‘Eco-friendly Fairtrade foods selling like hot cakes in UK: study
31 Dec 2010
Consumer spending on eco-friendly goods from 'Fairtrade' food to travel grew by almost a fifth over two years in the UK despite the economic downturn, figures released today reveal.
The ethical market in the UK was worth £43.2 billion in 2009 compared with £36.5 billion two years earlier – an increase of 18 per cent, according to the Co-operative Bank's annual Ethical Consumerism Report.
The annual report has been compiled since 1999 and analyses sales data for sectors including food, household goods, travel and ethical finance.
Those that showed massive growth throughout the downturn included Fairtrade products - which pay a premium to farmers and producers in poor countries to help them work their way out of poverty - the RSPCA's Freedom Food-labelled items and ethical banking, even as sales of organic food dwindled.
Fairtrade food grew by 64 per cent to reach sales of £749 million, while sales of Freedom Food products, backed by the Royal Society for Prevention of Cruelty to Animals tripled in two years to reach £122 million.
But sales of organic food slumped by 14 per cent to £1.7 billion as cash-strapped shoppers opted for cheaper options.
