It is time to make predictions for 2019, therefore, Mintel published the understanding of one key determinant of the global trend for the industry in the coming year – more than non-waste production (the”Sub-Zero Waste”, the literal translation of “waste below zero”).
This is the next level in sustainable development, and now it is expected that the brands will exceed all expectations, adhering to environmentally friendly and ethical standards in the supply chain. More than a waste-free production is an extremely ambitious goal, as many companies are still working hard to reduce waste to zero or above other similar objectives, to reduce waste.
Sharon quôc, senior analyst, innovation and Analytics, Mintel Beauty and Personal Care, explains that the trend is “waste below zero” is not just a trend; it is a movement in the direction of the stunning new archetype for the beauty industry and personal care products. Some companies are already discussing a complete rejection of the package. In her opinion, whether the reduction or elimination of waste generally if the brands will not change their approach now, they will be in demand. Companies that put the current profit in the first place, without making the necessary investment in zero waste and sustainability, will not in the future.
Over the next five years the focus on sustainable development will reach new heights throughout the world, since consumers are environmentally conscious, looking for ways to reduce waste in all aspects of their lives, including cosmetics and skin care. Even Mintel predicts that the brands that intentionally make products with a limited shelf life or promote excessive consumption, are at risk to get a negative reaction from consumers.
“Consumers will demand that brands greater environmental stability and responsibility for their actions, say analysts Mintel. Manufacturers, companies and brands have to go to a completely new paradigm in approaching zero waste and sustainable development and focusing on every aspect of the supply chain”.
Independent brands are more nimble, so can respond faster than larger, more established companies. In addition, some of them initially included sustainable development in its development strategy. “We see that some of the independent brands prevail over sustainable beauty, because they built their business practices on ethics and environmentally friendly methods, confirms MS quôc. More big brands should adopt the new methods to catch up to these smaller and more nimble competitors”.