December 19, 2017 – Driven by the 75-million strong millennial generation, the organic sector is growing fast according to speakers at the Organic Grower Summit put on by CCOF and the Organic Produce Network in Monterey last week. “Wall Street is bullish on organics, it’s big, it’s growing and it’s on trend,” investment banker Scott LaRue told the 800 conference goers.
While organic produce still represents only 12% of sales, it is growing 13 times faster than the food industry as a whole. According to research presented by LaRue:
81% of millennials want to know how their food is produced
81% of millennials at willing to pay more for foods benefitting their health
73% are willing to pay more for sustainable brands
38% say fair trade influences their purchases
There are plenty of investors ready to put money into the organic sector, but there is a lack of publicly-traded companies to invest in, he added.
The first-time conference and exhibition attracted 300 certified organic farmers and 75 companies that provide agricultural products and services for farmers, including products like soil amendments, seed tape, packaging and software used to meet traceability regulations.
“The idea behind this event was that a lot of these organic suppliers attend the huge produce shows and kind of get lost or overlooked, and we wanted to showcase them in a more intimate setting,” said Tonya Antle, co-founder of OPN with Matt Seeley. (See the winter issue of EMB for more on their work.)
“I’ve been in this industry for 30 years and this is the show I’ve been waiting for,” she added.
Seeley said he had expected the event to be more California-centric, but was pleasantly surprised to find out there was interest from companies around the world, including the Middle East and Asia. “I think we did a good job with the format and the educational sessions,” he said. “There is a big appetite for relevant, pertinent information as it relates to organics.”
Organizers are already planning the next Organic Grower Summit for December 12-13, 2018. Next year it moves to a larger space in the Monterey Conference Center.
About the author
At Edible Monterey Bay, our mission is to celebrate the local food culture of Santa Cruz, San Benito and Monterey Counties, season by season. We believe in sustainability, and we believe everyone has a right to healthful, clean and affordable food. We think knowing where our food comes from is powerful, and we hope our magazine, website and newsletters inspire readers to get to know and support our local growers, fishers, chefs, vintners and food artisans.
