Natural and organic market to $32.9 billion this year
September 10, 2008
by FoodBusinessNews.net Staff
NEW YORK — The natural and organic food and beverage market will reach $32.9 billion this year, according to "Natural and Organic Food and Beverage Trends in the U.S.," a new report from Packaged Facts.
Between 2005 and 2008, Packaged Facts estimated market growth of 67.6% with a compounded annual growth rate of 18.8%.
"While natural and organic products are no longer recession proof, Americans are waking up to expect natural and organic food in their stores — food that is pesticide-free, hormone-free and non-G.M.O.," said Tatjana Meerman, publisher of Packaged Facts. "And suppliers and retailers are quickly acting to provide it to them. We believe this consumer demand will continue to spur the strong growth for these products."
Even current economic conditions as the result of rising prices of fuel and grain are not enough to stop the growth of the category, which is predicted to have strong single-digit growth through 2013.