TrendSights Analysis: Resource Scarcity - How consumers view the issue of depleting resources, and how brands can respond to this
Society has insufficient productive resources to satisfy all human wants and needs and this is giving rise to scarcity. Population growth and the growing consumption power of developing nations combine to exacerbate these pressures on vital resources including water, energy, and land.
Earth is unable to support current business-as-usual consumption and production levels; by 2030, pressures on resources will intensify, with the global population predicted to need 35%, 40%, and 50% more food, water, and energy, respectively. As people become increasingly aware of these issues, brands will face a growing number of consumers with green and sustainable preferences. Companies should look to create greener products to appeal to the growing number of sustainability-conscious consumers.
- There is increased consumer awareness of the consequences of population growth, mounting resource consumption, and depleting natural resources.
- Sustainability-conscious consumers are looking to buy more environmentally friendly products to embrace their environmental responsibility.
- Consumers from Latin America are the most concerned by emissions and the most likely to buy products that support environmental protection.
- Latin America is the most biodiverse region and consumers want to shift away from unsustainable products and towards greener alternatives
Develop offerings with natural, organic ingredients to capitalize on their wider environmental benefits and reduce chemical usage. Use biodegradable/recycled/recyclable packaging with eco-friendly ink (e.g. vegetable-based ink) to reduce emissions and landfill. Challenge category conventions and consumer perceptions by revolutionizing product formulations to promote sustainability and resourcefulness (e.g. using edible insects). Use lightweight, functional packaging to provide logistical benefits and reduce emissions.
The report TrendSights Analysis: Resource Scarcity explores what the trend is, why it is important, who is most influenced by it, and how brands and manufacturers can capitalize on it. The research concludes by identifying where the trend is heading next and how long it will last.
Companies mentioned in this report: Exo, Barilla, Na-Moy, Ito En, Nescafé, Buda Juice, Yaweco, Lashfood, Biferdil, If You Care E-Z, Tide, Nutri Science, DonQ Rums, Oneglass, Elements, Starbucks.Scope
Reasons to buy
- Three in four consumers globally believe that it is important to live an ethical or sustainable lifestyle in order to create a feeling of wellbeing or wellness.
- Almost two thirds of consumers globally are concerned about carbon emissions.
- 64% and 59% of consumers globally are concerned by water and food shortages, respectively.
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
- Executive Summary
- Content to help you learn from the past, understand the present, and see the future
- Combating resource depletion through more sustainable and creative product offerings
- Resource Scarcity
- Resource Scarcity is part of GlobalData's Sustainability & Ethics mega-trend
- Sustainability & Ethics is among the bottom three purchasing drivers across all FMCG categories
- Resource Scarcity is one of the 63 trends in GlobalData's TrendSights framework
- Resource Scarcity aligns with Sustainability & Ethics in GlobalData's TrendSights framework
- Combating resource depletion through more sustainable and resourceful product offerings
- Resource Scarcity is linked to many other TrendSights trends
- Which sectors is this trend most important to?
- Focus on: food
- Focus on: non-alcoholic drinks
- Focus on: personal care
- Focus on: alcohol
- Focus on: household care
- Focus on: pet care and tobacco
- The trend is shaped by a number of drivers and inhibitors
- Key indicators driving the Resource Scarcity trend
- There may be positive correlation between biodiversity concentration and environmental concern
- Latin American consumers are most concerned about their environmental impact
- Examples we like: food
- Examples we like: non-alcoholic drinks
- Examples we like: personal care
- Examples we like: household care and pet care
- Examples we like: alcohol and tobacco
- Suggested innovation implications
- Growth prospects for the Resource Scarcity trend
- Future opportunities to align with the Resource Scarcity trend