Trivium Packaging | The effect of tough economic times

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Sustainable packaging beats budgets

We found that sustainability persists through tough economic times.

Consumers around the world have been hit hard by inflation, which has severely impacted how they spend and save across all categories. Exponentially rising prices often lead to difficult decisions, such as trading up and trading down for specific products. From the start of 2023, consumer prices are expected to stabilize across all the regions surveyed, increasing consumers' spending capacity, and reducing the influence of value or price on the products they choose.

% year over year growth of consumer prices regionally

Source:Index of Consumer Prices: Euromonitor International from national statistics/Eurostat/UN/OECD 2020-2024

While higher prices affected consumer spending to some degree, 70% consumers chose not to swap sustainably packed products for alternatives. As sustainable habits have become a normal part of many consumers’ lives and dictate their product choices, they continue to favour these types of goods and services, even during economic struggles.

New finding

South America

Europe

North America

A significant percentage of consumers from each region are still focused on sustainable packaging solutions in light of inflation.

Consumers are still willing to pay more

Despite price concerns and pressures from inflation, the value of sustainable packaging remains high, with consumers often willing to pay more for products with these benefits.

82%

of consumers would be willing to pay more for sustainable packaging.*

Despite price concerns and pressures from inflation, the value of sustainable packaging remains high, with consumers often willing to pay more for products with these benefits.

82%

of consumers would be willing to pay more for sustainable packaging.*

29%

are willing to pay over 10% more for sustainable packaging.*

Younger consumers between the ages of 18 and 24 are the most willing to pay more for sustainable packaging, demonstrating their commitment to these types of products and acceptance of higher prices. In fact, on average 88% of consumers younger than 45 said they are willing to pay more, a significantly higher percentage than among consumers above this age (74%).

% of consumers willing to pay more for sustainable packaging, by age*

% of consumers willing to pay more for sustainable packaging, by income*

*In reference to the question: For a product that currently sells for $5 in a non-sustainable package, how much more would you pay for the product if it was sold in a sustainable package?

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The effect of tough economic times