March 31, 2009
World demand for organic foods to grow 46 percent
Global demand for organic foods is expected to grow by 46 percent in the next five years, according to an outlook from the United Nations Trade and Development Agency (UNCTAD).
Organic retailers are experiencing consumer resistance to paying more for the produce, but many consumers have weighed the higher cost against its benefits and concluded that organic foods are worth the extra cost, the UNCTAD said.
World sales from certified organic products are projected to reach US$67 billion in 2012, up from US$46 billion in 2007 and from US$23 billion in 2002.
More farmers should start supplying organic food, which is attracting a much wider demographic than previously seen, the UNCTAD said.
The agency noted that the increasing number of organic food consumers in developing countries will benefit the prospects for farmers.
