In Australia, the organic food industry's value is estimated 450 million US dollars a year. Globally, Australia is the fastest-growing food market.

Australian Consumers' Association has blamed the central Government of dragging its feet while consumers are being misled.As per Australian government's department of agriculture, in terms of investment, trades, profitability and growth in job opportunities food industry is vital to Australia. In 2004-05 food sales were 91.8 billion US dollars, representing 46% of total retail revenue in Australia.

Food exports in 2004-05 accounted for 18% of total Australian merchandize trade and were 24 billion US dollars. Food processing is Australia's biggest manufacturing sectors, accounting for 21% of manufacturing revenue.

National Food Industry Strategy is a 114 million US dollars partnership between food industry and Australian Government, which plans to position Australia as a major player with significant role in the international food product scheme by year-end 2007.

Australia is increasing its standard for organic food. However, the Australian Consumers' Association said it needed government support. As per the Association spokeswoman, there was no government regulation about what defined organic food. While an Australian Standard is a step in right direction though it's not mandatory.

Related Market Research Reports:
Indian Food and Drinks Market: Emerging Opportunities
US Wine Market Forecast to 2012
Philippines Food, Beverages and Tobacco Market Forecast till 2011