Circular economy practices as a mediator between reverse logistics, product value recovery, and sustainable industries

This study aimed to investigate the implementation practices of reverse logistics, product value recovery, and circular economy practices, as well as to examine their influence on the development of a sustainable industry. With a quantitative research design, the population included 23,400 food and beverage companies in Thailand that were registered with the Department of Business Development (DBD) in 2022 and had over 100,000 employees. This study examined 400 sample questionnaires using Pearson's Correlation Coefficient, Confirmatory Factor Analysis, Structural Equation Modelling, and Path Analysis. This study found that the most considerable reverse logistics (RL) practice was used product acquisition (UA) through sustainable sourcing, that is, purchasing raw materials from an organic and environmentally responsible producer who preserves and conserves natural resources through sustainable and equitable labour practices. Moreover, the value recovery of used products (VR) contributed significantly to the practices of the circular economy (CEP) that resulted in sustainable industry (SI). Value recovery actions such as the recycling and repackaging of used plastics, bottles, and cans from the food and beverage industry not only provided cost and waste reduction, but also enabled the principles of the circular economy and reduced the exploitation of natural resources. These findings indicate that closed-loop recycling and resource-optimised technologies should be prioritised for sustainable sourcing since they promote the three pillars of sustainability in the food and beverage sector.