Eco-certification becomes more cost-effective
Implications - For many entrepreneurs and small businesses attempting to verify their claims on sustainability, one significant barrier to entry has been the high cost of eco-certification. Emerging modes of certification, either supported by government organizations or private entities, work to break down an often elitist system that inadvertently lends favor to those with the financial backing to earn eco-accreditation.
Workshop Question - What systems currently exist within your industry that prevents smaller players from throwing their hat in the ring?
Trend Themes
1. Affordable Eco-certification - Emerging modes of certification, either supported by government organizations or private entities, work to break down the high cost of eco-certification.
2. Sustainability in Luxury Goods - The market for high-end luxury goods is increasing, but so is the demand for cost-effective alternatives, which is seeing new cost-effective product lines.
3. Bio-based Material Certification - Products with bio-based materials are becoming increasingly popular due to eco-friendliness, which is seeing increased bio-based product certification through government organizations.
Industry Implications
1. Eco-certification Industry - This increasing trend towards affordable and accessible certification highlights opportunities for businesses operating in certification technology and waste management.
2. Luxury Bedding Industry - Low-cost alternatives to luxury products is an emerging trend, which creates opportunities for manufacturers of high quality but cost-effective bedding products.
3. Bio-based Materials Industry - Increasing demand for environmentally-friendly products drives innovation and certification in bio-based materials, creating an opportunity for businesses in sustainable materials and green technology.
