The move toward sustainable practices, products and materials is no longer on the horizon but ever-present. This is especially true as more consumers factor brands’ social responsibility initiatives in purchase decisions. In fact, global demand for sustainable packaging is expected to reach approximately $400 million by 2024 with a compound annual growth rate (CAGR) slightly above 7%[1]. As such, some brands have begun to integrate environmentally sound practices, with other companies leading the pack. Regardless of where companies stand on the sustainability spectrum, there is always room for growth—and certainly the demand to support it.
As consumer awareness of sustainable brand practices grows, there are some considerations that companies must make to catch up or stay ahead of the curve.