The product stewardship market size is expected to reach US$ 2.45 billion by 2031 from US$ 1.26 billion in 2023. The market is estimated to record a CAGR of 8.7% from 2023 to 2031. AI-powered product stewardship is likely to bring new market trends.

Product Stewardship Market Analysis

Factors such as consumer demand for eco-friendly products, rise in corporate social responsibility initiatives, and strict government regulations are driving the product stewardship market growth. Growing investment in recycling infrastructure and increasing awareness campaigns are likely to present ample opportunities for the market. However, resistance to change within the organization hampers the market growth. AI-powered product stewardship is emerging as a transformative trend in the product stewardship market. The increasing awareness among organizations regarding health, safety, and environmental impacts prompts manufacturers to adopt product stewardship practices, enhancing their economic benefits while minimizing adverse effects throughout the product life cycle. Additionally, the rise in regulatory frameworks and compliance requirements is compelling companies to prioritize sustainable practices. The ongoing emphasis on waste management and the transition toward circular economy models further create opportunities for innovation and collaboration among stakeholders, including suppliers, retailers, and consumers.

Product Stewardship Market Overview

Product stewardship is an environmental management strategy wherein all parties involved in the design, production, sale, or use of a product are accountable for reducing the product's environmental impact across all phases of its life cycle, including end-of-life management. The primary responsibility is attributed to the entity with the greatest capacity to influence the comprehensive life cycle environmental effects of the product. The manufacturer or producer of the product holds the most significant capacity to mitigate negative impacts; however, other stakeholders—including suppliers, retailers, and consumers—also contribute to this effort. Stewardship practices may be adopted voluntarily or mandated by laws. Product stewardship involves the reduction of health, safety, environmental, and social impacts associated with a product and its packaging throughout all stages of its life cycle while simultaneously enhancing economic advantages.

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Product Stewardship Market: Strategic Insights

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Product Stewardship Market Drivers and Opportunities

Increase in Consumer Demand for Eco-Friendly Products

There has been a substantial shift in consumer behavior toward eco-friendly products. Surveys indicate that a large majority of consumers are gradually prioritizing sustainability in their purchasing decisions. For instance, in 2024, according to Shopify, 89% of consumers have changed their shopping behavior to favor sustainable products, with nearly 30% indicating a significant change in their purchasing habits. Generation Z emerges as the most prominent adopter of this consumer trend, with this demographic citing sustainability as a primary consideration in their shopping decisions. According to a report by The Economist Intelligence Unit, commissioned by WWF, the popularity of Google searches relating to sustainable goods has increased by 71% globally over the past five years. There is a growing consumer inclination for sustainable products, driven by an increasing awareness of environmental issues and a desire to support brands that align with their values. As consumers, particularly younger generations such as Gen Z, prioritize sustainability in their purchasing decisions, companies that adopt product stewardship practices can significantly enhance their brand image and reputation. This alignment not only meets consumer expectations but also translates into a competitive advantage in the marketplace. Consequently, businesses that proactively embrace sustainable practices are fulfilling a moral obligation and positioning themselves to capture a larger share of the market, thereby driving profitability and fostering customer loyalty in an increasingly eco-conscious economy. All of these factors boost the adoption of product stewardship practices, which is further driving the product stewardship market growth.

Investment in Recycling Infrastructure

Investment in recycling infrastructure is a critical opportunity within the product stewardship market, as it directly enhances the capacity to manage waste effectively and sustainably. With many regions facing challenges in keeping pace with modern waste streams, significant investments are needed to upgrade and expand recycling facilities, improve sorting technologies, and develop new processing methods. For example, the Bipartisan Infrastructure Law in the US aims to bolster recycling systems, ensuring that materials are efficiently collected, sorted, and processed, which can lead to increased recycling rates and reduced landfill waste. In September 2023, the U.S. Environmental Protection Agency (EPA) announced more than US$ 100 million from President Biden's Investing in America agenda in order to expand recycling infrastructure and waste management systems across the US, representing the EPA's largest recycling investment in 30 years. The EPA has selected 25 communities to receive grants totaling more than US$ 73 million under the newly created “Solid Waste Infrastructure for Recycling” program. In addition, the agency is making ~US$ 32 million available for states and territories for improving solid waste management planning, collection of data, and implementation of plans. By investing in robust recycling infrastructure, companies not only comply with regulatory requirements but also create a competitive advantage by tapping into the growing market for recycled materials, ultimately contributing to a circular economy that minimizes environmental impact and promotes sustainability.

Product Stewardship Market Report Segmentation Analysis

Key segments that contributed to the derivation of the product stewardship market analysis are component and organization size.

• In terms of component, the market is segmented into software and services. The services segment dominated the market in 2023.
• Based on organization size, the market is divided into large enterprises and SMEs. The large enterprises segment dominated the market in 2023.

Product Stewardship Market Share Analysis by Geography

• The product stewardship market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Europe dominated the market in 2023, followed by APAC and North America.
• In Europe, product stewardship is a critical component of environmental policy, focusing on the responsibility of manufacturers to manage the lifecycle impacts of their products. This includes not only the design and production phases but also the end-of-life management, ensuring that products are disposed of or recycled responsibly. A notable example is the Fertilizers Europe Product Stewardship Program, which mandates that all member companies adhere to strict guidelines for safe and environmentally friendly fertilizer production. This program sets high global standards and emphasizes best practices in sourcing, production, and distribution, thereby minimizing the environmental footprint of fertilizers across Europe. Such initiatives reflect a broader commitment to sustainability and resource conservation within the European Union, aligning with its ambitious environmental goals.

Product Stewardship Market Report Scope

Product Stewardship Market News and Recent Developments

The product stewardship market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the product stewardship market are listed below:

• Anthesis Group, the world's largest group of dedicated sustainability professionals, appointed Bianca Nijhof, former Managing Director of Netherlands Water Partnership, as Associate Director of Water and Biodiversity. This senior hire expands and complements the established expertise within Anthesis while addressing market demand internationally to identify and mitigate biodiversity impacts.

(Source: Anthesis Group, Press Release, January 2022)

• Arcadis, a leading global design and consultancy organization for natural and built assets, announced a continued partnership with the U.S. Army Environmental Command (USAEC) to provide essential environmental studies and remediation services for hazardous waste and munition response sites. Arcadis is one of five firms selected as part of a five-year, US$ 464 million shared capacity framework contract for USAEC and the Environmental Remediation Multi-Award (ERMA) support services.

(Source: Arcadis, Press Release, March 2024)

• 3E, the leading global provider of intelligent compliance solutions for chemical and workplace safety, product stewardship, and sustainable supply chains, completed its previously announced acquisition of Quick-FDS, the leading provider of workplace safety solutions in France. The acquisition of Quick-FDS from WEKA Group further expands 3E's presence in Europe and establishes a leading position in the French market in particular. This combination represents a significant milestone in the EHS&S industry, bringing together two of the most sophisticated providers of SDS management, workplace safety, and product stewardship solutions in Europe.

(Source: 3E, Press Release, April 2024)

Product Stewardship Market Report Coverage and Deliverables

The "Product Stewardship Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:

• Product stewardship market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Product stewardship market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Product stewardship market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the product stewardship market
• Detailed company profiles