Drivers and barriers of circular economy business models: Where we are now, and where we are heading

Literature on the circular economy business model (CEBM) has witnessed a sharp upsurge in recent years. Although scholars have investigated CEBM from several perspectives, including the green business model, waste management, digital technology, the supply chain, and the financial impact of CEBM, critical analysis of the extant literature has not attracted scholarly attention. The current systematic literature review (SLR) on CEBM is an attempt to critically analyse and appraise the prior findings by following robust research protocols. We analysed a pool of 126 studies to identify the thematic research areas, recognise the research gaps and present future research agendas. Subsequently, we classified the research themes, namely the drivers of and barriers to CEBM. The paper thus provides a comprehensive assessment of the current state of the art on the drivers and barriers involved in executing CEBM. By identifying existing research gaps and presenting avenues for future research, the SLR illuminates the nuances of CEBM implementation. Moreover, we propose an actor-network theory-based conceptual framework for CEBM implementation for further investigation. We conclude the study by providing the theoretical and practical implications for those attempting to overcome the barriers and address the challenges involved in CEBM implementation.

Automated summary

The literature on the circular economy business model (CEBM) has been growing rapidly in recent years. However, there has been a lack of critical analysis of the existing literature. This systematic literature review (SLR) aims to critically analyze and evaluate the prior findings on CEBM, identify research gaps, and propose future research agendas. Through analyzing 126 studies, the paper provides a comprehensive assessment of the drivers and barriers of CEBM and presents a conceptual framework based on actor-network theory for further investigation. The study also offers theoretical and practical implications for overcoming barriers and addressing challenges in CEBM implementation.