Record-breaking growth in American organic market
The value of the US organic market in 2013 has exceeded $35 billion for the first time, a jump of nearly 12% from 2012 according to Eileen Bentley, Small Business & Prepared Foods Manager, Bord Bia.
She outlined in a recent Bord Bia Food Alert that data from the US Organic Trade Association (OTA), reports that the 2013 figures represent the fastest growth rate in five years.
The OTA is also forecasting a similar growth rate in 2014 and 2015 in more good news for the industry. The survey reports that food represents 92% of organic sales in the US, with organic food accounting for more than 4% of the €760 billion annual food sales in that market.
Fruit and vegetables accounts for 15% of total organic food sales, and the snack food sector grew 15% in 2013 to $1.7bn. The packaged and prepared food sector grew by 10% to $4.8bn. Only Dairy and Organic Beverages experienced single digit growth in 2013.
Bentley also outlined that in Ireland, latest Kantar figures report a return to growth of the organic retail market in 2014. The market is worth €98 million and has grown just over 2% year on year.