Sales of organic foods are booming in spite of the global recession, according to a new study by market research company Packaged Facts.
The value of the US market for environmentally sustainable or ‘ethical’ food products is set to rise by 8.7 per cent to US$38bn this year, and is projected to hit US$62bn by 2014.
Europe is also seeing a growth trend, with supermarkets beginning to lower prices of organic food to rival those of conventionally grown produce.
Germany is the continent’s biggest consumer of organic goods, with a turnover of €2.8bn last year, closely followed by the UK with €2.6bn.
France’s organic consumption is also on the rise, with French market forecaster Institut Precepta predicting its turnover will increase to €2.86bn by 2012, The Independent reported.
Perhaps most surprising is the popularity that organic produce is enjoying in Eastern Europe.
Organic sales for the first half of the year in 21 Romanian supermarkets owned by French chain Carrefour were up 15 per cent on the same period last year.
In Poland organic food is available in most supermarkets, and one online retailer has more than doubled its sales in ayear.
According to data collator Organic-World.net, the countries with the largest share of organic consumers are Switzerland, Austria, Denmark and Luxembourg.
