What is Product Stewardship Market?
Product Stewardship is an environmental management strategy that indicates whoever designs, manufactures, retails, or uses a product takes duty for reducing the product's environmental impact throughout all stages of the product's life cycle, including end of life management. It is a policy of minimizing the environmental impacts of products in the marketplace. The idea of product stewardship involves assembling and recycling products that are no longer useful, product design, and improved production. It spans purely deliberate programs initiated by manufacturers to mandatory approaches legislated by the government. The use of Product Stewardship is increasing owing to minimizing health, safety, environmental and social impacts, and maximizing economic benefits of a product and its packaging throughout all lifecycle stages
The market study is being classified by Type (Solutions and Services), by Application (Manufacturers, Retailers, Users and Disposers) and major geographies with country level break-up.
Anthesis Consulting Group (United Kingdom), Arcadis (Netherlands), CGI Group Inc. (Canada), Cority (Canada), ERM Group, Inc. (United Kingdom), Gensuite (United States), Intelex Technologies(Canada), John Wood Group PLC (United Kingdom) and Pace Analytical Services, LLC (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Covestro AG (Germany), Enablon France SA (United States), Enhesa (United States) and Enviance (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States and Canada Manufacturers will contribute to the maximum growth of Global Product Stewardship market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Product Stewardship market by Type, Application and Region.
On the basis of geography, the market of Product Stewardship has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing awareness among organizations to ensure the health and safety of their employees and environment protection
- Increasing requirement of enterprises to publicize their environmental, health
- Safety initiatives Complying with various environmental regulations and government guidelines
- Limited health and safety budgets of enterprises and high costs of product stewardship solutions and services
- Increasing use of product stewardship solutions and services by enterprises in building their brand images
- Complexities involved in managing large volumes of product data
Market Leaders and some development strategies
In September 2019 Sphera, a global provider of Integrated Risk Management software and information services with a focus on Environmental Health & Safety, Operational Risk and Product Stewardship Completes Acquisition of thinkstep, a Leading Sustainability & Product Stewardship Software Company.
In August 2020 The Sustainable Business Network is launching a product stewardship campaign to tackle Kiwi waste on the back of massive support for New Zealand businesses to reduce waste. The Sustainable Business Network is launching a product stewardship campaign to help reduce waste from New Zealand businesses.
"Product Stewardship Act 2011 No. 76, 2011 An Act to provide a framework for reducing the environmental and other impacts of products, and for related purposes. Voluntary product stewardship is an approach to reducing the environmental and other impacts of products by encouraging or requiring manufacturers, importers, distributors and other persons to take responsibility for those products."
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Product Stewardship Providers, Government Regulatory and Research Organizations and End-Use Industry
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