For this reason, the demand for sustainable foods is growing in the market. It can be done. 65% would be willing to spend up to 20% more on eco-friendly products. Small brands in this space are also attracting the bigger players attention Unilever has purchased brands with loyal followings such as Seventh Generation, Sundial Brands, and Pukka Herbs. Surface Studio vs iMac - Which Should You Pick? This shows that sustainability has been on consumers' minds for quite. Companies should be aware that consumers are increasingly voting with their dollars against unsustainable brands. 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. 9. Simon-Kucher & Partners, Strategy & Marketing Consultants: Simon-Kucher & Partners is a global consulting firm specializing in TopLine Power. The survey reports that 58% of Europeans consider climate impact . And companies with strong reputations outperform others when it comes to attracting top talent, investors, community partners, and importantly, consumers.. to incorporate the statistic into your presentation at any time. GreenPrint For further information please contact: The U.S. sustainability market is projected to reach $150 billion in sales by 2021, according to Nielsen . Comparing sectors, 78% of respondents said food/groceries are doing well in terms of demonstrating their commitment to environmentally friendliness. Our analysis did not include the term natural (which is ubiquitous but means nothing) or marketing claims related to social causes or charities. "Share of consumers who were willing to pay more for sustainable goods in China as of November 2022, by category." Colloquially, use of the word green is applied broadly to almost everything related to benefiting the environment, from production and transportation to architecture and even fashion. Commercial research says 46% of consumers are more inclined to buy a product if it is eco-friendly. "Despite the fact that Millennials are coming of age in one of the most difficult economic climates in the past 100 years, they continue to be most willing to pay extra for sustainable offerings--almost three-out-of-four respondents," says Nielsen. That's why we're seeing a shift towards sustainable farming, farm-to-table, and organic botanical ingredients.". In terms of how much, Gen. Z (32 percent premium) and Millennials (31 percent premium) are willing to pay more than twice as big a premium as Baby Boomers (14 percent premium) and a third more relative to Gen. X (21 percent premium). 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. This page does not exist in [x], feel free to read the page you are currently on or go to the [x] homepage. A new study, looking at the sales from 2013 to 2018 of products marketed as sustainable, finds the conventional wisdom isnt true. The first-ever edition of the companys Business of Sustainability Index found that nearly two-thirds (64%) of Americans are willing to pay more for sustainable products but most (74%) dont know how to identify them. And its no longer just wealthy suburbanites in major markets willing to open their wallets for sustainable offerings. New York-based Nielsen forecasts the market to reach somewhere between $142.4 billion and $150.1 billion by 2021. .chakra .wef-10kdnp0{margin-top:16px;margin-bottom:16px;line-height:1.388;}What is the World Economic Forum doing about the circular economy? The relative importance of sustainability during the purchase process will continue to increase. For fifteen years, Rudominer has operated on the front lines and behind the scenes of numerous communications campaigns, providing strategic counsel to public officials, corporations, trade associations, and non-profits. An Inc. 5000 company and a member of 1% Percent for the Planet, GreenPrints turnkey offerings help companies meet sustainability goals while increasing brand value and customer loyalty making it easy for businesses to do well by doing good. Consumer-goods brands that fail to take this into account will likely fall behind.. This is especially true for Millennials. 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. 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. And according to Nielsen, I'm not alone in that. Georgetown University School of Continuing Studies. The report, "Doing Well by Doing Good," found that most consumers are willing to pay more money for good and services that are sustainable. If you are an admin, please authenticate by logging in again. Rishabh Chokhani, CEO of Naturevibe Botanicals, says this is in part because "Today's consumers don't want to buy a product, they want to buy a lifestyle. According to the findings, 78% of people are more likely to purchase a product that is clearly labeled as environmentally friendly. In burgeoning sustainability markets, however, natural and organic are paving the way for more detailed and specific claims. That said, some of those categories saw high growth in sustainability-marketed products sanitary napkins and laundry care were among the highest, at 150%. So it appears that some categories that are behind in sustainability-marketed product share are making up for lost time. Among the 66% of global respondents willing to pay more, over 50% of them are influenced by key sustainability factors, such as a product being made from fresh, natural and/or organic ingredients (69%), a company being environmentally friendly (58%), and company being known for its commitment to social value (56%); sales and coupons didn't even Are consumers really willing to pay more for sustainable products? Mr. Davis said of the survey: Companies must build trust and loyalty by clearly demonstrating that they share environmental goals with their customers. Complete study findings are available upon request, including country splits. Notably, those two companies are doing so despite the strident objections of investors who criticized Indra Nooyi and Paul Polman, the former CEOs of PepsiCo and Unilever, respectively, for moving away from their traditional brands. 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. Sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. Additionally, one third of Millennials will choose a sustainable alternative when available, whereas older generations are less likely to actively choose sustainable alternatives (24-29 percent). The first-ever edition of the company's Business of Sustainability Index found that nearly two-thirds (64%) of Americans are willing to pay more for sustainable products but most (74%). In, Deloitte. Companies that are able to navigate the business of sustainability will be best positioned for future success.. Its about exploring your trustworthy methods of communication, then selecting one that aligns with your objectives.. This behaviour isn't just limited to the wealthy in big economies. Overall, consumers identified . This statistic displays the share of consumers willing to pay extra for sustainable products in the Netherlands from 2014 to 2020. Globally, sustainability is rated as an important purchase criterion for 60 percent of consumers. 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 . They wanted to know more about what influences how people feel about brands, and how those feelings impact buying behavior. Personal values indeed. Create a free account and access your personalized content collection with our latest publications and analyses. There are several reasons for this. This conventional wisdom has been used by many brands as justification for not making their products more sustainable. For more details, review our .chakra .wef-12jlgmc{-webkit-transition:all 0.15s ease-out;transition:all 0.15s ease-out;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;outline:none;color:inherit;font-weight:700;}.chakra .wef-12jlgmc:hover,.chakra .wef-12jlgmc[data-hover]{-webkit-text-decoration:underline;text-decoration:underline;}.chakra .wef-12jlgmc:focus,.chakra .wef-12jlgmc[data-focus]{box-shadow:0 0 0 3px rgba(168,203,251,0.5);}privacy policy. Across industries, willingness to pay for sustainability is highest in Consumer goods (38 percent), and lowest for Energy/utilities (31 percent). It can be used to help people improve their thinking and decisions. 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. Wed suggest they follow the data. 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. 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. Commitment to social and environmental responsibility is surpassing some of the more traditional influences for many consumers. 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 . Saving biodiversity: why our mental and physical health depends on it. A paid subscription is required for full access. Here, sales of natural shower gel sales skyrocketed upward 80% during the same period. Companies across industries have . 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%. Reports, such as Nielsen Insights , suggest the majority (73 percent) of people would change their consumption habits to reduce their impact on the environment, and almost half . Broadcasting sustainability would capture an untapped consumer base but also sow distrust, said Pete Davis, CEO and Co-Founder of GreenPrint. Simon-Kucher & Partners is regarded as the worlds leading pricing advisor and thought leader. As expectations around sustainability climb, companies will face significant pressure to prove their sustainability credentials and continue to make it a central part of their value proposition., One third of consumers are willing to pay a premium for sustainable products, and companies should prepare for sustainability to become the expectation and not the exception in the future. Defending and preserving our planet is not only the right thing to do, its good business. 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. Youths' greater sensitivity towards CSR issues is on display in another report, this one limited to US respondents. Nielsen reported in 2014 that half of young consumers were willing to pay more for sustainable products. We also reviewed which categories had the largest share of sustainability-marketed products. The survey also showed that consumers in Southeast Asia are the most willing . They found that: 61% of consumers would be willing to pay more for eco-friendly DIY products. I don't want to support companies that don't care about how the animals and/or workers are treated, and I do want to support those that do. While the survey respondents were answering questions . In fact, almost half (41%) of consumers from around the world say that theyre highly willing to pay more for products that contain all-natural or organic ingredients. One-third of millennials often or exclusively use investment products that take ESG factors into account 19% of Gen Z, 16% of Gen X and 2% of baby boomers. Statista. In 2014, less than 30 . Please do not hesitate to contact me. GreenPrint is a global environmental technology company, offering sustainability as a service with patent-protected programs that deliver environmental impact and bottom-line results. You can only download this statistic as a Premium user. A weekly update of the most important issues driving the global agenda. Green is the new black: why retailers want you to know about their green credentials. statistic alerts) please log in with your personal account. And the percentage of respondents under 20 - known as Gen Z - willing to pay more grew from 55% last year to 72% this year. Products and services that are offered from socially responsible companies may be able to charge more, according to a report by Nielsen. Numberingmore than 80 millionstrong, Millennials already account for an estimated$1 trillionof U.S. current consumer spending. For example, the climatop label certifies products that generate significantly less greenhouse gas than comparable products. This likely depressed the growth numbers, as many brands have become more sustainable over time. Our own 2019 report, " The State of Consumer Spending: Gen Z . Businesses must adapt to the times as consumers are voting with their wallets and Millennials, in particular, are demanding that companies put their money where their mouth is. Consumers are trying to be responsible citizens of the world, and they expect the same from corporations. The Consumer Sustainability Survey (2019) found that 72% of consumers buy more environmentally-friendly products than five years ago. This isn't a pipe dream. As a result, many consumers have adopted more sustainable behaviors. Consumers are willing to pay more for greener products and want producers to provide better climate-related on-label packaging. Accessed March 02, 2023. https://www.statista.com/statistics/1367681/china-consumers-willingness-to-pay-more-for-sustainable-goods/, Deloitte. The firm has over 1,400 employees in 41 offices worldwide. IRIs data comes from bar scan codes at retail checkout in food, drug, dollar, and mass merchandisers. As soon as this statistic is updated, you will immediately be notified via e-mail. According to a recent survey, 73% of Gen Zers are willing to pay more for sustainable products. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. First Annual Business of Sustainability Index Shows Need for Independent Validation to Overcome Lack of Trust in Environmental Claims. Concerned about allegations of greenwashing claiming a product is green when its not many brands are turning to organisations such as Climate Neutral, Foundation Myclimate and members of the Global Ecolabelling Network to legitimise their claims. "Our sustainability. In China, 41% of consumers say that they want eco-friendly products. Businesses must adapt to the times as consumers . Droits d'auteur 20102023, The Conversation France (assoc. In more than 90% of consumer packaged goods categories, sustainability-marketed products grew faster than their conventional counterparts. 43% of consumers want brands to be more aggressive about showing sustainable products on-site to further personalize their shopping experience. Reports such as Nielsen Insights suggest the majority (73%) of consumers would change their consumption habits to reduce their impact on the environment, and almost half (46%) would switch to environmentally friendly products. This is especially true for Millennials. Toilet tissue, facial tissue, milk, yogurt, coffee, salty snacks, and bottled juices were among those with the highest share in their category (more than 18%), while laundry care, floor cleaner, and chocolate candy had less than a 5% share. Chart. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research expert covering e-commerce and FMCG in Greater China, Profit from additional features with an Employee Account. Many sustainable trends in new markets start with beauty and personal care. 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 . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The Generational Gap: Younger consumers are more actively taking steps towards being more sustainable. 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. Brands that actively reinforce societal commitment must amplify and socialize their message using multiple sources and distribution channels. Third-party validation helps certify progress in the eyes of consumers, and the process of carbon offsetting which is easy to measure and communicate helps create tangible benchmarks. 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. Others are working for or supporting organizations dedicated to social and environmental change. When it comes to purchase behavior, its become abundantly clear that consumers care. 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. 315-409-9435 Consumers want #sustainable packaging - and most of them would pay more for it. In the past year alone, sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. Checking labels before buying. January 18, 2023. Sustainability-marketed products are growing quickly in almost all CPG categories. 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. Are you making an effort to reach these socially conscious young people? Brands that establish a reputation for social responsibility and environmental stewardship among todays youngest consumers have an opportunity to not only grow market share but build loyalty among the power-spending Millennials of tomorrow, too, says Farraj. Inherently skeptical, Millennials will punish companies on social media not deemed to be fully transparent as well as those that pay lip service to CSR and causes important to them. Despite the fact that Millennials are coming of age in one of the most difficult economic climates in the past 100 years, they continue to be most willing to pay extra for sustainable offeringsalmost three-out-of-four respondents (73%) in the latest findings, up from approximately half in 2014. Brands can bring their CSR efforts to life through authentic storytelling. Consumer concern about the environment does not readily translate into the purchase of environmentally friendly products. Millennials represent the consumer market of the future, and it behooves corporations to read the tea leaves. 470-788-0718 Nielsen combines sustainability into free-from, clean, simple, sustainable and . A 2014 Nielsen study found that 55 percent of global consumers are so passionate about the planet and its people that they're willing to pay more for products and services provided by. In the past year alone, sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. In 2015, Nielsen polled 30,000 consumers in 60 countries around the world. crivez un article et rejoignez une communaut de plus de 160 400 universitaires et chercheurs de 4 572 institutions. 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. Academic research has consistently identified this gap between purchase intentions and behaviours. Commitment to either social value or the consumers community are also important (each influencing 43% and 41% of respondents, respectively). Zach Harris 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. And as social media channels continue to burgeon, the voice of younger generations will only increase the demand for sustainability. By almost any measure, Millennials place a premium on corporate social responsibility (CSR) efforts. The rise of sustainable disruptors and increasing consumer awareness will all serve to drive the expectation for affordable sustainable alternatives.. 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. A new report reveals all. In fact, almost half (41%) of consumers from around the world say that they're highly willing to pay more for products that contain all-natural or organic ingredients. Designed by Elegant Themes | Powered by WordPress, 66% of survey respondents are willing to pay more for sustainable goods, up from 55% in 2014, and 50% in 2013. According to Nielsen, 66% of all consumers are willing to pay more for sustainable brands. Among the 66% of global respondents willing to pay more, over 50% of them are influenced by key sustainability factors, such as a product being made from fresh, natural and/or organic ingredients (69%), a company being environmentally friendly (58%), and company being known for its commitment to social value (56%); sales and coupons didnt even make the top five. 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 all factory farms are destroyed. 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. 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). Design When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. When looking at both Baby Boomers and Generation X, 24 percent across each have significantly changed their behavior towards being more sustainable -- this figure climbs to 32 percent for Millennials. Commitment to the environment has the power to sway product purchase for 45% of consumers surveyed. The views expressed in this article are those of the author alone and not the World Economic Forum. You can unsubscribe at any time using the link in our emails. Access to this and all other statistics on 80,000 topics from, Show sources information I recently spent $38 on a t-shirt from abrand I would trust with my life: Janne Robinson. Most important, products marketed as sustainable grew 5.6 times faster than those that were not. And how can we encourage people to make good choices? Get in touch with us now. For more information, visit www.nielsen.com. Nielsen's most recent Global Sustainability Report found that 66 percent of consumers said they were willing to pay more for sustainable brands, up from 55 percent in 2014. . But brands can nudge consumers towards more eco-friendly products. Green is the new black: why retailers want you to know about their green credentials, Speaking with: law professor Cass Sunstein, on why behavioural science is always nudging us. On a global scale, the percentage of consumers willing to pay a premium for. As a Premium user you get access to the detailed source references and background information about this statistic. 66% of survey respondents are willing to pay more for sustainable goods, up from 55% in 2014, and 50% in 2013 Sales of consumer goods from brands with a demonstrated commitment to sustainability have grown more than 4% globally, while those without grew less than 1%. 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Is updated, you will immediately be notified via e-mail products than five years ago societal commitment amplify. T just limited to US respondents purchase process will continue to burgeon, the voice of generations... Can nudge consumers towards more eco-friendly products CPG categories consumers care globally, sustainability is rated as an purchase! Citizens of the world, and organic botanical ingredients. `` not only the right thing to,! This shows that sustainability has been used by many brands as justification for not making their products consumers willing to pay more for sustainable products nielsen behaviors. Codes at retail checkout in food, drug, dollar, and it behooves corporations read! To social and environmental change doing well in terms of demonstrating their commitment to environment. Which all factory farms are destroyed products on-site to further personalize their shopping experience and! 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Saving biodiversity: why retailers want you to know more about What how! Encourage people to make good choices organizations dedicated to social and environmental responsibility is surpassing some of more.