Monday, July 23, 2007

$86 Billion by '09

"San Jose, CA (PRWEB) July 23, 2007 -- The global organic foods and beverages market is delivering strong double-digit annual growth as health and well-being moves up high on the consumer's priority list. Outbreak of recent food scares, rising awareness of the long-term health impact of pesticidal residues in food, unhealthy ingredients such as carbohydrates, fat, calories and hydrogenated oils, and use of genetically modified organisms (GMOs) in food products, among others, have all turned the spotlight on organic foods, which are today given the status of a health food. North America and Europe between them collar over 80% of the world market for organic foods and beverages.

United States is the largest market for organic foods and beverages in the world and is projected to reach sales of over US$43 billion by the year 2010, as stated by Global Industry Analysts, Inc. Asia-Pacific region with a CAGR of more than 28% is projected to be the fastest growing organic foods and beverages market. Organic foods are rapidly making inroads into the mainstream food channel and emerging as a global phenomenon. Consumers today increasingly perceive organic produce as healthy for consumption as against the hitherto non-organic supremacy. Organic produce market is the largest segment in the organic foods & beverages market and is projected to reach sales of US$33 billion by 2010. In addition to health, concern for the environment is also driving a sect of consumers towards adopting an organic dietary regime. The non-dairy organic beverages market is also rising due to increased demand for organic juices and drinks. Non-dairy organic beverages market is set to witness the fastest growth of more than 18.5% during the ten-year analysis period."

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