Product Stewardship Market is expected to reach US$ 2.45 Billion by 2031

Rise In Corporate Social Responsibility Initiatives to Fuel Product Stewardship Market Growth During Forecast Period 

According to our latest study, "Product Stewardship Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Component, Organization Size, and Geography," the market was valued at US$ 1.26 billion in 2023 and is expected to reach US$ 2.45 billion by 2031; it is estimated to record a CAGR of 8.7% from 2023 to 2031. The report includes growth prospects owing to the current product stewardship market trends and their foreseeable impact during the forecast period.

Many businesses are increasingly integrating product stewardship into their corporate social responsibility (CSR) strategies as a means to showcase their genuine commitment to sustainability and environmental stewardship. For instance, LEGO is committed to minimizing the environmental impact of its operations by aiming for a 37% reduction in absolute greenhouse gas (GHG) emissions by 2032 and striving to achieve net-zero emissions by 2050. Additionally, the company is focused on decreasing both waste and water consumption. LEGO is also actively pursuing the enhancement of sustainability in all its packaging and is dedicated to eliminating single-use plastics from its products. General Mills classifies its objectives into three main categories: food, planet, and people. Notable highlights of its Corporate Social Responsibility (CSR) impact include achieving 100% Global Food Safety Initiative (GFSI) certification for all company-owned production facilities, ensuring that 92% of General Mills packaging is recyclable or reusable, and contributing US$ 90 million to charitable initiatives in 2023. By adopting practices that emphasize responsible product lifecycle management—such as reducing waste, promoting recycling, and ensuring safe disposal—companies can not only meet regulatory compliance requirements but also positively influence their market perception. This proactive approach fosters transparency and accountability, which are essential for developing and preserving trust with stakeholders, including customers, investors, and community members. As stakeholders become more discerning and demand greater corporate responsibility, businesses that prioritize product stewardship can differentiate themselves from competitors, enhancing their reputation and cultivating long-term relationships based on shared values of sustainability and ethical practices. Ultimately, this integration of product stewardship within CSR not only reinforces companies' commitment to the environment but also positions them as leaders in their industries, paving the way for innovation and sustainable growth, which is fueling the product stewardship market growth.  

Product Stewardship Market Analysis — by Geography

Source: The Insight Partners Analysis 

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 are among the key players profiled in the product stewardship market report. Several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.

The report includes the product stewardship market forecast by component and organization size. In terms of component, the market is segmented into software and services. The software segment is further bifurcated into on-premises and cloud. Based on organization size, the market is divided into large enterprises and SMEs. In terms of revenue, the services segment held the largest product stewardship market share.

The scope of the product stewardship market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Europe dominated the market in 2023, followed by APAC and North America.

The Asia Pacific product stewardship market is segmented into Australia, China, Japan, India, South Korea, and the Rest of APAC. In terms of revenue, China held the largest product stewardship market share in APAC. The China product stewardship market is rapidly evolving, driven by increasing regulatory pressures and a growing public awareness of environmental issues. A prominent example of a company leading in this area is Alibaba Group, which has implemented various initiatives to promote sustainability and responsible product management. Alibaba has launched programs aimed at reducing packaging waste and enhancing recycling efforts across its e-commerce platforms. The company actively collaborates with brands to encourage the use of eco-friendly materials and to facilitate the recycling of products sold through its marketplace. By prioritizing product stewardship, Alibaba complies with China's stringent environmental regulations and enhances its corporate social responsibility profile, urging environmentally conscious consumers in the vast market in China.

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