New report finds majority of consumers willing to pay more for sustainable packaging
According to new research by Trivium Packaging, nearly three-fourths (74%) of consumers are willing to pay more for sustainable packaging. The report, developed in partnership with Boston Consulting Group, surveyed participants for their preferences related to sustainable packaging, along with their willingness to pay more for products with environmentally friendly packaging.
Key report findings also include a majority of consumers who identify as environmentally aware, with more than two out of three consumers citing environmentally friendly, recyclable packaging as important. And of the 74% who said they would pay more for sustainable packaging, nearly one-fourth are willing to pay for an increased cost of 10% or more.
“This increased consumer awareness, driven by increased media coverage of the environmental impacts of pollution and large corporations transitioning away from plastics, whether it’s straws or grocery bags, truly underscores our findings,” said Michael Mapes, CEO of Trivium Packaging.
“Consumers’ focus is on sustainable living now more than ever, and they’re willing to pay to protect the planet. This presents brands a real opportunity to impact purchasing decisions by offering environmentally friendly options for their consumers.”
Report findings also show that nearly half of consumers actually shy away from harmful packaging. Of those consumers, 68% associate plastic with ocean pollution. According to research published by the American Association for the Advancement of Science, more than 8 million pieces of land-based plastic waste enter the ocean.
“With relatively low post-consumer recycling rates (single use) plastic continues to have an environment impact. In recent years, research has shown that approximately 79% of plastic accumulates in landfills or the environment”, said Jenny Wassenaar, vice president of Sustainability at Trivium Packaging.
“The metal packaging industry, a steady supporter of federal and global policy for climate change, is well positioned to champion climate action, since metal packaging recycles forever with high post-consumer recovery rates.”
Trivium Packaging’s survey was conducted by the Boston Consulting Group and includes responses from more than 15,000 US, European and South American consumers.
For more information, visit: www.triviumpackaging.com.