Growth in demand for organic foods expected
Global demand for organic foods is expected to grow by 46% over the coming five years despite the world economic crisis, according to an outlook from the United Nations Trade and Development Agency (UNCTAD).
Although organic retailers are experiencing consumer resistance to paying more for organics, the UNCTAD says many consumers have weighed the higher cost of organic food against its benefits – concluding that organic foods are worth the extra cost.
World sales from certified organic products are expected to reach $67 billion in 2012, up from $46 billion in 2007 and about $23 billion in 2002.
Organic produce is attracting a much wider demographic than previously seen – and this is highlighting the need for more farmers to start supplying organic. In developing countries, the increasing number of organic food consumers has a knock-on benefit for the prospects for farmers, says the UNCTAD.
[Source: Stock journal]
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