Global levels of material extraction and consumption have been rising exponentially since the beginning of the twentieth century. In 2018, the amount of raw materials extracted was estimated at 92 billion tonnes, and is estimated to double to 177 billion tonnes by 2050 based on the current trajectory, mainly as a result of the linear economy model of production and consumption currently adopted in our global economy. Applying a circular approach to the global economy and its production and consumption processes is an attempt to alleviate pressures on raw materials, energy, and water resources and to minimize waste generation, pollution, and carbon emissions. It is offered as a solution to address the many failures resulting from the linear model.