In a world increasingly focused on sustainability, businesses are scrambling to understand and adapt. While over 60% of global businesses have implemented sustainability strategies, only 10% believe they effectively communicate their efforts. This gap is where Euromonitor International’s upgraded Passport Sustainability platform comes in.
This comprehensive platform offers businesses a powerful tool to navigate the complexities of the green market. It provides insights into consumer sentiment, tracks the performance of sustainability claims, and helps businesses craft effective strategies for success. In 2023 alone, 20% of global sales were generated by products featuring sustainable claims, showcasing the growing demand for environmentally conscious options.
Passport Sustainability covers 11 industries, 25 global markets, 50 product categories, and over 70 sustainability claims, providing a deep understanding of the evolving landscape.
Transparency and Trust
The platform highlights the importance of clear and honest communication to avoid greenwashing. While ‘natural’ remains the leading sustainability claim in value sales, its vagueness has led to concerns about misleading consumers. This is particularly evident in the Beauty, Personal Care, and Pet Care industries, where a significant percentage of products feature ‘natural’ claims. Regulatory bodies in the EU and the US are responding by implementing bans on unsubstantiated sustainability claims.
Beyond Natural: Clean Labels and Diet Claims
Organic, GMO-free, and Vegan/Vegetarian claims have emerged as top contenders in value sales across various industries. These ‘clean label’ products resonate with consumers seeking healthier and more ethical options.
The breakfast cereal sector is leading the charge with over 20% of products featuring a vegetarian claim. This trend is expected to continue, driven by investments from major retailers like Tesco, Walmart, Albert Heijn, Carrefour, and Lidl.
Zero Waste and B Corp: Embracing a Holistic Approach
Zero Waste and B Corp certifications are gaining traction among companies seeking to demonstrate a commitment to sustainability. Zero Waste focuses on minimizing waste and raw material usage, while B Corp certification acknowledges a company’s commitment to social and environmental performance.
The beauty industry is leading the way in B Corp certification, with brands like The Body Shop, Dr Hauschka, and Elemis embracing this standard. Meanwhile, staple foods and snacks are seeing a significant increase in B Corp claims, with a 49% and 40% rise in SKUs over the last two years.
Navigating the Future of Sustainability
Euromonitor’s Passport Sustainability platform provides businesses with the information they need to navigate the evolving green market. By understanding consumer preferences, tracking the performance of sustainability claims, and engaging in transparent communication, businesses can effectively position themselves for success in a world increasingly focused on sustainable solutions.
