"The global economy faces a challenge with circularity. The Circularity Gap Report 2024 from the Circle Economy Foundation and Deloitte shows that just 7.2% of materials used worldwide are recycled or reused, a drop from 9.1% in 2018. Even as awareness grows, the amount of recovered and recycled materials has actually decreased by 21% in the last five years."
"However, some companies are showing that circular business models can be both good for the environment and profitable. Research in the journal Business Strategy and the Environment finds that circular economy strategies can bring real financial benefits while also cutting environmental impact. The Ellen MacArthur Foundation notes that $400 billion has been invested recently to help the circular economy grow."
"Ingka Group, the biggest IKEA franchisee with 574 stores in 31 countries, has changed furniture retail by offering a range of circular services. In 2024, IKEA bought back more than 495,000 used furniture items through its Buyback and Resell program. These products get a second life in the As-Is sections and through the new IKEA Preowned marketplace, which is being tested in Oslo and Madrid."
Global material circularity is low at 7.2% and has declined from 9.1% in 2018, with recovered and recycled materials decreasing 21% in the last five years. Circular business models can deliver financial benefits while reducing environmental impact, and recent investments of $400 billion support circular economy growth. Patagonia's Worn Wear program and lifetime repair guarantees exemplify circular practices in clothing. Multiple consumer goods companies demonstrate scalable circularity. Ingka Group (IKEA) bought back over 495,000 used items in 2024, provided 25.8 million free assembly parts to 2.2 million customers, reduced its climate footprint 24.3% and grew revenue 30.9% from 2016–2024.
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