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Two thirds of consumers worried about climate change as COP29 debate heats up in Baku: Euromonitor International

11/21/2024
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  • Eco Logical is one of Euromonitor’s Global Consumer Trends for 2025
  • More than 60% of consumers say they have tried to have a positive effect on the environment this year 
  • 52% of shoppers think eco-friendly labels are trustworthy
  • Only 15% of consumers will pay extra for environmentally conscious food and drink

London, UK – Two thirds of consumers are concerned about climate change but only 15% are prepared to pay extra for environmentally friendly food and drink, according to data analytics company  Euromonitor International.

Eco Logical is one of Euromonitor’s five Global Consumer Trends for 2025 and comes as the debate on climate change hots up at COP29 in Baku, Azerbaijan. Consumers continue to make choices that positively impact the environment but are adopting an affordability mindset.

Inga Klebanskaja, senior research consultant at Euromonitor International, said: “Spending on sustainable products remains a conscious decision based on personal values but consumers also pay close attention to the key benefits these products deliver. Sustainability claims require tangible evidence.

“The Eco Logical trend challenges businesses to create the right claims on the right products for the right audience. Sustainability is no longer brand-enhancing but a prerequisite for innovation that drives growth.”

63% of consumers want everyday habits to be positive for the environment

More than 60% of consumers say they have tried to adopt habits that are positive for the environment in 2024 and nearly two thirds are worried about climate change.

Klebanskaja said: “Trust in green labels hasn’t wavered over the years but affordability continues to be the top barrier. Some 40% of consumers said high price prevented them from making sustainable purchases.

“In 2024, 52% of consumers considered eco-friendly labels trustworthy. Only 15% would pay more for these food and drink products.”

Sustainable product development is moving at speed

The number of online Stock Keeping Units (SKUs) with sustainability claims increased from 4 million in 2022 to 5 million in 2024 across 11 fast-moving consumer goods (FMCG) industries and 25 countries.

Klebanskaja said: “Brands with a tangible sustainable proposition saw a 1.5% higher growth rate over the same period compared to non-sustainable equivalents.

“Beauty and personal care brands’ enhanced offers in this space have generated more than USD120 billion in 2023, the highest industry by sales. Pet care products with sustainability claims recorded the strongest compound annual growth rate (CAGR) from 2020 to 2023.”

Global retail sales of sustainable products by industry

USD billion

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Source: Euromonitor International, Passport Sustainability

Tactics for businesses to win the sustainability race in 2025

Klebanskaja said: “Businesses need to use sustainability claims to show the value of their product and connect those features to qualities that drive consumers’ buying decisions - efficacy, quality or safety. They should build sustainability into products or services that are familiar to their target audience for easier adoption.”

For more information see Euromonitor’s Voice of the Consumer, Sustainability 2024 report.

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About Euromonitor International

Euromonitor International leads the world in data analytics and research into markets, industries, economies and consumers. We provide truly global insight and data on thousands of products and services to help our clients maximise opportunities, and we are the first destination for organisations seeking growth. With our guidance, our clients can make bold, strategic decisions with confidence. We have 16 offices around the world, with 1000+ analysts covering 210 countries and 99.9% of the world's consumers, and use the latest data science and market research techniques to help our clients to make sense of global markets. 

 

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