Why Product Packaging is the Next Frontier of Corporate Sustainability

Every year in the United States, 63 million tons of food waste is sent to landfills, and the cost of growing, processing, transporting, and disposing of that food is approximately $218 billion. Meanwhile, according to a recent study from McKinsey, the majority of the world’s plastic waste ends up in landfills (40%) or is incinerated (25%), meaning those materials are lost forever as a resource. Taken together, these findings underscore the urgent need for more sustainable packaging for the foods and beverages traveling across the world’s supply chains. Introducing more sustainable food packaging would not only benefit the environment but would also help organizations make progress on their corporate sustainability goals – which consumers are increasingly considering when deciding whether to patronize a business. According to Boston Consulting Group, 70% of consumers say they are willing to pay a 5% price premium for products produced by more sustainable means.