NEW YORK—The organic foods and beverages market grew more than 26% to $4.5 billion in 1997, according to “U.S. Organics 1998,” a consumer goods report by Datamonitor of New York City. Companies such as Hain Food Group (HAIN), Horizon Organic Dairy (HCOW), and Cascadian Farm all have positioned themselves successfully for growth, said analyst John Gilmore in the report. Some 60% of current organic sales are by specialty retailers such as Whole Foods Market and Wild Oats, but supermarket sales have grown in excess of 40% yearly over the last five years. The future of the industry will be determined by national standards and a definition of an organic product to be set by USDA.
For more information, call Tara Rummell at 212.686.7400, x162, or visit www.datamonitor.com.