Report shows growing importance of sustainability in the food, beverage, & consumer products industry

According to the Grocery Manufacturers Association (GMA) and Pricewaterhouse Coopers (PwC) annual overview of the Consumer Packaged Goods (CPG) industry, companies now recognize the importance of sustainability measures to both margin growth and customer loyalty. Key points include reductions in packaging materials, streamlined transportation, and socially responsible outsourcing.

Sustainability reporting in the CPG industry now accounts for over 70% of non-financial reporting – a number likely to grow due to soaring consumer interest in environmental and health and wellness issues. 92% of US consumers polled agree that the US food and beverage industry must be more proactive in addressing environmental concerns. Additionally, the top ten new food and beverage products launched nationally in 2006-2007 were aimed at helping people achieve health and wellness without sacrificing taste.

As CPG companies realize that sustainability is no longer a cost to business – and in fact is more often a competitive advantage – consumers can expect both a wider variety of health and wellness-themed products, and more transparency in sustainability reporting.

See the entire report here.