The ‘green revolution’ is changing the world, and business life is not an exception. Many new business ideas are emerging, while many old and traditional ideas are struggling in the changing environment. Undoubtedly, global warming and the configuration of consumer tastes will be a shock for many business owners, but this is a great time to try new ideas and launch new businesses in a revolutionary way. Furthermore, it is often more rewarding to innovate and think in a new way. Below are seven green business trends that are expected to thrive in 2020 and beyond. They will revolutionise global business, changing the global economy.
- Renewable energy
Another green business trend that is expected to thrive in the future relates to renewable energy. It has already shown good performance as more companies invest in solar, wind and other sources of renewable energy. However, future prospects are likely to be even more spectacular. Deterioration of the natural environment and the growing pain from natural disasters will further drive growth in renewable energy. In addition, technological progress makes the business more efficient, reducing costs for electricity generation and delivery. It is also important to note that renewable energy became more popular in the B2C market as more families choose to install solar panels on their home roofs.
- Shipping containers as food stalls or offices
One idea is the use of a shipping container, like those provided by S Jones Containers, as a food stall or an office. It is a new way of doing business in the current environment that gives many advantages to business owners. First, it allows businessmen to better design their building. Second, it is often a cheaper option than renting or buying a fixed structure. Third, shipping containers are movable, so it can be fairly easy to relocate to another place if necessary. This is a great idea for both businesses and restaurants, that provides a cost-efficient alternative to investing in traditional structures.
- Smart homes and the drive to energy efficiency
Energy efficiency has become a new trend in the world as more consumers and businesses take on eco-friendly options when it comes to home renovation or construction. This creates new opportunities for builders and technological firms that enter the growing market. New technologies, such as smart homes, allow consumers to optimise the use of energy and improve overall efficiency of resource usage. In addition, a new trend is the use of recycled materials instead of new materials and fixtures that contribute to lower emissions and lowers the footprint on the environment
- A circular economy and waste reduction
The economy is going to be circular in the future, due to consumer pressure and drive towards more waste reduction and lower emissions. Businesses that jump early will reap huge benefits as more consumers start shifting to the idea of waste minimisation. Furthermore, government policies slowly turn toward the fight with climate change, and a circular economy turns out to be a more potent green idea for business that want to thrive in the new environment.
- Lab-grown food options
Another trend in green business relates to artificial meat and other food products. Technological innovations and changing consumer tastes are expected to bring more growth to the sector. There are a few companies that already operate in the business and have become popular among middle-class consumers. This business is at the growing phase, and more innovation is likely to come. Artificial meat products and other food are likely to help feed the growing world, with global population starting to go beyond sustainable levels.
- Electric vehicles and the green revolution in transportation
Traditional industries are struggling to compete in the changing environment with lower emission standards and restrictions on CO2 pollution. However, the new trend is electrification of the transportation sector. Companies like Tesla have already grown to be real rivals to traditional automakers. Furthermore, technological progress and innovation are expected to accelerate growth in the industry with new technologies, such as biofuel or a driverless car concept. Therefore, the transportations sector in the future will look different, and will reward innovation.
- Plastic replacement
Another big green trend in waste minimisation relates to the replacement of plastic products with more sustainable alternatives. There is a growing trend for tech companies and start-ups entering the industry to offer more sustainable business ideas to help cure increasing emissions. One alternative is grass products that can replicate plastics, being environmentally friendly and not adding more waste. It is especially important to plastics, which are almost not recyclable. Thus, the firms that focus on better waste minimisation alternatives are likely to thrive in 2020 and beyond.