Has your business embraced sustainability or yet to do it? Yes, the regulations have now started to make this mandatory, but other than complying with the law, there are so many more reasons for achieving sustainability. Once you do, you can also enjoy so many sales benefits. According to research, green companies are more in demand and given more preference by consumers. The research claims that sustainable packaging is currently valued at $27 billon, and this is increasing at a pace of 4% on a yearly basis in three major markets; recyclables, reusables and degradeables. This new trend has been initiated by a number of key drivers, which we describe next.
Halo Effect
Awareness about the environment has increased on a global scale and the effects can be felt in the packaging sector as well. Consumers want green products, and their buying choices indicate the same. Want to attract your targeted audience? Develop a story about your business revolving around sustainability. If you belong to the supply chain sector, you can lure people with innovative designs and new green materials that are environment friendly.
Legal Landscape
There are areas in which polystyrene is still used, but in some regions, it has been completely banned. Even the US has played a role towards this and has forced corporations to exhibit more responsibility towards the packaging waste they produce. Make sure your business is complying to all the regulations that have been incorporated in your area.
Channel Pressures
There are so many companies aimed at waste recycling and helping organizations become green. Take their help and it will be easier for you to become sustainable. Onsite composite programs and supplier mandates have become common. A lot of colleges, restaurants and universities have also launched similar programs.
All Natural Revolution
There is a link between becoming a green company and sustainable packaging. Industry experts have predicted impressive growth rates for both for the next five years. The point is, with the rest of the market pacing ahead, you cannot be left behind. You must focus on all aspects and try to stand out among the crowd.
Product Innovation
Being green has become a necessity, and if you can do it the ‘cool’ way, your business will accelerate. Innovate your products and allow them to be both cool and green at the same time.
Source: www.environmentalleader.com
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