‘Sustainability, the new product niche’

Sat Jun 14 2014, 15:41 hrs
Responsible consumption’ (RC) is a niche that accounts for at least 15 % of all grocery sales, which amounts to a $400 billion global market. (Image credit: Thinkstock)
Responsible consumption’ (RC) is a niche that accounts for at least 15 % of all grocery sales, which amounts to a $400 billion global market. (Image credit: Thinkstock)
In recent years, RC products have accounted for two-thirds of total growth in an otherwise stagnant grocery sector, according to research by the Boston Consulting Group. (Image credit: Thinkstock)
In recent years, RC products have accounted for two-thirds of total growth in an otherwise stagnant grocery sector, according to research by the Boston Consulting Group. (Image credit: Thinkstock)
Clearly, what began as a movement in the ‘70s is now a thriving industry since quality has improved and there is also greater awareness about the ill-effects of chemicals and other synthetic inputs, which is why consumers are willing to pay a premium. (Image credit: Thinkstock)
Clearly, what began as a movement in the ‘70s is now a thriving industry since quality has improved and there is also greater awareness about the ill-effects of chemicals and other synthetic inputs, which is why consumers are willing to pay a premium. (Image credit: Thinkstock)
RC products address organic, natural, social, and fair-trade criteria, and have generated several product classes that have led to its growth. (Image credit: Thinkstock)
RC products address organic, natural, social, and fair-trade criteria, and have generated several product classes that have led to its growth. (Image credit: Thinkstock)
Conventional brands too have an opportunity to tap by addressing the increasingly sustainability-conscious consumer and leveraging their distribution channels to reach the market. (Image credit: Thinkstock)
Conventional brands too have an opportunity to tap by addressing the increasingly sustainability-conscious consumer and leveraging their distribution channels to reach the market. (Image credit: Thinkstock)
RC products command significant premium across categories. (Graph source: BGC Analysis)
RC products command significant premium across categories. (Graph source: BGC Analysis)
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