The UK’s ethical goods market, estimated at £38bn, is on the rise again this year and is now worth twice the value of the tobacco market!
According to Positive News, a new research shows that the sales of ethical goods has increased by 8.5% in the UK.
The 2016 Ethical Consumer markets report, explains that more companies “are bringing more ethical choices than ever before to modern consumer markets. These range from tiny, one person, operations making organic food products in their own kitchens to Nissan’s latest range of electric cars.”
This report compiled by both ethical rating body Ethical Consumer and Triodos Bank, shows that the UK’s ethical goods and services sector grew again for the thirteenth year in a row, reaching a total value of £38bn, estimated to be worth almost double the UK tobacco market.
“This report shows that people are increasingly choosing to spend their money in ways that line up with their values,” said Huw Davies, head of retail banking at Triodos Bank, to Positive News.
Released on 28 December, the report highlighted three major trends in the ethical sector: the ‘green car revolution’ still booming, the number of people shopping locally for ethical reasons growing by 11.7% in 2015 and a growth of 5.3% in Ethical Food & Drink sales.
“With people now able to choose ethical alternatives for pretty much everything they need from morning to night,” suggests the report, “this growth in ethical buying is also, arguably, beginning to help us sketch out a more optimistic counter-narrative of what a more sustainable and socially just future might look like at a moment when this kind of vision is most needed.”
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