Organic food market on rise
NEW DELHI: Organic food market has grown at a compounding annual growth rate of 30.7 per cent over the period of financial year 2009-2014, said a report released by ASSOCHAM.
According to the report, the organic food market is estimated to rise from US$402 million to US $ 965 million in 2016.
Because of its natural and chemical free quality, most people in India look for organic food for their eating habits. Analysts believe that the trend of health consciousness among consumers have led to upsurge in the organic food sector.
Organic food market which was considered as a niche segment by the Indian consumers has now transformed into a full-fledged industry with high growth potential.