Amidst the growing food prices, many American consumers are still leaning towards natural and organic foods that are pesticide-free, hormone-free and non-GMO. The cost-conscious American consumer is putting a premium on practicing healthier eating habits, as certified organic growers begin to develop specialized niches and loyal customer base in the market.
The natural and organic food and beverage market is reshaping the US consumer lifestyle, with a wide range of products available in every retail outlet in the country. US consumers are also increasingly becoming health savvy consumers with preference on purchasing natural alternatives to processed foods and other mainstream offerings.
The natural and organic market continues to gain strength in food, drug, and mass outlets as manufacturers and retailers increase their educational campaigns in presenting the advantage of buying organic and natural food and beverage products.
The estimate for 2008 sales of natural and organic food and beverages is expected to continue at a double-digit growth rate to reach $32.9 billion USD. For the period of 2005 to 2008, with expectations of remarkable market growth of 67.6% and a compounded annual growth rate of 18.8%.
Sources:
Ind US Business Journal Online: http://www.indusbusinessjournal.com; Accessed November 2008
“US: Market grows for the totally organic”: http://www.freshplaza.com; Accessed November 2008
“Surge in Natural and Organic Food Sales Means Billion Dollar Boom” Marketwire: http://www.marketwire.com
“Surge in Natural and Organic Food Sales Means Billion Dollar Boom” Marketwire
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