Market Analysis of Consumer Preferences for Circular Economy Products: Opportunities and Challenges

Abstract

This study explores consumer awareness, preferences, and perceived challenges regarding Circular Economy (CE) products, aiming to understand the behavioural factors that influence adoption. Using a qualitative research design, data were collected through semi-structured thematic interviews with six participants selected based on their exposure to sustainability concepts and prior interaction with CE products. Thematic analysis revealed five core themes: consumer understanding of circular economy concepts, perceived value and cost considerations, environmental and ethical motivations, convenience and accessibility, and trust and information gaps. Findings indicate that consumer interest in sustainability is increasing, but understanding of CE is uneven and often restricted to recycling and second-hand consumption. Price consciousness, limited trust in green marketing, and low availability of CE products are substantial obstacles, even for people with environmental concerns. Participants stressed the importance of education, the need for harmonised standards, and the accessibility of circular alternatives. The current research is based on Theory of Planned Behaviour and Value-Belief-Norm Theory, thus providing a solid theoretical basis to understand and tackle planned and actual behaviours associated with the use of Circular Economy (CE) products. The study advances the academic discussion of sustainable product consumption and highlights the importance of strategic communication with regard to affordability and accessibility in maintaining the principles of CE. These results therefore set the foundation of further studies in the field of sustainability.