North America Product Stewardship Market
The North America product stewardship market was valued at US$ 298.40 million in 2023 and is expected to reach US$ 539.30 million by 2031; it is estimated to register a CAGR of 7.7% from 2023 to 2031. Increase in Consumer Demand for Eco-friendly Products Fuels North America Product Stewardship Market
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% over the past five years globally since 2016. 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 are also positioning themselves to capture a larger share of the market, thereby driving profitability and fostering customer loyalty in an increasingly eco-conscious economy. All these factors boost the adoption of product stewardship practices, which is further driving the product stewardship market growth.North America Product Stewardship Market Overview
The product stewardship market in North America is poised for substantial growth, driven by regulatory pressures, consumer demand for sustainability, and the proactive efforts of organizations dedicated to responsible product lifecycle management. For instance, PSI is a national authority on product stewardship, providing resources and research to help organizations implement stewardship initiatives. It has been instrumental in promoting product stewardship concepts across the US. Moreover, for over a decade, PaintCare has successfully implemented manufacturer-led paint stewardship programs in various states nationwide, facilitating convenient paint recycling solutions. Established by the paint industry through the American Coatings Association (ACA), PaintCare is a nonprofit organization dedicated to managing the end-of-life phase of architectural paint products in states that have enacted paint stewardship legislation.
The Sustainable Investment Forum North America 2024, in official partnership with UNEP FI, plays a pivotal role in advancing product stewardship by uniting asset owners with over US$ 3 trillion in assets under management. As it prepares for its 9th annual edition during Climate Week NYC, the Forum will gather 500 qualified institutional investors and financial leaders to foster dialogue and collaboration aimed at promoting sustainable investment practices. This gathering is crucial for shaping and accelerating responsible investment, which aligns closely with the principles of product stewardship. By encouraging financial leaders to adopt sustainable practices, the Forum supports initiatives that prioritize the lifecycle management of products, ensuring that environmental considerations are integrated into investment decisions. This alignment not only enhances corporate responsibility but also drives the transition toward a more sustainable economy, reflecting the growing recognition of the interconnectedness between finance and environmental stewardship. All of these factors are expected to boost the product stewardship market growth.
North America Product Stewardship Market Revenue and Forecast to 2031 (US$ Million)
Strategic insights for the North America Product Stewardship provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Product Stewardship refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Get more information on this report North America Product Stewardship Strategic Insights
Get more information on this report North America Product Stewardship Report Scope
Report Attribute
Details
Market size in 2023
US$ 298.40 Million
Market Size by 2031
US$ 539.30 Million
Global CAGR (2023 - 2031)
7.7%
Historical Data
2025-2031
Forecast period
2021-2023
Segments Covered
By Component
By Deployment
By Organization Size
Regions and Countries Covered
North America
Market leaders and key company profiles
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North America Product Stewardship Market Segmentation
The North America product stewardship market is categorized into component, deployment, organization size, and country.
Based on component, the North America product stewardship market is bifurcated into services and software. The services segment held a larger market share in 2023.
In terms of deployment, the North America product stewardship market is bifurcated into cloud and on-premises. The cloud segment held a larger market share in 2023.
By organization size, the North America product stewardship market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.
By country, the North America product stewardship market is segmented into the US, Canada, and Mexico. The US dominated the North America product stewardship market share in 2023.
Eaton Corp Plc, Anthesis Group Ltd, CGI Inc, ERM Group, Inc., Wolters Kluwer NV, Intelex Technologies ULC, SAP SE, Sphera Solutions, Inc., Covestro AG, Linde Plc, Arcadis NV, 3E, Benchmark Digital Partners LLC, UL LLC, Pace Analytical Services, Dupont de Nemours Inc, Knoell, Young & Global Partners, Yordas Limited, and Phylmar Group, are among the leading companies operating in the North America product stewardship market.
The North America Product Stewardship Market is valued at US$ 298.40 Million in 2023, it is projected to reach US$ 539.30 Million by 2031.
As per our report North America Product Stewardship Market, the market size is valued at US$ 298.40 Million in 2023, projecting it to reach US$ 539.30 Million by 2031. This translates to a CAGR of approximately 7.7% during the forecast period.
The North America Product Stewardship Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Product Stewardship Market report:
The North America Product Stewardship Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Product Stewardship Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Product Stewardship Market value chain can benefit from the information contained in a comprehensive market report.
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