As the world continues to grapple with the environmental impact of industrialization, businesses are seeking ways to lower their carbon footprint and encourage sustainable practices. One such approach is implementing a closed-loop supply chain. Closed-loop supply chain (CLSC) is an innovative approach that integrates forward and reverse logistics to create a closed-loop system of material flows, thus reducing waste and improving sustainability. It emerged as an important strategy for businesses to minimize the environmental effects, reduce the use of natural resources, conserve resources, and cut down the expenses. CLSCs have gained increasing popularity in recent years due to their potential to improve sustainability and maximize the value of products throughout their lifecycle. While many countries have adopted closed-loop supply chain practices, some have been particularly active in promoting and implementing them. This review highlights the opportunities and challenges associated with implementing a closed-loop supply chain.