Global Non-GMO Food and Beverage Market to Reach $800 Billion by 2017: Packaged Facts Report
Rockville, MD (PRWEB) November 13, 2013
Global sales of non-GMO food and beverages are projected to rise to $800 billion by 2017 at a compound annual growth rate (CAGR) of 15%, and will account for about 15% of total global food and beverage sales at that point, according to Packaged Facts’ recently released report, “Non-GMO Foods: Global Market Perspective.” Global sales of non-GMO products reached $400 billion in 2012, accounting for 8% of the overall global food and beverage sales of $5 trillion.
Excluding the United States and Canada, Packaged Facts identifies 10 countries that represent as much as two-thirds of the new global non-GMO product introductions from 2009-2013. Russia is the leader with a 15%, followed by the United Kingdom with a share of 10%. From a comprehensive global perspective, the United States’ share is roughly 40%. Aside from the U.S. and Canada, Europe represents seven in 10 global non-GMO food and beverage rollouts between 2009 and 2013. Europe is followed at a considerable distance by Asia and Oceana.
Packaged Facts projects that non-GMO sales will increase in all regions of the globe, as will the practice of labeling foods and beverages with non-GMO verified or certified labels. Prompting increases will be the inevitable expansion of GMO crops into territories where they had previously been banned or limited. Concerned shoppers will want GMO and non-GMO labeling to help them distinguish between the two types of products. The BRIC nations—Brazil, Russia, India, and China—will be fertile territory for non-GMO sales as their emerging middle classes look for healthier eating options, according to David Sprinkle, research director for Packaged Facts.
As other nations seek to clarify the labeling of their products, both GMO and non-GMO, Packaged Facts projects the portion of the global non-GMO market represented by sales in the U.S. will decline through 2017. In addition, non-GMO labeling will become more available as certified testing operations, like NSF International, join Cert ID in the non-GMO verification market to take advantage of a growing demand from marketers.
About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods (including foods and beverages, health and beauty care, and household products), and pet products and services. Packaged Facts also offers a full range of custom research services. To learn more, visit: http://www.packagedfacts.com. Follow us on Facebook, LinkedIn, Twitter, and Google+.