In 2024, eco-friendly and sustainable eco-brands are rapidly emerging in China. This trend is reflected not only in the increased consumer demand for eco-friendly products, but also in the acceptance and promotion of sustainable consumption concepts by the younger generation.
The environmental protection industry is experiencing rapid development in China
According to the 2024 Panorama of China's Environmental Protection Industry, the environmental protection industry not only includes traditional environmental pollution control and waste disposal, but also extends to clean technology and ecological environment construction. The upstream and downstream of the environmental protection industry involves many industries, including raw material supply, equipment manufacturing, engineering services and other links. At present, the market size of China's environmental protection industry has exceeded 2.3 trillion yuan, and it is expected to reach 4 trillion yuan by 2029. This shows that the environmental protection industry is becoming a new driving force for economic growth.
According to the 2022 Low Carbon Society Insight Report, the younger generation is more concerned about environmental and ecological issues and is willing to pay for environmental protection. For example, more and more young people are choosing to buy second-hand goods, products that use recycled and renewable materials, and are showing a high interest in energy-efficient appliances and low-carbon and environmentally friendly modes of travel. This trend is known as "circular youth" and reflects the importance that young consumers place on environmental protection and sustainable consumption.
The 2021 Global Buying Green Report, published by Trivium Packaging in partnership with the Boston Consulting Group, surveyed more than 15,000 volunteers in Europe, North and South America about their sustainable packaging-related behaviors, including willingness to pay more for eco-friendly packaging and perceptions of different packaging materials.
According to the survey data, consumer demand for sustainable packaging continues to grow, and the vast majority of younger generations are willing to pay more for packaging that they consider environmentally friendly, which is undoubtedly a huge business opportunity.
Research shows that the pursuit of sustainable living among young consumers is steadily rising.
83% of people aged 44 and under are willing to pay more for sustainable packaging.
The study also shows that younger consumers are more likely than older generations to pay for sustainable packaging, with income brackets or millennials and Gen Z ("Gen Z", a popular term in the US and Europe that refers to people born between the mid-90s and before 2010, the legendary post-95s). ) was not significant.
The main findings conclude that despite the significant global impact of COVID-19, the overall consumer demand for sustainable packaging remains high: 67% of consumers agree that they are environmentally conscious, which is in line with last year's report.
Michael Mapes, CEO of Trivium Packaging, said: "No event in recent years has had such a big impact on consumer behaviour as the pandemic, but the fact that the majority of consumers have not deprioritized sustainability in the face of the pandemic is a true testament to the committed sustainability movement led by young consumers. ”
Consumers across all regions agree that plastic is the least sustainable packaging material on the market, in line with Trivium's 2020 report and the results of a broader study of the negative impact of plastic packaging on the environment.
However, while consumer awareness of environmental impacts, pollution, and hazardous materials remains high about the planet, the study points to a worrying consumer misconception: a gap between the actual recyclability of materials and consumers' perceptions of them.
For example, 64% of metals are recycled, which is much higher than the 48% consumers believe, while glass, plastic and liquid
cartons are 32%, 14% and 26% respectively, all of which are much lower than the 65%, 41% and 65% consumers think.
According to a Forbes study, 60% of consumers buy products and services from companies that are socially or environmentally responsible. According to a recent survey by Trivium Packaging, a global leader in metal packaging, nearly three-quarters (74%) of consumers are willing to pay more for sustainable packaging.
O'Neal points out that the relationship between consumers and their favorite brands is constant, althoughOther fluctuations, this factor remains the same. "Consumers still care about brands and are increasingly buying with quality in mind. Packaging aesthetics and communicating brand values are increasingly influencing packaging. Fifty-seven percent of respondents said that packaging that conveys the core values and purpose of a brand or company affects product satisfaction, up 9% from the previous year. ”
In addition, 67% of those surveyed believe that recyclable packaging is important. These respondents also believe that packaging with recycled content is a priority in their purchasing decisions, with less than a third of consumers endorsing sustainable packaging.
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