You don’t have to look far in the personal care space for innovative packaging. And the fact that many packaging innovations are designed to improve eco-friendliness is encouraging.
Companies making the effort to produce more environmentally-responsible products and packaging are likely to find sales dollar growth as a reward. In a study from the NYU Stern School of Business, Center for Sustainable Business, thirty-six CPG categories which comprise 40% of the total CPG market dollars were reviewed to measure consumer purchasing from 2013 to 2018, specifically looking at sustainability-marketed products. Although the thirty-six categories include many categories outside of the beauty or personal care segment, it’s still telling that across all categories studied, sustainability-marketed products increased from 14% share of market in 2013 to 16.6% in 2018.
Companies such as Unilever are making commitments to, and following through on, sustainability goals both short- and long-term. Niki King, head of sustainability for Unilever North America, stated, “Globally, we’re committed to a 50% virgin plastic reduction by 2025 and an absolute reduction of 100,000 metric tons.”
[Read More: Capitalizing on cosmetics in grocery]