How are Companies Adopting Sustainability Practices?

In the shift to sustainable practices like eco-friendly packaging, products and materials are no longer on the horizon but ever-present.

Fremont, CA :The move to sustainable practices is seen in consumers and the brands’ social responsibility initiatives in the decision making for a purchase. The worldwide demand for sustainable packaging is predicted to reach approximately $400 million by the year 2024, along with a compound annual growth rate (CAGR) above 7 percent. So much so, that some brands have started to integrate environmentally friendly practices, with other companies leading the pack. No matter where does a company stand on the horizon of sustainability, there is always space for growth as well the needed demand to support it.

With the growing consumer awareness of sustainability brand practices, some considerations are to be done by the companies in order to stay ahead in the competition.

When adopting sustainable materials, it is suggested that using specific substrates like biodegradable ones for environmental purposes can add to the costs compared to the traditional, non-sustainable materials. The biodegradable packaging is qualified by the materials' ability to entirely break down and decompose into the natural elements in a short period after disposal, primarily within a year or less than that. The materials can be made up of paper and cardboard, corn starch, recycled polyethylene, or plastarch material. There are few packaging options the preserve foods with minimal or no preservatives. The companies have to make sure that like natural and organic foods continue to grow in popularity, and the packaging also possesses the packaging enhancing attributes, like recyclability, reusability, or biodegradability.

Generically speaking, consumers are increasingly motivated to be environmentally conscious. The consumers usually gravitate towards sustainable packaging options; they may not completely understand the impact that they possess on the sustainable supply chain and how can the compost products be recycled appropriately after use. At present, manufacturers are using labels to indicate the sustainability advantages of packaging choices and to give instructions on how to recycle the materials post consuming with the product. The brands can additionally leverage smart packaging like quick response (QR) codes that enable the consumers to access added information on a product and how to recycle it with the help of a simple scan.

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