Product Stewardship Market Report By Insights, Size, and Growth - 2031

The product stewardship market was valued at approximately US$ 1.26 billion in 2023 and is projected to grow to around US$ 2.45 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8.7% during the period from 2023 to 2031.

This market is divided into five key regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2023, Europe led the market, followed closely by the Asia Pacific region and North America. The North American product stewardship market is expected to see significant expansion, fueled by regulatory demands, a rising consumer preference for sustainable practices, and the proactive initiatives of organizations focused on responsible management of product lifecycles. For example, the Product Stewardship Institute (PSI) serves as a national authority on product stewardship, offering resources and research to assist organizations in implementing stewardship programs. PSI has played a crucial role in advancing product stewardship principles throughout the United States. Additionally, PaintCare, a nonprofit established by the American Coatings Association (ACA), has effectively launched manufacturer-led paint stewardship initiatives across various states, providing accessible recycling options for paint products.

The Asia Pacific region is anticipated to witness the highest growth rate in the product stewardship market from 2023 to 2030, driven by rapid economic advancements in nations like China and India. This growth has led to increased domestic consumption, which in turn has heightened the demand for sustainable practices in product lifecycle management. There is also a rising awareness among consumers regarding environmental concerns, with many individuals willing to pay extra for sustainable products. Furthermore, tightening government regulations are compelling businesses to adhere to environmental standards and adopt product stewardship practices to lessen their ecological footprint. The region's diverse market dynamics, which include both rapidly developing and established markets, also affect the speed of adoption, as companies in emerging economies tend to be more agile in responding to sustainability trends compared to those in developed regions.

The market is categorized by components into solutions and services, with the services segment holding the largest share in 2023. This segment includes a wide range of professional services aimed at helping organizations manage their product lifecycle responsibilities effectively. These services encompass business consulting and advisory roles that assist companies in formulating strategies to comply with environmental regulations and achieve sustainability objectives. Additionally, deployment and implementation services ensure that stewardship programs are seamlessly integrated into existing business operations. On the other hand, audit, assessment, and regulatory compliance services provide essential evaluations of a company's adherence to applicable laws and standards. Training and support services are also crucial, as they equip employees with the necessary skills and knowledge to implement stewardship practices effectively. As more businesses acknowledge the significance of sustainable practices, the demand for these services is expected to rise considerably, fostering innovation and efficiency in product stewardship initiatives.

Key players in the product stewardship market include Eaton Corp Plc, Anthesis Group Ltd, Arcadis NV, CGI Inc, ERM Group, Inc., Wolters Kluwer NV, Intelex Technologies ULC, SAP SE, Sphera Solutions, Inc., 3E, Benchmark Digital Partners LLC, UL LLC, Pace Analytical Services, Covestro AG, Linde Plc, DuPont de Nemours Inc, knoell, Young & Global Partners, Yordas Limited, and Phylmar Group, all of which are highlighted in this market analysis.

The overall size of the product stewardship market has been determined through a combination of primary and secondary research methods. Extensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative data related to the market size. This approach also aids in providing an overview and forecast of the market across all segments. Additionally, numerous primary interviews have been carried out with industry stakeholders to validate the findings and gain deeper analytical insights. This process includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the product stewardship sector.