The Market for Organic Foods

The global market for organic foods is expected to expand from $26 billion in 2001 to $80 billion in 2008. The greatest market growth has been in the European Union, where market revenues were forecast to expand by a third in 2001 to reach $12 billion, largely due to growth in Germany, Italy, France, and the United Kingdom. In all these countries, except the United Kingdom, growth has resulted from organic foods moving into mainstream marketing channels and from increased consumer interest. Japan is the third largest market for organic foods and accounts for the bulk of Asian organic market revenues. High growth is also occurring in Singapore, Hong Kong, and Taiwan, though these markets remain much smaller than the Japanese market.

The U.S. organic foods marketplace reached $6.95 billion in sales in 2001, up 19 percent from 2000. Sales are expected to increase in the United States, reaching $20 billion by 2008. The largest market for organic products worldwide is in fresh produce. Other popular organic foods include soy foods, meat, poultry, eggs, and meat and dairy alternatives.

Fresh produce is the top-selling organic food, but organic dairy products are rapidly gaining popularity. Organic foods can be significantly more expensive than their conventionally grown counterparts, and research has not proven that health reasons alone justify their cost. [AP/Wide World Photos. Reproduced by permission.]

Fresh produce is the top-selling organic food, but organic dairy products are rapidly gaining popularity. Organic foods can be significantly more expensive than their conventionally grown counterparts, and research has not proven that health reasons alone justify their cost. [AP/Wide World Photos. Reproduced by permission.]

nutrient: dietary substance necessary for health fat: type of food molecule rich in carbon and hydrogen, with high energy content vitamin: necessary complex nutrient used to aid enzymes or other metabolic processes in the cell mineral: an inorganic (non-carbon-containing) element, ion or compound fiber: indigestible plant material which aids digestion by providing bulk cancer: uncontrolled cell growth

0 0

Post a comment