Via: Elaine Pofeldt, special to CNBC.com
From the article:
Whole Foods Market sales increased $3.7 billion in the second quarter, driven by America’s insatiable appetite for organic, healthy food.
The trend is not surprising, considering that about $45 billion is spent on organic food every year in the United States. Today, organic products are available across America in more than 20,000 food stores and nearly 3 out of 4 grocery stores, according to TechSci Research. And it is projected to grow at a compounded annual rate of 16 percent through 2020.
On a global scale, the market for organic, functional allergen-free and better-for-you foods will reach a record $1 trillion in 2017, according to Euromonitor International.
“There is a seismic change in what people are eating and want out of their food and beverages,” said Greg Wank, practice leader of accounting firm Anchin, Block & Anchin’s Food and Beverage Industry Group in New York City. “People want more than good taste and their hunger satisfied. They want food and beverages that have some functionality for their bodies and their health.”
Read the entire article.