Circular Business Models: A Bibliometric Analysis

ABSTRACT Circular business models (CBMs) have attracted growing academic and managerial attention. In response to the expanding literature, this study provides a bibliometric analysis of 1703 articles using performance analysis and science mapping. The findings reveal a fivefold increase in publications over the past 5 years, a concentration of research in three main journals, and a predominance of European authors and institutions. The analysis identifies five established research streams covering CBM conceptualization, implementation, assessment, market and consumer dimensions, and product‐service systems, alongside the following four emerging trends: digital technologies as key enablers; sector‐specific implementation conditions; innovation processes and microfoundations of dynamic capabilities; and critical approaches to CBMs. Building on these findings, two complementary research avenues are proposed: refining and expanding CBM research through greater attention to specific contexts, microfoundations of dynamic capabilities, and digital technologies; and critically reassessing existing approaches to better integrate social dimensions and ecosystem‐level perspectives.