The global market for organic food and drink after facing the economic slowdown, is graually growing with revenues projected to approach USD 60 billion this year.
According to Organic Monitor, in its new Global Organic Food & Drink Market report, finds that global sales increased by just 4.7 percent in 2009, compared to previous years of double-digit expansion.
The North American market for organic food and drink continues to show healthy growth. It has overtaken the European market this year to become the largest in the world. Although the US has shown a large rise in organic farmland, organic food supply continues to fall short of demand; organic products are imported from various regions. Latin America has become a major source of organic fruits, vegetables, meats, seeds, nuts and ingredients.
The market for organic products in other regions is also showing healthy growth, especially in Asia and Latin America. Growing consumer awareness of organic agriculture and increasing distribution are the major drivers of market growth in these regions. Organic foods are becoming widely available in large food retailers, with some launching private labels. There is also a growing convergence between organic and other eco-labels.
Posted on: 17.12.2010