Growing green-natural products markets
Recent data from the U.S., Australia, and Europe show that the natural products market is expanding rapidly. Some interesting findings were presented at Natural Products Expo West in Anaheim, California. While current global economic issues, such as rising inflation, are hurting sales of natural and organic products, the data presented shows that the future is promising.
According to the New Hope Nutrition Business Journal, the overall natural and organic products industry grew 5.4% in U.S. consumer sales, Carlotta Mast, senior vice president of the New Hope Network, told a packed audience during Expo West’s opening keynote.
“The good news is that the grocery industry continued to grow last year despite the impact of inflation,” he said, “and while growth has slowed compared to 2020, when we experienced record sales due to unprecedented pandemic pantry backlogs and other dynamics, we remain optimistic.”
Much of this growth was driven by natural and organic foods, with “natural living” products, including personal care, household and pet products, up 6% and functional food and beverage sales up 5.8%.
The idea that natural and organic will go mainstream was further reinforced by sales growth across channels, with local grocers, general multi-outlets, and convenience stores all outpacing sales growth in the natural channel.
If you’re curious about the factors driving the growth of natural, organic, and functional foods and beverages, read more here.
Source: SPINS’ Nutrition Business Journal data presented at Natural Products Expo West.
www.spins.com/eight-takeaways-from-expo-west-2023.
www.foodnavigator-usa.com/Article/2023/03/13/inflation-slows-doesn-t-stop-natural-organic-sales-growth