Understanding circular economy can be compared to the industrial economy. The circular economy works by designing out wastes and economic activities that adversely impact human health and natural systems. It encompasses the release of greenhouse gases and traffic congestion. The application of the concept also influences designing products for durability and recycling. Adopting a circular economy ensures that different uses of materials can be achieved. It regenerates the use of living systems by avoiding the usage of fossil fuels and non-renewable energy sources. The vision of the circular economy is the regeneration of the products that renew and replenish throughout various life cycles and uses. The application of the circular economy is beneficial since it aims to reduce waste and offer a stark alternative. As the world population is growing, the environment is being affected by the deposition of waste. Roughly one-third of the food shaped for human consumption goes to surplus. High population growth has seen over-utilization of resources that exceeds the earth’s bio-capacity. Shifting to a circular economy goes beyond reusing and recycling. It requires companies to evaluate the impact of products on the environment. Regeneration in the circular economy ensures that products and services contribute to renewals in various processes. Consequently, the reliance on a circular economy promotes stability and growth by consuming scarce natural resources.

Opportunities go to waste due to poor strategies for innovation. People no longer live in a world of cheap and abundant materials. For instance, over 300 metric tons of plastics are produced annually, and only a small portion is reused and recycled. Many of them end up landfilled and washed up on the shorelines. It is essential to adopt a circular economy to boost a nation’s GDP and reduce the cost of materials. On the consumer level, it results in high-quality products and sustainable services. It is a call to evaluate the environmental impacts of products and their components. Implementation of the circular economy faces challenges, such as a need for more awareness and willingness to engage in greener initiatives. Some countries may also need more proven technologies and implement policies to support the transition. When a country needs to shift to a circular economy, it has to use regenerative approaches to business processes. For instance, they can design for the future and incorporate digital technologies. It results in the strengthening and advancement of knowledge in industries. Furthermore, leaders must consider opportunities to create excellent value and build on incentives.