healthy lifestyle, and environmental threats posed by non-decomposable waste bottles.
 

Moving on to end user spectrum, worldwide reverse vending machine (RVM) market is classified into utility, supermarket, and community. The supermarket segment presently holds a major industry share, owing to implementation of stringent recycling laws across certain geographies.
 

From a regional frame of reference, Europe market generated significant revenues in the recent years and is slated to record a healthy growth rate over the forecast period. This can be ascribed to rising innovation & development of new resource recycling projects, and increasing awareness about environment conservation.
 

Speaking of competitive landscape, Unisan Ltd., Teraoka Seiko Co. Ltd., Averda Holdings International Ltd., RVM Systems AS, Envipco Holding N.V., Diebold Nixdorf Inc., and Tomra Systems ASA are the prominent players influencing global reverse vending machine (RVM) market development.