NETHERLANDS – New data from Trivium Packaging reveals that demand for eco-friendly and sustainable product packaging is on the rise despite soaring prices.
According to Trivium’s 2023 Buying Green Report, released in conjunction with Earth Day, consumers are willing to pay more for products in sustainable packaging despite increasing prices caused by global inflation.
The report shows that 82% of respondents overall would be willing to pay more for sustainable packaging, up four points from 2022, and eight points since 2021, signaling that even with a worsening economic situation, the environment remains a consumer priority.
Younger consumers (18–24 years) are even more willing, leading at 90%.
Consumers now consider their purchases’ impact on the environment, and the majority already have incorporated sustainable practices in their daily lives.
The survey also reveals that 63% of consumers are now less likely to buy products with packaging that is harmful to the environment.
In addition, 71% already engage in reusable and refillable activities (and 80% are interested in buying refillable packaging products to reduce their environmental impact), while over half engage in reducing food and packaging waste.
Narrowing in on sustainable packaging specifically, 71% of consumers are actively choosing products due to the sustainability factor of the product packaging.
Interest in purchasing products in sustainable packaging has increased since 2022, especially among younger consumers and high earners.
While 59% look for information on the label about recycling and sustainability, 46% say the biggest barrier to purchase was unclear labeling on packaging.
Jenny Wassenaar, Chief Sustainability Officer, at Trivium Packaging said: “There’s a major opportunity here to improve consumer understanding of sustainability claims.
“The data in this year’s Buying Green Report shows that consumers seek more information than ever to improve their understanding of eco-friendly packaging.
“Trivium’s imperative is to not only incorporate sustainability at every level of our business but to educate consumers on what they’re buying and the impact of their purchase.”
The 2023 Buying Green Report is based on a survey of more than 9,000 consumers across Europe, North America, and South America exploring participants’ values and behaviors related to sustainable packaging amid a changing world.
The fourth annual report provides insight into consumer trends globally, and by age, income, and region.
“The data in this year’s Buying Green Report presents a strong case that transitioning to sustainable packaging is not only the right decision for the environment but also the right decision for the business,” said Trivium Packaging CEO Michael Mapes.
Similarly, a survey from McKinsey & Co. shows that 66% of all respondents and 75% of millennial respondents say that they consider sustainability when they make a purchase.
Customers now align themselves with brands that are compatible with their values and priorities. With environmental stability as a high priority for many people, businesses must do their part to lower their carbon footprint.
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