Exceptionally high growth rates have tightened the supply in almost every sector of the market and this is creating opportunity for the organic food exporters.
At the world level, the trend of organic agriculture is picking pace and certified organic aquaculture is a quite recent initiative.
Number of certification agencies and organic growers' associations began developing specific aquaculture standards. It is projected that the countries where consumers have high disposable incomes, such as Switzerland, the US and Singapore, would drive the demand in near future.
The report "Emerging Organic Food Markets" provides research on the growing market for organic food and beverages all around the world. It defines the organic food market in various countries of the world and gives thorough insight into market trends and market segments, creating an industry overview for organic food and beverages market.
The report says that the global organic food market is growing rapidly, with the growth rate of about 19% in 2007. Increasing health and environmental awareness among consumers is the major reason for the stupendous growth in the market. Demand for organic food is concentrated in North America and Europe, these two regions contributed around 96% of global revenues in 2007.
Key Findings of the Report
- Global organic food market is expected to reach US$ 70.2 Billion by the end of 2010.
- Europe has the largest share in global organic food sales, followed by North America.
- North American organic food market grew at a CAGR of around 21% during 2005-2007. It is facing supply shortage of organic products and filling this gap by import.
- Emerging markets like Spain, Singapore and India are supported by their government to promote organic farming.
- Organic food market in Asia-Pacific is forecasted to grow at a CAGR of approx 18% during 2008-2010.
- Large retailers are increasingly focusing on aggressive, targeted marketing and promotion for organic products at the global level.