News of Organic Industry
Organic agriculture and cotton growing have been singled out as industries with potential to make their mark in 2016, according to reports by international market research and business intelligence firm IBISWorld, explains Farm Weekly. Other industries on the list of sectors set to boom include internet publishing and broadcasting, housewares retailing, and universities and other higher education providers.
The organic farming sector is forecast to see revenue grow by 5.6 per cent to reach $733.8m as demand domestically and overseas encourages new production and more retailers make space for organic lines. Although global market pressures and dry seasonal conditions are key hurdles not to be underestimated, IBISWorld has tipped cotton growing "will fly" with revenue worth about $879 million - well up from 2014-15.
Rising consumer health consciousness about pesticides and environmental awareness, plus the fact major supermarket chains Woolworths and Coles now stock wider ranges of organic lines, were making organic product choices more mainstream. These trends were contributing to the industry's strong business performance said IBISWorld senior industry analyst Spencer Little. "Organic beef has been a major growth product in the past five years," he said.
Tags: organic cotten , organic farming