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NEW YORK -- Sales of organic, hormone-free, eco-friendly, locally grown, cruelty-free, and other ethical products will maintain double-digit growth over the next five years, surpassing $57 billion in 2011, according to a new study by market research firm Packaged Facts.
According to the report, "Ethical Consumers and Corporate Responsibility: The Market and Trends for Ethical Products in Food and Beverage, Personal Care, and Household Items," U.S. retail sales of grocery products making some form of ethical claim reached nearly $33 billion in 2006, an increase of over 17 percent from 2005.
"The days of the granola head at a natural food store are gone," said Don Montuori, publisher of Packaged Facts. "Mass market channels are quickly catching up to the stage set by natural wonders such as Whole Foods and Trader Joe's, a trend which should increase substantially with the entrance of Wal-Mart into the ethical marketplace."
According to the report, food and beverages dominate retail sales of ethical products, with an 82 percent market share. With organics becoming popular in all retail channels, the awareness of ethical edibles has skyrocketed, making hormone-free, pesticide-free, Fair Trade and other ethically labeled foods and beverages widely popular with consumers from all walks of life.
"Ethical Consumers and Corporate Responsibility" provides an analysis of emerging ethical trends, market outlooks, and profiles of industry players.
The full report is available at www.packagedfacts.com