Partner Article

Ethical goods market remains buoyant

Research from the Co-operative suggests the market for ethical goods and services has remained resilient throughout the economic downturn.

The annual Ethical Consumer Markets Report shows the value of ethical markets to have risen from £35.5bn to £47.2bn in the five years since the onset of recession.

Data from sectors including food, household goods, eco-travel and ethical finance were analysed as part of the report.

Sustainable fish was seen to be the biggest growth area, up 323%, and Fairtrade also performed will, up 176%.

In contrast, sales of organic goods have declined from a high of £1.9bn in 2008, to £1.5bn.

Barry Clavin, sustainability reporting manager at The Co-operative, said: “The report shows that intervention by enlightened businesses, together with regulatory intervention, is driving ethical sales growth.

“During the downturn we’ve seen some of the biggest ever Fairtrade conversions, be it in chocolate or sugar, and business is beginning to respond to the challenge to provide consumers with more sustainable products and services such as fish, palm oil and soya.

“Ethical consumers are still a vitally important agent of change; however, the actions of progressive business are now a significant contributor to sales growth.

“At the same time, let’s not lose sight of the fact that ethical sales remain a small proportion of total sales. Ultimately, over and above the efforts of responsible business and ethical consumers, sustainable solutions require a government committed to long term intervention.”

This was posted in Bdaily's Members' News section by Tom Keighley .