It seems more consumers are willing to spend an extra buck or two to sweep away their environmental guilt.
In the cleaning market, sales for more environment-friendly and sustainable green products surge last year, according to research firms Packaged Facts and Information Resources Inc. (IRI)
Packaged Facts said the US household cleaning products market bounced back last year with sales of $7.3bn. The market’s value is expected to reach $8.1bn, at a steady rate of 2%/year by 2012.
“The hot spot for accelerated growth and highly profitable sales is in higher-end, eco-friendly products,” said Packaged Facts’ Cathy Minkler. “Half of Americans between the age of 18 and 29 say they are willing to spend more for products labeled as organic, environmentally friendly or fair trade.”
IRI reported a 66% increase in US green laundry detergent products sales last year compared to the overall detergent category’s flat sales. Laundry detergents marketed as biodegradable, non-toxic and plant-based account for 2% of the total US detergent market.
“The study highlights replacement of chemical-based items with eco-friendly products as an emerging sustainability category among non-food items,” said IRI chief marketing officer Andrew Salzman.
Now we know why chemical firms are also expanding their cleaning ingredients portfolio with more plant-based raw materials.