Green marketing is a form of remodeling the existing methodology and modifying the production process in order to seek an appropriate fit between currently practiced procedures and ecological marketing. It is a type of environmental marketing that eliminates all the causes that pollute the surroundings, thereby making it unfit for human living. Green marketing finds alternative ways, rather than refocusing and reforming the previous procedures. It is defined as marketing of products in an environmentally safer manner.
There are ongoing debates since the last five years over green marketing, across the globe. Major concerns are regarding energy star levels for the products available in the market. Owing to the 2.1% of overall carbon emission by the IT industry, ‘Green Data Centre’, which forms the new green data storage and manipulation centre is estimated to boost the green data centre market to new levels. In the next five years, green data centre is set to achieve USD 42.1 billion by 2016.
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The EPA regulations over emissions released by various industries are fuelling the green marketing market. The amendment of government policies over the emission of harmful pollutants into the environment, leading to harmful effects on human health is also one of the major driving forces for the green marketing market.
Many emerging and developed countries have already adhered to certain policies that strictly follow the implementation of green marketing market. The increased scrutinized policies across the globe by various governmental agencies are pushing the green market well ahead.
Every company can reveal its uniqueness by producing eco friendly products into the market. This helps in gaining governmental support as well. Green marketing experiences growth in the sales revenue as a result of consumers being environmentally aware.
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However certain consumers who rather value features and benefits, more than environmental concerns are acting as the major inhibitors to this market. Many products manufactured by companies across the globe keeping in mind the factors polluting the environment, are gaining popularity but are also rejected by people who believe in purchasing products benefitting them, but which may harm the environment.
The upcoming FDA, EPA regulations and policies across the globe are acting as the major opportunities for the green marketing market. Some of the key players of the green marketing market are Europa, Eureka Forbes, Britannia and many more.
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