Appetite for sustainable packaging in Asia wanes as inflation rises
About 58% of respondents said they are now more concerned about price comparison.
Inflation is causing a decrease in interest in sustainable packaging in Asia, according to research by GlobalData.
The surge in eco-friendly packaging, driven by consumer awareness and corporate commitments, has been hindered by rising prices since 2022.
Whilst the COVID-19 pandemic accelerated the adoption of sustainable packaging, higher prices have forced consumers to prioritise affordability over sustainability.
GlobalData found that sustainable packaging materials are generally more expensive than traditional options, leading to higher product prices as manufacturers pass on these costs to consumers.
The research indicates a shift in consumer behaviour, with nearly a third of respondents (31%) preferring recyclable packaging, a majority (58%) focusing on price comparison, and almost half (46%) switching brands to combat rising living costs.
Reddy Bokkala noted that whilst Asian consumers are enthusiastic about sustainable packaging, they are pragmatic in their purchasing decisions due to concerns about inflation and economic uncertainty.
Balancing environmental responsibility with commercial viability is a challenge for packaging companies as they navigate the relationship between sustainability, affordability, and consumer preferences.
The future of sustainable packaging initiatives in Asia remains uncertain due to inflationary pressures and economic challenges.
