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Food industry market predictions

Solid growth for the US organic food market is expected to continue until 2018, according to a new report that puts a compound annual growth rate (CAGR) of 14% on the sector.

The new “United States Organic Food Market Forecast & Opportunities, 2018” report adds that the Western US is driving much of the organic food market revenues on the back of growing domestic production and increasing awareness.

“The organic food market contributed about 4% to the country’s overall food market in terms of revenues during 2010, ” said Karan Chechi, research director at TechSci Research.

“Furthermore, the retail organic food market is an emerging trend in the country. Therefore, with the increased consumer food expenditure of about 7.67% during 2010-12 the demand for organic food through retail sales medium is anticipated to increase, ” he added.

Demand for organic products is increasing, and about 81% of American families reported to be purchasing organic food at least some times, according to 2012 estimates from the Organic Trade Association. In addition, domestic organic food production has increased about 240% between 2002 and 2011, compared with 3% in the non-organic food market.

‘Sales topping $81.3 billion in 2012’

The predicted growth is consistent with those reported recently by Information Resources Inc. (IRI) and SPINS, which found that with natural/organic retail sales reaching $81.3 billion in 2012, up 13.5% from the year before.

The growth could be significantly larger, however, given that two small “power shopper” groups, together comprising 18% of consumers, account for almost half of all sales of natural/organic products. This leaves 82% of consumers who still haven’t reached their buying potential in this fast-growing CPG segment.

The two firms surveyed 5, 000 consumers for the study, and found that two leading purchasing segments—dubbed true believers and enlightened environmentalists—make up for 46% of all natural/organic product sales.

“Manufacturers and retailers have a significant opportunity to better understand and tap into the needs, wants and motivations (of the true believers and enlightened environmentalists)—not only to drive sales volume but also to continue to deliver the innovative products that shape our industry, ” said Tony Olson, CEO of SPINS, in a statement.

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Popular Q&A

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How does the fast food industry market its food?

I am having difficulty understanding exactly what you question is. If you are referring to how the fast food industry makes its food attractive to buyers so as to gain more customers, I can answer that. The fast food industry markets its food mainly by good marketing advisers and experts in that field. A good example is Chick-fil-A. They market their food and products by their ingenious advertising effort. They make their products look fun while encouraging people to become huge fans. Thus, they have many of what they call "raving fans."

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What is predictability? and whats an example of it in a fast food industry?

Predictability is that you can predict what is coming at you. Predictability is everything in the fast food industry. No matter what the particular chain calls it, a hamburger is a hamburger, a cheeseburger is a cheeseburger, a chicken nugget is a chicken nugget, and the drinks are mostly the same. You can walk in and know what will be on the menu.

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