Over 8 out of 10 CPG Manufacturers Ramping Up Green Investment
According to research by food and grocery expert IGD, 85 percent of consumer packaged goods manufacturers have either increased their investment in sustainability or kept it the same during the recession, in spite of the fact that just over two-fifths (42 percent) think the issue isn’t a high-enough area of concern for consumers.
While three-quarters (76 percent) of suppliers said they believe that sustainability will play a larger role in their trading relationships with retailers in the near future, 41 percent named stepped-up global competition for resources and 40 percent tagged more complex legislation as the two biggest threats to more widespread business sustainability in 2010 and beyond.
“Our recent consumer research has shown that shoppers are already concerned about the environmental impact of products and continue to seek value for their values,” noted Joanne Denney-Finch, chief executive of Watford, Hertfordshire, England-based IGD. “However, manufacturers are looking further to the future, increasing investment in sustainable solutions and anticipating that shopper interest in green products is still in its formative stages. It is set to be a major feature in the marketplace in the coming new decade.”
IGD’s research is based on interviews with 130 suppliers in 10 countries.
While three-quarters (76 percent) of suppliers said they believe that sustainability will play a larger role in their trading relationships with retailers in the near future, 41 percent named stepped-up global competition for resources and 40 percent tagged more complex legislation as the two biggest threats to more widespread business sustainability in 2010 and beyond.
“Our recent consumer research has shown that shoppers are already concerned about the environmental impact of products and continue to seek value for their values,” noted Joanne Denney-Finch, chief executive of Watford, Hertfordshire, England-based IGD. “However, manufacturers are looking further to the future, increasing investment in sustainable solutions and anticipating that shopper interest in green products is still in its formative stages. It is set to be a major feature in the marketplace in the coming new decade.”
IGD’s research is based on interviews with 130 suppliers in 10 countries.