Emerging Business Model Archetypes in the Circular Economy: A Systematic Literature Review

In the circular economy, companies design their business models to align with circular principles and explore pathways for sustainable value creation. However, research on the circular economy business model (CEBM) is in its infancy, and existing business models remain incomplete and lack comprehensiveness, failing to encompass all emerging business models, and lack explicit criteria and scientific procedures. Additionally, terminological inconsistencies persist, leading to ambiguity in defining circular strategies and their interconnections. In response to this challenge, our study conducted a rigorous review of 106 scholarly articles on circular business models. Our primary objective was to enhance the understanding of CEBMs with an in‐depth review of these models from literature and employ an integrated framework to craft our unique categorization of CEBMs by thoroughly exploring the research purposes, categorization models, and CEBM archetypes outlined in the existing body of literature. Our findings show that research within this field remains to be theoretical. First, the primary aim of studies focuses on developing conceptual frameworks and models, creating supporting tools and methods, and analyzing drivers, enablers, and challenges. Second, among the most referenced frameworks in literature are those developed by the Ellen MacArthur Foundation and Accenture, which serve as foundational tools for practitioners. Third, studies of CEBM concentrate on closing the resource loop of a product life cycle. Future research should prioritize overlooked circular strategies, propose robust classification models, and address gaps in product‐centric and resource‐efficient business practice.