The size of the ethical food market in the UK has swelled to £12.5 billion in the past year, with an annual growth of a 4.66 per cent rise, reveals the latest figures from the Co-op.
According to the annual Ethical Consumerism report by the retailer, free range eggs account for the biggest shift in consumer spending on food and drink – up 15.2 per cent – last year, closely followed by plant-based products which have risen 11.4 per cent.
The consumer co-operative, which has been monitored ethical spending habits for over 20 years, said the total size of the ethical food market was just £1bn in 1999, when it published its first report.
The latest report shows sustainable consumer behaviours prompted by the impact of coronavirus is here to stay, as over a half of public transport users saying they will continue to avoid buses and trains, even after the pandemic.
Hybrid and electric cars account for the biggest growth in ethical spending, which a major 40 per cent rise to hit over £5bn for the first time.
The report forecasts that the sharp rise in local shopping is also set to continue post pandemic as some 58 per cent of shoppers say they are determined to continue to support the local high street in the coming year.
And ethical consumerism, which is forecast to exceed £100bn despite the pandemic, is set to grow further in 2021 with a third of shoppers (32%) aiming to purchase more plant-based food and Fairtrade (27%), reduce single-use plastic consumption (52%) and become more energy efficient in the home, with 49% aiming to reduce heating and lighting consumption.
“The Co-op has tracked ethical spending for two decades and this barometer on ethical purchases shows a remarkable shift,” commented Jo Whitfield, chief executive of Co-op Food.
“Sustainable shopping has moved from being a niche market to an area of big spend. As growth continues, threats will naturally exist due to the economic impact of the pandemic, but through a challenging environment, opportunities will open up.”
