Raw Materials Sponsored by
by Treatt plc
Consumers today have a conscience. Natural, organic, ethical and sustainable have become everyday vocabulary. In 2007, the United States was the largest market for fair trade products, with the United Kingdom having the highest spend per capita. The global fair trade market is predicted to reach $1600 million by 2012.1 This indicates significant potential for food and beverage manufacturers who are both keen to employ more ethical practices and capitalize on this growing market, as well as for fragrances. The flavor industry in particular, which is continually in pursuit of unusual and exotic flavors to meet consumer demand, frequently sources its ingredients from the developing regions at the center of the fair trade debate.
Equally, fair trade in the fragrance and personal care industry is on the increase. For a number of years, the beauty market has been the subject of media criticism in terms of the ethical and environmental impact. As a result, consumer demand for personal care products using natural, ethical and sustainable ingredients has risen, and manufacturers have been under pressure to respond.
Since the concept of fair trade hit the mainstream, however, the number of product launches has remained steady. Like organic produce, it takes longer for manufacturers to source fair trade ingredients and develop end products. Because of this, consumer demand for fair trade products has outweighed supply. Many perfumers, flavorists and manufacturers are therefore seeking ingredient suppliers to help them respond by providing the ingredients to create ethical products and bridge the gap between supply and demand.
Guaranteeing a Fair Deal