Even in the testing scenario of economic slowdown, the industry posted 5.1% year on year growth in 2009, which was well ahead of overall food industry growth in the country. Emphasizing on the existing and upcoming market trends, the "US Organic Food Market Analysis" - released by RNCOS institute - further reveals that the industry will orchestrate 12.2% Compound Annual Growth Rate (CAGR) during 2010-2014.
The research identifies fruit and vegetables segment as the most dominant segment among organic foods segments in the US. In 2009, the segment accounted for 38% of total organic food market and sustained its top slot. Improving economy is improvising job market and ultimately increasing income levels. This, along with various other factors, discussed and analyzed in the report, will make the US organic food industry one of the fastest developing markets during our forecast period.
According to an article on Sustainable Business, the International Federation of Organic Agriculture Movements (IFOAM) reported that organic food is now a $63 billion industry worldwide. From 2002-2011, the industry grew a whopping 170%, averaging about 19% per year.
The article also states that the United States is the “largest single market for organic food (and beverages)”. Recently, the U.S. organic industry reached $31.5 billion in sales, a 9.5% increase from the previous year. However, despite there being a high consumer demand for organic foods, there are still not enough organic farmers to support the need. The article says that Americans get most of their organic foods from developing countries.
Even though the organic farming industry has grown rapidly worldwide, organic agriculture still makes up less than 1% of the world's farming acreage “with 37.2 million hectares planted worldwide across 162 countries.”
Philippe van den Bossche, an organic agricultural advocate and Chairman and Owner of Advancing Eco-Agriculture, believes there needs to be more of a worldwide initiative with organic farming to ensure the industry remains on a global rise. “We’re gaining speed but we can’t get lackadaisical with our efforts to increase organic farming across the globe. It’s proven to have health advantages and to be economically and environmentally beneficial for all involved so we need to keep the momentum going.”
Philippe van den Bossche is an impact entrepreneur and investor and Chairman and Owner of Advancing Eco Agriculture, an agricultural and horticultural consulting and manufacturing company providing consulting services and specialty nutritional materials for use in irrigation systems and foliar applications. As an avid organic agricultural advocate, he believes that the production of healthy crops is a function of complex interaction between soil, plants and microbes.
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Philippe van den Bossche is an impact entrepreneur and investor and Chairman and Owner of Advancing Eco Agriculture, an agricultural and horticultural consulting and manufacturing company providing consulting services and specialty nutritional materials for use in irrigation systems and foliar applications. As an avid organic agricultural advocate, he believes that the production of healthy crops is a function of complex interaction between soil, plants and microbes.
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