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Bio-based Products Future is Promising, but Hurdles Exist

Supply Chain View from the Field

Unfortunately, The North American Industry Classification System (NAICS) is the standard-bearer for classifying businesses and sectors. Many of the largest multi-national retailers discussed with us the perceived benefits that biobased products can provide in their corporate sustainability goals and programs. There has, in fact, emerged a “consumer pull” for green products, as millennials are willing to pay the same (or even 10% higher) price for greener sustainable products.