The recognition of the ingredients giant’s efforts towards sustainability suggests the company is making moves to tap into rising demand from beauty consumers globally for environmentally responsible product offerings.
Indeed, Euromonitor’s latest report, ‘Eco Worries: Global Green Behaviour and Market Impact’, reveals that the trend is on the rise thanks to its close link with the consumer enthusiasm for naturals and organic, itself driven by safety and wellbeing concerns.
Consumers want brands to go green
Euromonitor’s report notes that environmental concerns among beauty consumers go hand-in-hand with the demand for skin care and makeup that is not harsh and is non-toxic.
“The drive towards environmentally friendly products in beauty and personal care is largely led by the secondary desire for products that are gentle on the skin, boosting growth across the board in organic toiletries down to products which are loosely viewed as “natural”, such as plant-inspired products,” the report explains.
“This means that green positioned toiletries are in the mainstream and are visible at all price points, from premium brands to private labels.
“Many of the successful eco-positioned beauty brands are only secondarily viewed as green products and are primarily viewed as premium, clinical or pharmacy brands. Effectiveness is primary.”
Symrise’s success is the second time the company has been awarded gold for its CSR efforts, the company notes, with EcoVadis recognising the fragrance and flavouring manufacturer for being among the top 3% of companies it evaluates.
“The CSR rating by EcoVadis allows us to transparently present our sustainability achievements to current and new customers and thus to establish ourselves as preferred partners,” Dr. Helmut Frieden, Vice President Corporate Sustainability at Symrise, explained. “This method shines a light on all relevant sustainability criteria in a standardized and goal-oriented manner.
“On the one hand, it is encouraging recognition from outside the company for our efforts to become more sustainable. On the other hand, it is also important for the success of the company since strategically significant customers require a CSR rating of at least 65 points in order to do business together.”