The share of consumers interested in more sustainably produced consumer packaged goods has gradually increased in recent years. When making choices oriented towards sustainability, your company can also find ways to increase profits. Here are eight ways to unite the goals of sustainability and profitability in 2024.
Sustainable Packaging Solutions
CPG brands can promote sustainability at various points across product life cycles. Recyclable packaging is one of the most impactful ways to prioritize sustainability. Offering products to customers in Mylar bag packaging with a resin code for store drop-off programs can be a cost-effective, durable and sustainable solution for your company.
Attracting Green Customers
Market studies in 2023 showed that up to 70% of consumers consider sustainability when selecting products. Packaging materials and designs are visible to consumers on store shelves and product pages in online marketplaces. Clearly indicating your company’s commitment to sustainability on product packaging can increase trust and lead to repeat purchases.
Assessing Supplier Practices
As a stakeholder of a CPG company, you should evaluate the sustainability and profitability of every stage in the product life cycle. These factors extend to ingredients sourced from suppliers and the carbon footprint of transportation as well as the production methods and packaging materials that you choose on behalf of your company.
Tracking Resource Usage
Resources used in production and manufacturing also determine how sustainable and profitable your company will be year over year. You can implement systems to track the utilization of energy and water to conserve these resources and increase operational profit margins. Be sure to account for outsourced factors, such as the reduction in greenhouse gasses through digital stand up pouch printing compared to conventional package printing.
More Efficient Distribution
The approach that your company takes to distribution and logistics can also affect profits and sustainability. From choosing low-emissions distribution solutions and packaging products in flexible films that are compact and lightweight, there are several ways to keep these priorities top of mind at the distribution stage.
Expanding Brand Reach
By prioritizing sustainability, your products may qualify for marketplaces and programs that share this goal. Consider expanding the reach of your CPG brand through listings in ecommerce stores that focus on sustainability or participation in climate pledge programs. A connected flexible packaging company can identify ways to include Quick Response codes or other smart features on packaging to help customers learn more about the environmental, social and governance practices of your company.
Digital Package Printing
Digital package printing can play a key part in making packaging more sustainable and lowering the cost of bringing products to market. HP Indigo 20000 presses consume less energy and have lower emissions than conventional packaging printers. These printers also use compostable polymer-based inks that are free of hazardous air pollutants.
The best flexible packaging provider can offer your company options for sourcing sustainable packaging materials, including post-consumer recycled or recyclable flexible films, and provide digital package printing services. Working with the right packaging partner can move your CPG company closer to reaching any sustainability and profitability goals.
