Megatrends: Sustainable Living - Impact on Consumer Goods and Service Categories

Delivery

This report comes in PPT.

Key Findings

Consumers expect affordable sustainability to go mainstream

In today’s economy, rising living costs curb spending, but consumers persist in seeking to combat climate change, despite high inflation. Sustainable practices, driven by budget constraints, are a global priority. Businesses must prioritise affordable sustainable solutions to stay competitive in this cost-conscious landscape.

Growing interest in cost-effective products with natural and safer ingredients

Amidst growing consumer interest in healthy eating and clean beauty, demand for natural and safer ingredients has surged in food and beverages, and beauty and personal care. With heightened scrutiny of product claims, consumers now seek ingredient transparency at accessible prices – a goal private label brands are keenly prioritising.

Apparel and personal accessories competitors rush to embrace circularity

With inflation being high, the fashion industry is fervently embracing sustainability. Opting for repair, resale, recycling and rentals paves the way for a budget-friendly, eco-conscious approach. Emphasis on durability, repairability and fair labour practices, mandated worldwide, propels circular models, enabling fashion players to tap into a burgeoning secondary market.

Sustainable practices reduce costs and food waste in consumer foodservice

Amid rising ingredient and labour costs, due to inflation and environmental challenges, foodservice businesses are embracing sustainability. They are streamlining operations, reducing waste, adapting menus to local ingredients and cutting expenses, along with prioritising sustainable supply chains, eco-friendly restaurant designs and sustainable packaging.

Sustainable living’s popularity will rise, boosted by developed economies

The focus on sustainability is intensifying. Consumers seek transparency and accountability. To thrive, companies must integrate sustainability into their core operations, moving away from premium pricing. Collaboration and circular solutions are key to making sustainability accessible and driving adoption, catering to consumer and regulatory demands.