Top 5 Trends for 2024: Navigating the increasing demand for sustainability

In an era marked by unprecedented environmental challenges, businesses across industries are combating a growing imperative to embrace sustainability. The impacts of climate change becoming increasingly apparent have highlighted the importance of reducing our environmental footprint. In fact, Loftware’s annual ‘Top 5 Trends in Labeling & Packaging Artwork’ report, which draws on insights from hundreds of labeling, packaging, and supply chain professionals across industries in 55 countries, revealed that 77% of organizations reported that stricter regulations and compliance requirements are pushing the business to adopt sustainability practices.  

To manage this shift in prioritization, businesses must embrace technologies such as the Cloud to not only make their operations more agile but also enable them to meet their sustainability goals. 

Stricter regulations and compliance requirements 

One of the driving forces behind the push towards sustainability is the tightening grip of regulations and compliance requirements. Governments across the global supply chain are acknowledging the urgency of addressing climate change and environmental degradation, prompting them to enact stricter regulations. Some examples include the EU Digital Product Passport, carbon labeling, the EU Ecolabel, and Fairtrade certification. Cloud-based labeling solutions can help to streamline compliance by enabling automation and integration. Creating accurate labels to meet regulatory requirements reduces the risk of fines and penalties. Integrating labeling directly with data helps ensure consistency and precision. In addition, the ability to perform real-time checks means these technologies can instantly flag any non-compliant elements or errors in labels.  

Consumers demand sustainable products and practices 

Companies have also needed to increase their sustainability initiatives due to heightened consumer pressure. An increasing number of consumers are driving a shift towards higher ethical standards and greater transparency. According to those surveyed by Loftware, 82% stated preferences for sustainable products continue to drive the adoption of their sustainability initiatives in the supply chain. Cloud technologies help to meet these demands by improving supply chain visibility and allowing companies to track their products across the entire manufacturing process. This ensures that products are made, shipped, and delivered to the correct destination, eliminating errors, and reducing unnecessary waste. As the Loftware Trends report suggests, companies that can transparently communicate their sustainability initiatives and achievements to consumers have a competitive advantage in the marketplace, and Cloud technologies are an innovative solution to support this demand.   

Sustainable operations result in cost-cutting measures 

In today’s dynamic business landscape, many companies find themselves struggling with escalating cost pressures. Investing in energy-efficient technologies, optimizing supply chains, and embracing eco-friendly practices can lead to significant cuts in cost to help weather this storm. Cloud-based solutions are designed to optimize resource utilization by creating energy efficiency in data centers, minimizing transportation costs, and eliminating waste from pre-printed label stock. By hosting processes such as labeling in the Cloud, companies can reduce their carbon footprint resulting in lower utility bills and reduced impact on the environment, while aligning with their sustainability goals.  

In conclusion, the undeniable reality is that businesses are facing growing pressure to meet sustainability demands. As organizations navigate this, those that proactively embrace sustainability as a core business principle and employ technologies such as cloud technologies in the supply chain will not only comply with regulations and reduce waste but will also thrive in this competitive business landscape.  

For more information about Loftware’s Top 5 Trends 2024, download our report for free. Additionally, you can watch a recording of the ‘2024 Top 5 Trends in Labeling & Packaging Artwork’ webinar here.