Resources scarce for consumer packaged goods companies
A recent survey from Tetra Pak indicates professionals in the packaging industry know natural resources are scarce, but fail to understand the impact.
As sustainability becomes a mantra for companies around the globe, packaging professionals within the consumer packaged goods (CPG) industry say they are aware of the growing scarcity of natural resources. However, they lack an understanding of how this will impact business, according to a recent study by Tetra Pak US.
To compile the survey, Tetra Pak sought input from more than 120 sales, marketing , R&D, purchasing and other professionals within the consumer packaged goods industry to “explore industry perceptions around company resource management practices, especially in light of diminishing, finite natural resources combined with population growth and increased consumer demand for packaged goods.”
Among the findings, 41 percent of respondents reported they are “very aware” of the impact of resource scarcity on business.
“The results of our survey suggest more must be done to educate and increase attention on the impacts of natural resource scarcity,” says Brian Kennell, president and CEO, Tetra Pak US. “This is a very real and significant issue for the packaging industry and beyond. Greater knowledge of the potential risks and deeper insights around solutions can spur companies to adopt risk-mitigation strategies and change their practices.”
Respondents are reportedly uncertain if their companies are implementing the best practices or doing the right things. Overall, only 18 percent are satisfied with their company’s resource management practices, and 22 percent say their company has a good understanding of what actions are needed to become a leader in the industry.
The survey indicated the top three impacts to companies include greater price volatility around supply/raw materials; long-term shortage of supply resources; and decreased ability to manage costs.
According to the respondents, the top reasons for using renewable materials include:
• Sustainable resource management will contribute to growth.
• Using renewable materials allows the company to secure long-term supply.
• The demand for renewable packaging is expected to increase.
• Using renewable resources can help mitigate climate change.
More on this study can be found here.