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Flexo Sustainable : Winter 2015
Sustaining Growth Green Packaging Market to Grow to $244 Billion Sustainability is here to stay as a con- sumer concern, which means it is here to stay as a brand owner concern and therefore as a packaging concern. No longer a fad or trend, researchers are beginning to forecast where they believe the market for sustain- able packaging is headed. "Environmental concerns among consumers and governments are pushing the sustainable packaging agenda and encouraging the in- troduction of legislation to minimize the impact of packaging," writes Smithers Pira in it's e Future of Sustainable Packaging to 2018. at report predicts the global market for sustainable packaging to grow to $244 billion in the next three years. Paper packaging is the largest segment of the recycled materials market. It is followed by metal, glass and plastic. Perhaps even more important than the predicted value, the study also states that, "the issue of sustainable packaging will continue to grow in importance over the next decade and is predicted to become the No. 1 challenge facing companies, beating cost and other issues by 2023." Smithers Pira o ers several explanations for why that will be the case: CONSUMER CONSCIENCE DRIVES DEMAND More and more consumers know what the idea of sustainability is. ey know why it's important to be sustainable, what it takes to be sustainable and have formed opinions on it. at increased awareness is one of the factors driving demand for sustainable packaging. e re- port measures the most dramatic change in environmental awareness as happening in the past decade. And consumers eyeing sustainable packaging aren't only concerned about the present---they are thinking about the well being of future generations, too. Citing a survey by U.K. market researcher Ipsos MORI, Smithers Pira points out that nearly 80 percent of consumers believe the products they buy are over packaged. As a result, they are weighing a product's packaging when deciding whether or not to make a purchase. But despite these ndings, consumers are not placing packaging sustain- ability at the top of their lists of concerns, valuing convenience, habit and price more. " There are definitely opportunities out there for companies to gain competitive advantage through the development of an environmentally friendly strategy without sacrificing product quality or consumer convenience." 2 Sustainable FLEXO | WINTER 2015