Retailers eye using recycled plastic, sustainable materials in products
Some companies in the personal care sector are offering re-fillable options
Companies are targeting to reduce plastic use by redesigning their products to include more recycled plastics and alternative sustainable materials, according to Fitch Solutions.
“The sustainability spotlight will shift to focus on the amount of plastic utilised in consumer products,” the report read, adding that some have committed to reduction pledge timelines.
Fitch said toy and some clothing manufacturers have pledged to aid in reducing the use of plastic in their products. It cited Japan-based Bandai which recycles the shells of its capsule toys to make new shells. This move is being practised by the company’s factory in the Philippines.
In the personal care segment, some are using new material substitutes for razors and toothbrushes to decrease plastic use, aside from moving toward achieving their plastic packaging reduction pledges.
More personal care providers are also leaning into re-fillable options now, aside from using new materials for packaging such as cardboard and bamboo for their products.
However, Fitch Solutions flagged that there are risks to this as phasing out plastic may lead to higher price points due to the extra cost related to research and development. But in the long-term, refillable options may lower the costs.
“They will pay for a container once and so on subsequent shopping trips will be purely paying for the product. The onus will be on the brands to ensure that consumers can see the benefits of living a life with less plastic, by making cost savings via the refillable route,” it said.