Multiple food companies introduced new sustainability pledges in early 2020 that seem to have taken a backseat as clients prioritize safety and cost, according to Food Business News.
The unfortunate reality is that a lot of people are "kind of putting [environmentalism] on the backburner," Kevin Ryan, the founder of consumer packaged goods and food service consultant Malachite Strategy and Research, said during a webinar.
The world can only "handle one big massive crisis" at a time, he said.
Some of the reasons that explain the drop in interest in keeping up with sustainability trends are related to the coronavirus, FBN quoted Ryan as saying.
People are worried about touching unnecessary items, especially reusable plastic bags. Some municipalities and cities have outright banned the use of reusable bags and are waiving fees they typically charge for a new plastic bag.
Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.
The era of sustainability is far from over, but it it appears to be on hold, Ryan said. It could make a big comeback with the help of "sharper" marketing and information sharing, he said.
Future marketing campaigns to reignite sustainability initiatives could include messages of environmental problems potentially causing a new global crisis, Ryan said.
Related Links:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
