Green Product Sales Remain Strong

While many companies are currently struggling, research shows that companies with green products are only gaining speed. According to a recent study by Datamonitor’s Product Launch Analytics, companies have over 450 new products that claim to be sustainable or environmentally-friendly so far this year. If this continues for the rest of the year, there will be around 1,570 new green products launched in 2009, which is double the number of new green products in 2008 – which saw a doubling of the numbers from 2007.

Research firm TerraChoice found that many of these eco-friendly claims aren’t truthful, as greenwashing is rampant among companies hoping to cash in on this trend, though long-term green companies like Seventh Generation are also seeing profits. They’ve seen sales up 50% in 2008, and March 2009 profits were 20% higher than March 2008’s profits.

Some industries, however, are suffering as consumers gravitate towards green products. Bottled water sales are down, for example. However, studies show that consumers are instead turning to water filters, as Brita and Pur have both seen includes in sales recently.

Image via Amazon.