New industry report shows demand for sustainable pet products has increased faster than predicted and most companies aren’t prepared.
The World Pet Association (WPA) and the Pet Sustainability Coalition (PSC) have released the first ever industry report that focuses specifically on sustainability in the pet sector, highlighting rapidly advancing business opportunities for environmentally and socially friendly pet product companies. This new report, analyzing over 225 responses from pet industry professionals, reveals a dramatic increase in demand for sustainable products, explores where companies are encountering road blocks to successful sustainability programs, and what tools and resources are available within the industry.
Below find a quick summary of the data and you can download the full complementary report by clicking here.
Expectations are increasing, and fast
The data shows a dramatic increase in pressure on businesses to expand their responsibility strictly from shareholder value to now include demonstrating responsible treatment of communities and environments where they do business. The expansion in business accountability means that brands are held accountable not just for their own direct business practices, but also the practices of their tier 1, tier 2, and tier 3 suppliers.
Current sustainability programs are ineffective
Only 23% of pet industry professionals rank their own sustainability program as effective and 26% report that they have no sustainability program at all.
Support is needed to create success
Not surprisingly, this increase in accountability for businesses is fueling a need for more education to inform the industry about what is expected of them and where their current performance is, tools to ease implementation, and collaborative opportunities particularly for small businesses that need more leverage to drive systematic improvement in areas that are too large for one company to change on their own.
PSC is successfully serving businesses
Headed into its 6th year as an organization, the Pet Sustainability Coalition is making a difference. Coalition member companies show an impressive skew in positive data reporting much higher access to education and tools, and a higher interest in collaborating which will be needed for the industry to address bigger sustainability issues including agricultural impacts as well as equitable labor practices, and the ability to better trace materials and ingredients from extraction to production, retail and end of life.
PSC was founded in 2013 with the mission to advance business through environmental and social business practices. PSC partners with pet businesses to implement profit driving sustainable business solutions that deliver bottom line savings and top line growth. To get regular reports like these or keep track of sustainability trends in the industry follow PSC on LinkedIn and Facebook