Follow us on Twitter Follow us on Facebook View our linked in profile View our RSS feeds
SustainableBusiness.com
 
News
Your daily source for sustainable business & sustainable investor news.

(view sample issue)


This is an archived story. The information and any links may no longer be accurate.

04/06/2009 12:38 PM     print story email story  

Organic Cotton Market Hits $3.2B in 2008

SustainableBusiness.com News

Global retail sales of organic cotton apparel and home textile products reached an estimated $3.2 billion in 2008, according to an industry report. This represents a 63% increase from the $1.9 billion market in 2007.

The report released by the non-profit organization Organic Exchange found that top ten organic cotton-using brands and retailers globally were Wal-Mart (NYSE: WMT) (USA), C&A (Belgium), Nike (NYSE:NKE) (USA), H&M (SE), Zara (Spain), Anvil (USA), Coop (Switzerland), Pottery Barn (USA), Greensource (USA), and Hess Natur (Germany).

Despite the global retail outlook, most brands and retailers selling organic cotton products remain committed to their sustainability plans, according to the "Organic Cotton Market Report 2007-2008."

The report states that product lines will expand on average 24% in 2009 and 33% in 2010, resulting in an estimated $4 billion market in 2009 and a $5.3 billion market in 2010.

“It is a sign of the times that despite ominous financial forecasts, brands and retailers are standing fast to their commitment to making their product lines more sustainable by ever increasing their use of organic cotton and other organic fibers such as wool, linen, and silk,” said LaRhea Pepper, Organic Exchange senior director.

The amount of organic cotton farmers grew worldwide in 2007/08 increased 152%, according to OE’s Organic Cotton Farm and Fiber Report 2008, organic cotton production increased to 145,872 metric tons (MT) (668,581 bales) grown on 161,000 hectares in 22 countries worldwide (from 57,932 MT (265,517 bales) produced in 2006/07).

OE notes that during 2008, certified organic cotton fibre supplies grew by 95%, significantly higher than annual growth rates of 45% in 2006 and 53% in 2007.

“Farmers who planted on speculation or expanded without market partners may have shifted the market into a state of oversupply in 2009,” says Pepper, who strongly discourages farmers from taking this kind of risk. “Brands may want to explore opportunities for expanding their organic programs with their business partners,” she continued, “as for the first time in many years, supplies of organic fiber, yarns, and fabrics are more available than in previous years.”

Organic production is based on a system of farming that maintains and replenishes soil fertility without the use of toxic and persistent pesticides and fertilizers or genetically-modified seeds.

Website: http://www.organicexchange.org/



Reader Comments (0)

Add Your Comment

(Use any name, your real name is not required)
Type the characters you see in the picture below.

home |about us |contact us |advertise |feeds |privacy policy |disclosure

Compare Green Cars   |   Find Alternative Fueling Stations