For this reason, the demand for sustainable foods is growing in the market. Can changing your mindset change everything? Nielsen combines sustainability into free-from, clean, simple, sustainable and . For example, one study found Spanish consumers were willing to pay 2237% more for green products, but Japanese consumers were only willing to pay 822% more for green products. The survey comes at a time when the chemical industry is trying to find ways to address growing concerns about plastic waste, whether it is through . The Consumer Sustainability Survey (2019) found that 72% of consumers buy more environmentally-friendly products than five years ago. The Generational Gap: Younger consumers are more actively taking steps towards being more sustainable. Over 30,000 people in 60 countries were polled about their purchasing habits, and 66% of respondents said that they were willing to pay more for products and services from companies who are IRIs data comes from bar scan codes at retail checkout in food, drug, dollar, and mass merchandisers. Traditional advertising will not work with Millennials. In 1989, 67% of American consumers stated that they were willing to pay 5 - 10% more for sustainable products. The legacy companies that will thrive are those that accept this shift and are willing to pivot, such as PepsiCo and Unilever. You need at least a Starter Account to use this feature. We see the impact of similar sentiment around shower gel, a category where naturals own 10.3% of the value share, and the overall category saw sales decline 0.8%. In the US, this number is just over the global average at 61 percent. We examined over 36 categories and more than 71,000 SKUs, which accounted for 40% of CPG dollar sales over the five-year period. Most important,. Indeed, one recent report revealed that certain categories of products with . The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). 1 Over 30,000 people in 60 countries were polled about their purchasing habits, and 66% of respondents said that they were willing to pay more for products and services from companies who are committed to positive social and environmental impact. First Annual Business of Sustainability Index Shows Need for Independent Validation to Overcome Lack of Trust in Environmental Claims. She's a strong young feminist poet, an inspiration, and I trust her product because she was open about how she sourced the materials for it. These brands speak to consumers interest in aligning their shopping with their values: Hellmanns uses 100% cage-free eggs in its U.S. products, for example. Georgetown University School of Continuing Studies. I dream of a world in which all factory farms are destroyed. Interestingly, of the people that are willing to pay a sustainability premium, the premium amount is lowest for Consumer goods (22 percent premium on average) it is highest for Financial services (27 percent premium on average). Sustainability is a worldwide concern that continues to gain momentumespecially in countries where growing populations are putting additional stress on the environment, says Grace Farraj, senior vice president, Public Development & Sustainability, Nielsen. Meanwhile, fish and seafood dollars and units rose 8.7% and 2.7%, respectively, from 2017 to 2019, outpacing the growth of other proteins, including legumes, nuts and seeds. The shift in consumer buying, where more consumers are willing to pay more for environmentally conscious products, underscores the need for manufacturing companies to enhance their commitment to responsible business practices using technologies that support more sustainable product design and development. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. Again, younger generations lead the way as higher shares of Generation Z (39 percent) and Millennials (42 percent) are willing to pay for sustainability compared to Gen. X (31 percent) and Baby Boomers (26 percent). We assessed third-party certification, such as USDA organic and Fair Trade, and the packagings claims about undesirable traits (such as genetically modified, BPA, parabens, antibiotics, growth hormones) and positive characteristics (local, grass-fed, compostable, animal crueltyfree). Globally, sustainability is rated as an important purchase criterion for 60 percent of consumers. , Feb 8, 2023. Get the full study Join Your Peers A substantial portion of consumers are currently willing to pay for sustainability, demonstrating that there is a market for mission-driven green companies and why we see a rise in sustainable companies around the world. For example, plant-based is not a material issue in cereals, as most are plant-based; it is in detergents, where it means toxic chemicals are not used. We also reviewed which categories had the largest share of sustainability-marketed products. Millennials already played a significant . Given the evidence that consumer tastes are changing, an attitude of Why mess with a recipe that has worked well over the last 40 years? is the wrong one to take. Commitment to either social value or the consumers community are also important (each influencing 43% and 41% of respondents, respectively). Most important, products marketed as sustainable grew 5.6 times faster than those that were not. And as social media channels continue to burgeon, the voice of younger generations will only increase the demand for sustainability. New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. Then you can access your favorite statistics via the star in the header. According to market research firm Nielsen, just 22% of the world's consumers were willing to pay more for an eco-friendly product in 2011, despite the fact 83% thought it was important. Mr Harrison says, however, that customers are becoming more canny. Mr. Davis said of the survey: Companies must build trust and loyalty by clearly demonstrating that they share environmental goals with their customers. In other words, I'm willing to spend more (a lot more, in fact) to know that what I'm spending my money on is actually good for the earth and the people on it. Consumers are willing to pay more for greener products and want producers to provide better climate-related on-label packaging. Millennials gave an even more impressive showing, with 73 percent indicating a similar preference." Simon-Kucher & Partners, Strategy & Marketing Consultants: Simon-Kucher & Partners is a global consulting firm specializing in TopLine Power. When it comes to sales intent, commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. Accessed March 02, 2023. https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/, Deloitte. This behaviour isn't just limited to the wealthy in big economies. tel. For the US, 22 percent of consumers indicate major changes to the behavior, but that number jumps to 55 percent when including those who say theyve at least made some modest changes. Consumers could note if they were willing to pay "a little" or "a lot" for each sustainability benefit. As a Premium user you get access to the detailed source references and background information about this statistic. 75% of millennials are willing to pay extra for sustainable products.3Coffee cups, palm oil, and single-use plastics are some recent products to face public discussion, which leaves businesses rethinking both the sustainability of their materials and processes, and the environmental impact and recyclability of their products. All these terms are used in labelling to make us feel good if we buy products claimed to minimise harm to the planet and the environment. In one survey, 66% of all respondents, and 75% of millennial respondents, said they consider sustainability when making a purchase. In this category, catering to consumer demand for a more sustainable shampoo not only benefits the environment, but it also bolsters the bottom line of companies smart enough to give them what they want. 5 Ways to Connect Wireless Headphones to TV. Ryan Rudomineris a principal at R2 Strategic Consulting where he specializes in strategic communications, advocacy, and media relations. Nielsen reported in 2014 that half of young consumers were willing to pay more for sustainable products. Feb 28, 2023. Defending and preserving our planet is not only the right thing to do, its good business. NYU Sterns Center for Sustainable Business just completed extensive research into U.S. consumers actual purchasing of consumer packaged goods (CPG), using data contributed by IRI, and found that 50% of CPG growth from 2013 to 2018 came from sustainability-marketed products. This creates both future challenges and opportunities for all companies as the world becomes more sustainable. About a 3 minute read. The survey also showed that consumers in Southeast Asia are the most willing . Consumers are trying to be responsible citizens of the world, and they expect the same from corporations. And investors should support companies in making the investments needed for the pivot. This likely depressed the growth numbers, as many brands have become more sustainable over time. In fact, the majority (73%) of global consumers say they would definitely or probably change their consumption behavior to reduce their impact on the environment. Saving biodiversity: why our mental and physical health depends on it. Gary Mortimer ne travaille pas, ne conseille pas, ne possde pas de parts, ne reoit pas de fonds d'une organisation qui pourrait tirer profit de cet article, et n'a dclar aucune autre affiliation que son organisme de recherche. According to Nielsen, 66% of all consumers are willing to pay more for sustainable brands. Speaking with: law professor Cass Sunstein, on why behavioural science is always nudging us. Shoppers once selected grocery products based simply on price or brand, but now attributes such as climate-friendly or eco-friendly are part of the consideration. If you are an admin, please authenticate by logging in again. Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category [Graph]. They accounted for 16.6% of the market in 2018, up from 14.3% in 2013, and delivered nearly $114 billion in sales. Globally, 85 percent of people indicate that they have shifted their purchase behavior towards being more sustainable in the past five years -- however, we observe meaningful generational differences in attitude. Companies across industries have . In 2013, India banned all animal testing, then banned even the import of beauty products that engage in animal testing. lire aussi : Wed suggest they follow the data. I can attest to the fact that sustainability isn't just something I "sorta kinda" consider--it's one of the primary reasons I either buy or don't buy from consumer brands. An online survey of more than 1,000 consumers took place in July and found 68% of respondents said they were willing to pay more for sustainable products. For further information please contact: But nearly 60% are unwilling to pay more money for that eco-friendly product.. Hence, despite environmental concern and the positive attitude of customers towards sustainability and green products, its estimated the market share of green products will reach only 25% of store sales by 2021. Minds can be changed, laws can be changed, and companies can be changed. zharris@prosek.com, Internet Explorer presents a security risk. it is biodegradable (65%) or made from recycled packaging (60%), when it comes to making a purchase, consumers value durability . Design Globally, willingness to pay for sustainable products or services is highest in US (42 percent), with these the US also representing the highest average premium (37 percent premium). I dream of a world in which clothing is more expensive across the board, but there are no more sweatshops anywhere, and no more slash-and-burn. Companies must act now to avoid obsolescence in the future. Given that sustainability issues vary by category, we also assessed whether a claim concerned a material environmental or social issue for that category. "Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category." The rise in the percentage of respondents under 20, also known as Generation Z, who are willing to pay more was equally strongfrom 55% of total respondents in 2014 to 72% in 2015. A survey by Nielsen found that 66% of consumers are willing to pay more for sustainable products. Are consumers really willing to pay more for sustainable products? So while not all consumers will pay more for green climate-friendly products despite the best of intentions, we can slowly nudge them to make better choices for the planet. Today, 50 percent of consumers rank sustainability as a top five value driver, said Dr. Andreas von der Gathen, co-CEO of Simon-Kucher. Statista. Please do not hesitate to contact me. BOSTON--(BUSINESS WIRE)--With COP26, the 2021 United Nations Climate Change Conference, just weeks away, a major study of more than 10,000 people across 17 countries shows that sustainability is becoming increasingly important in consumers purchasing decisions, especially as consumers see themselves, along with for profit companies, as the primary catalysts for change. Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. The Global Sustainability Study 2021 survey was conducted in July 2021 by Simon-Kucher & Partners, fielding through panel data provided by Dynata, an independent market research agency. Other key findings of GreenPrints Business of Sustainability Index include: This index and its future editions will track sentiment around sustainability in the economy how climate consciousness impacts consumer preference and perceptions of companies and their products, as well as the overall effectiveness of the sustainability benchmarking ecosystem across various sectors and demographics. Academic research has consistently identified this gap between purchase intentions and behaviours. Consumers are also willing to pay more for chocolate products that are free-from 'undesirable' or artificial ingredients, a subset of products that makes up 15.2% of the overall chocolate category . By almost any measure, Millennials place a premium on corporate social responsibility (CSR) efforts. You can unsubscribe at any time using the link in our emails. Ultimately, the research that evaluates consumers willingness to pay more for green products has been mixed. Nielsen's 2015 Global Corporate Sustainability Report has revealed that brands showing a commitment to sustainable practices are receiving support from consumers, who are willing to pay more for . "Consumers are really seeking to purchase products that help them stay true to their values and what they consider matters most to them," said Parker. Nielsen's 2014 Global Survey on Corporate Social Responsibility, released Tuesday, shows that 55 percent of global online consumers across 60 countries are willing to pay more for products and services from companies that are committed to positive social and environmental impact. "Our sustainability. Some more takeaways on consumer habits: More than 8 in 10 recycle and replace lightbulbs with energy-efficient options. But the results should be interpreted cautiously. Products that had a sustainability claim on-pack accounted for 16.6% of the market in 2018, up from 14.3% in 2013, and delivered nearly $114 billion in sales, up 29% from 2013. I don't dream of a world full of cheap lip gloss that was tested on animals; I dream of one in which that kind of beauty product is illegal everywhere, period. Companies have used this conventional wisdom as justification for not making their products more sustainable. Nearly three . A majority of people have doubts when companies say they are environmentally friendly, with 53% of Americans never or only sometimes believing such claims. It's not just a morally good idea, either; it's lucrative. This isn't a pipe dream. The relative importance of sustainability during the purchase process will continue to increase. In 2014, less than 30 . Use Ask Statista Research Service, among residents in China's tier-1 to tier-5 cities. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. According to the findings, 78% of people are more likely to purchase a product that is clearly labeled as environmentally friendly. All rights reserved. However, as demand grows for sustainable products and they become the expectation rather than the exception, sustainability will become table stakes and hygiene factors, said Jain. I don't dream of a world with 99 cent hamburgers available at any roadside fast food place. As a result, many consumers have adopted more sustainable behaviors. Access to this and all other statistics on 80,000 topics from, Show sources information On the flip side, large global consumer-goods brands that ignore sustainability increase reputational and business risk. And how can we encourage people to make good choices? Corporate leadership should no longer give brand managers a pass when they claim that there is no demand for sustainable products. Prosek Partners Looking at web sites for information on business and manufacturing practices. Complete study findings are available upon request, including country splits. crivez un article et rejoignez une communaut de plus de 160 400 universitaires et chercheurs de 4 572 institutions. A paid subscription is required for full access. Are you making an effort to reach these socially conscious young people? Consumers have some understanding of what makes a product sustainable but it is not necessarily a consideration when making a purchase Although the majority of consumers recognise what makes a product sustainable i.e. For years, researchers have examined climate-oriented consumption to see if it actually wins consumer support. That's why we're seeing a shift towards sustainable farming, farm-to-table, and organic botanical ingredients.". On Earth Day 2020, the organisation Climate Neutral an independent non-profit organisation working to decrease global carbon emissions confirmed 103 brands had completed its certification process in 2020 and 50 other brands were still in the process. What is the World Economic Forum doing about the circular economy? Deloitte. Available: https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/, Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category, Available to download in PNG, PDF, XLS format, Breakdown of CO2 emissions in France 2021, by sector, E-commerce environmental impact worldwide 2019-2030, by type, Emissions from last mile delivery of non-food online purchases in Europe 2019, Ranking of 100 e-commerce websites, according to their carbon impact in France 2020, Share of consumers trying to avoid buying new goods worldwide 2022, Consumer attitudes towards sustainable brands and retailers in France 2022, Main reasons to buy secondhand items online in France 2022, Implementation of sustainability criteria in e-commerce businesses in France 2022, Consumer perception of sustainability improvements made in e-commerce in France 2022, Opinion on importance for companies to reduce greenhouse gas emissions France 2021, Main factors favoring Green Friday over Black Friday in France 2019-2021, Preferred delivery time among online shoppers in France 2021, Returns of online purchases by category in France 2022, Online shoppers mindful of the environmental impact of delivery 2022, by country, Willingness to pay for carbon neutral delivery in France 2021, by generation, Implementation of sustainable delivery by online retailers in France 2022, Main activities of cargo bike delivery companies in France 2021, Leading e-commerce and shopping websites in France 2022, based on visit share, Website traffic to selected recommerce marketplaces in France 2022, Bounce rate of selected web shops for secondhand purchases in France 2022, Revenue of Leboncoin.fr in France 2015-2021, Marketplace revenue of Cdiscount.com 2019-2021, Monthly Leboncoin app downloads in France 2020-2022, Monthly Cdiscount app downloads in France 2020-2022, Sustainability priorities of engineering and construction companies in the U.S. 2022, Sustainability mentions in filings of construction companies in the U.S. 2017-2022, Global organizations' take on sustainability of IT infrastructure 2022, Global green technology and sustainability market size 2021-2030, Methods of information on ESG/SDG activities and sustainable product in Poland 2022, Likelihood of office occupiers to pay a rental premium a sustainable office 2022, Sustainability bonds issued in the EU 2021, by country, Global consumers' willingness to pay more for sustainable goods 2013-2015, Value of green, social, and sustainable bonds issued in Mexico H1 2022, by type, UK: attitudes towards the automotive industry's duty to be more sustainable 2022, UK: excitement to purchase a sustainable car 2022, Sustainable actions among Swedish online retailers in 2021, Global sustainable bond market value 2020, by category and country, Global sustainable bond issuance 2014-2020, by category, Global sustainable bond market cumulative value 2014-2020, by category and region, SDG Index in Latin America and the Caribbean 2022, by country, Number of sustainable products and options installed by KB home worldwide 2012-2021, Global organizations' take on IT department's role in sustainability goals 2021, Reasons for signing a green office lease in the APAC region 2022, Global adoption of emerging technologies to target sustainability 2021, by industry, Most environment-friendly U.S. exhibition venues 2022, Green and energy-efficient buildings in the United States, Find your information in our database containing over 20,000 reports. Even toys can get the climate-friendly treatment. As soon as this statistic is updated, you will immediately be notified via e-mail. 9. Since then, the trend has only increased: a 2015 Nielsen poll showed that 66% of global consumers are willing to pay more for environmentally sustainable products. Consumers also see themselves as the agents of change, implying that the call to action for companies to adapt has never been more urgent. CSR can build brand loyalty, raise awareness, and strengthen reputations, or it can have the opposite effect. The future for CPG, and increasingly for other categories such as apparel, is sustainable. Simple economies of scale also impact on price. Sixty-six percent of consumers say they are willing to pay more for sustainable brandsup from 55% in 2014 and 50% in 2013. You need a Statista Account for unlimited access. In 2014, 65% of total sales of consumer goods measured globally were generated by brands whose marketing conveyed commitment to social and/or environmental value. Studies show that people are geared towards using sustainable products more than others. Brands can bring their CSR efforts to life through authentic storytelling. This figure is even higher for millennials (73%) and Generation Z (72%). A Global Corporate Sustainability Report published by Nielsen indicates that, "globally, 66 percent of consumers are willing to spend more on a product if it comes from a sustainable brand. The top attributes that more than one-third of consumers were willing to pay more for included: cruelty free (31%), farm raised (32%), organic farming (33%) and environmentally friendly (33.5%). Consumers care about sustainabilityand back it up with their wallets, Five Ws and one H to mastering your category, Consumer Outlook 2023: The unsettled state of global consumers, Communication led by service advisors helps drive satisfaction with aftersales process in India, Do not sell or share my personal information. statistic alerts) please log in with your personal account. People want to feel that whatever they are buying aligns with their personal values. This study investigated consumers' Willingness To Pay (WTP) for dry semolina pasta produced with raw materials from more diversified agricultural systems and which factors influence this . The survey reports that 58% of Europeans consider climate impact . Seventh Generation, Sundial Brands, and Pukka Herbs. TV ads highlighting a companys commitment to positive social and/or environmental impact are influential in the path to purchase for 34% of global respondents. Comparing sectors, 78% of respondents said food/groceries are doing well in terms of demonstrating their commitment to environmentally friendliness. As consumers become increasingly aware of what they put in and on their bodies, theyre also interested in buyingand sometimes paying morefor products that simultaneously help the environment. Companies should be aware that consumers are increasingly voting with their dollars against unsustainable brands. Get full access to all features within our Business Solutions. Consumersparticularly Millennialsincreasingly say they want brands that embrace purpose and sustainability. In more than 90% of consumer packaged goods categories, sustainability-marketed products grew faster than their conventional counterparts. Consumer concern about the environment does not readily translate into the purchase of environmentally friendly products. This sum will continue to grow exponentially as more Millennials reach peak buying power. 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