Economics
Demand for organic foods is primarily concern for personal health and concern for the environment. Organic products typically cost 10 to 40% more than similar conventionally produced products. According to the USDA, Americans, on average, spent $1,347 on groceries in 2004; thus switching entirely to organics would raise their cost of groceries by about $135 to $539 per year ($11 to $45 per month) assuming that prices remained stable with increased demand. Processed organic foods vary in price when compared to their conventional counterparts.
While organic food accounts for 1–2% of total food sales worldwide, the organic food market is growing rapidly, far ahead of the rest of the food industry, in both developed and developing nations.
- World organic food sales jumped from US $23 billion in 2002 to $52 billion in 2008.
- The world organic market has been growing by 20% a year since the early 1990s, with future growth estimates ranging from 10%–50% annually depending on the country.
Read more about this topic: Organic Food
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