Deloitte’s 2022 Consumer Products Outlook found that 54% of CPG executives believe consumer sustainability will be the most critical area for consumer product innovation in 2022. In a follow-up survey of those executives, over 70% said their companies are likely to make significant investments in sustainability innovation this year. Top priorities for these included sustainable packaging (70%), followed bu sustainably sourced new product offeerings (71%) as the top priorities.
The innovation and technology for sustainable packaging and a circular economy exist. Brand owners are the key to delivering the stated need to consumers while establishing a competitive advantage.