How big is your carbon footprint? Defined as the total amount of greenhouse gases produced by human activity, carbon footprint applies to everyone because many of our daily actions (driving a car, watching television, and boiling a pot of water) increase our carbon footprints.
With all of the different ways we inflate our carbon footprint, one action that can easily reduce it may be sitting right in our hands with consumable products. Packaging materials, such as plastic bottles, cardboard boxes, and aluminum cans, are items that we interact with on a daily basis. Between shipments and products at our local markets, there are a lot of packaging materials that go around only to, ultimately, be thrown away once received or purchased.
A simple solution to all of this waste is eco-friendly packaging. Using fewer materials and a sustainable method of production and disposal, eco-friendly packaging aims to not only preserve the environment but also assist companies with saving resources while generating less waste. Here are some of the other advantages of eco-friendly packaging:
1 – Decrease Your Carbon Footprint
A product’s lifecycle goes through many phases (extraction of raw materials, production, transportation, and usage), with each phase releasing a different amount of carbon. Eco-friendly packaging applies a variety of methods in each phase to reduce carbon emissions.
Once you implement sustainable materials and processes, the negative impact your business has on the environment will begin to reduce instantly.
2 – Improve Overall Brand Image
Adopting eco-friendly packaging allows your business to enter new markets and expand your audience. In 2016, a Nielsen survey revealed that millennials are willing to pay more for sustainable goods. With this new focus on sustainability, your business can brand itself as environmentally-conscious, driving not only higher customer engagement but also bigger sales.
3 – Reduce the Use of Resources
When you’re redesigning your processes to be more sustainable, you will realize how much is being wasted. Eco-friendly packaging allows business owners to pinpoint areas of high waste consumption and resolve them, whether it is reducing solid waste, water usage, or electricity.
4 – Save Money in the Long Run
As you reduce the amount of resources your business consumes, you will save money. Some material options for sustainable packaging are lightweight and have the ability to take up less space, allowing businesses to save on shipping costs. Other ways to save money may require you to be creative, but a quick solution may be the materials you provide your customer with for returns. Instead of having them use more materials to send back, provide them with a return address and encourage them to reuse the same box.
The Market Goes Green
In 2016, the global green packaging market was estimated at $152.2B and is expected to hit $237.8B by 2024, according to Grand View Research Inc. This same research also estimates that North America will make up $70.4B of the market by 2024. With a CAGR of 5.7%, the global market is getting greener in value by the day. This sizeable growth is due in part from growing consumer awareness and strict government regulations that are protecting the environment.
Food and beverage, personal care, and healthcare are the three largest application areas within eco-friendly packaging, with food and beverage accounting for 58.6% of the market in 2015. In addition, the market can be segmented into packaging types, which include recycled content, reusable, and degradable. In 2015, the recycled content segment made up 57.5% of the global market, attributing most of its growth to the food and beverage sector.
As the issue of rising global temperatures continues, the need for sustainable packaging also rises. This worldwide need is how eco-friendly packaging landed on our 6 Customer Demands Transforming Contract Manufacturing in 2019. Between all of its advantages, eco-friendly packaging allows your company to reduce costs and increase sales. It may not be able to happen overnight, but the process should not deter you from getting your sustainability plan started.