Sustainable Marketed Products Grow 5.6 x Faster
| According to a recent report by NYU Stern, products marketed as sustainable have seen sales grow 5.6 x faster than conventionally packaged products.
Overall sustainable marketed packaging made up over 50% of all growth within the packaged goods market, this is despite only accounting for 16% of the market overall. NYU Stern also postulate that marketing products in such way improves consumer loyalty and drives higher profitability overall.
This consumer drive to more sustainable and recyclable products and packaging is further backed up by a report from Accenture. The report found that whilst consumers are primarily focused on quality, 83% believe that it is important for companies to design products that are meant to be reused or recycled, and nearly three-quarters of the respondents said they are currently buying more environmentally friendly products than they were five years ago.
With the growing trends in consumer driven change away from single use materials, it is clear, that for companies to be successful with their products, they must consider not only the quality and design of their product and packaging, but also the sustainability.
With an estimated 80%* of all metal packaging ever produced still in use today and recycling rates above 80%* in Europe, metal packaging represents one of the leading materials to use in sustainable packaging and is one of the most recycled materials in the world today**. This makes it well placed to serve companies wishing to both capitalise on consumer sustainable trends whilst driving consumer loyalty and helping reduce their environmental impact on the planet.
Sources
Accenture: www.accenture.com
NYU Stern: www.stern.nyu.edu
*MPMA: https://www.mpma.org.uk/facts-figures/
**APEAL: https://www.apeal.org/recycling/
