Reverse Vending Machine Market is growing rapidly as increasing amount of waste has created critical issues regarding their disposal due to limited number of landfills, therefore it is pivotal to adopt recycling to manage waste effectively.
Albany, NY -- (SBWIRE) -- 05/19/2018 -- The amount of untreated waste has increased at an alarming rate creating significant demand for various recycling solutions such as reverse vending machines. Reverse vending machines (RVMs) are employed to dispose and recover recycled products more effectively are used for cost effective waste disposal and recycling. These machines have automated systems used to collect and sort used containers and dispense cash incentive in return based on the quantity. RVMs help encourage recycling, reduce landfills, lower greenhouse emissions, and avoid the use of virgin materials for new products. These machines have various advanced features such as huge storage capacity, UPC scanner, and horizontal in-feed system.
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Increasing amount of waste has created critical issues regarding their disposal due to limited number of landfills, therefore it is pivotal to adopt recycling to manage waste effectively. The current manual recycling method is discouraging as users are required to collect the waste in bulk. Therefore, the reverse vending machine is used in varied applications which provides refund to customer by identifying the amount for each container. The revenue growth of the global reverse vending market is driven by new installations and servicing of older machines. The government has passed new regulations to promote the reuse, reduce, and recycle waste. This is anticipated to propel the demand for reverse vending machine demand during the forecast period.
The reverse vending machine market can be categorized as a broader industry for waste sorting, gathering, and recycling. The service amount depends upon the machine's volume and age, wherein higher volume machines require longer servicing cycles. Technological advancements in reverse vending machines such as video recognition systems, touch panels, and smart card vouchers is expected to enhance the user experience. This, in turn, is anticipated to propel the market.
The reverse vending machine market can be segmented based on product type, machine use, capacity, end-use, and regions. In terms of product type, the market can be divided into metal recycling, plastic bottle recycling, and multifunction recycling. Based on machine use, the reverse vending machine market can be classified into commercial, industrial, and residential. In terms of capacity, the market can be categorized into less than 200 (cans or bottles), 200 – 300 (cans or bottles), 300 – 600 (cans or bottles), and more than 600 (cans or bottles). Based on end-use, the market can be segmented into distributors, retailers, municipalities, and beverage industries.
In terms of geography, the reverse vending machine market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the market as the region has stable demand for reverse vending machine from government, retailer, and beverage industries. The market in Asia Pacific is expected to expand at a significant CAGR from 2017 to 2025 due to the expansion of the food service industry.
The prominent vendors of the reverse vending machine market include Wincor Nixdorf, Holdings N.V, Repant ASA, Tomra Systems ASA, Envipco Holdings N.V., Aco Recycling, N&W Global Vending Group, and Spengler GMBH & Co KG. The RVM companies operate with two business models. The first business model is the sales model, which consists of machines that are being sold to retail stores. The second business model is the leasing model, in which the reverse vending machines maintains the ownership of the installed RVM and receives payments based on the numbers of containers handled by the machine. The RVM industry is consolidated with top three to four companies accounting for a major share of the market.
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The industry vendors are strategically focusing on increasing their global footprint by adding different technologies to the RVMs. For instance, in February 2017, Tomra has introduced smart reverse vending machines which is equipped with Internet of Things (IoT) for providing different benefits to the customers which include points program, notifications, and marketing and donation benefits.