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Sustainable practices, which range from minimising a brand's environmental footprint to advancing sustainability goals, have helped create and cultivate authentic brands that resonate with consumer values and strengthen brand image.
Despite grappling with substantial sustainability hurdles, like resource intensity and waste generation, the tissue and hygiene industry is not only surviving but thriving. Seizing opportunities amidst challenges, the market for sustainable products saw an 8% value sales CAGR between 2020 and 2023, outperforming their non-sustainable counterparts.
Consumers’ increasing focus on health, performance, and transparency is driving businesses to rethink their product formulations, expanding sustainability communication beyond just vitamins and sports nutrition. In fact, sustainable products within the consumer health industry recorded an 8% value sales CAGR from 2020 to 2023, outperforming their non-sustainable counterparts.
Food ingredients Europe has been uniting the world’s leading food & beverage suppliers, buyers, R&D experts and production specialists for over 35 years.
As scrutiny intensifies on corporate sustainability communication, this is the first of a new series of articles highlighting key insights from Euromonitor’s Sustainability platform. The Beauty and Personal Care industry is experiencing a sustainability-led growth, with sustainable products seeing a 10% CAGR from 2020 to 2023. Utilising data from the AI-based Passport Sustainability platform, Euromonitor underscores the need for companies to adopt transparent sustainability practices. This key move not only helps manage risks and comply with regulation, but also harnesses the increasing consumer preference for sustainable products.
Amid ongoing inflation, intensifying geopolitical issues, and climate-related supply chain disruptions, the focus on sustainability seems to be taking a back seat to immediate concerns such as profitability. In fact, there was a 7-percentage-point decrease between 2023 and 2024 in businesses stating they have a sustainability strategy in place.
What is driving European consumer behaviour in 2024? Read this article for two consumer trends that are impacting brands in the region.