What began as increased interest in simpler labels has evolved into consumer preference for greener products sustainably manufactured by companies prioritizing environmental and social responsibility. Currently, consumers are willing to pay an average of 30 percent more for ethically produced goods. A growing global population—along with concerns ranging from food waste and water supply to climate change—makes sustainable sourcing along the supply chain a mandate, and not just an altruistic goal.
Takeaways for Your Business
- According to FAO, one-third of the food produced globally is either lost or wasted every year.
- Consumer concerns include water quality, GMOs, fracking, pollution, climate change and food access.
- Nearly 75 percent of Millennials are willing to pay more for sustainably positioned products.
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