Turner Investments is the latest money manager to see a lot of upside in investing in companies that specialize in organic and natural foods.

Earlier this week, Turner published a report noting natural and organic foods have moved into the mainstream and are being purchased by more consumers. "As organic and natural foods appear on more consumer shopping lists, we think companies that manufacture and sell these products should enjoy healthy earnings growth in the years to come. These companies include Annie's, Hain Celestial Group, Natural Grocers by Vitamin Cottage, The Fresh Market, Whole Foods Market, and United Natural Foods," the report says.

Why the trend? Turner attributes it to changing demographics and attitudes toward food. For one, baby boomers are now older, more affluent and more discerning than they used to be when it comes to what they want to eat. Millennials, which Turner defines as those born after 1980, are just as health conscious, if not more so, than boomers, the Berwyn, Pa., money manager says.

"Sales in the U.S. organic-food industry have grown steadily from a mere $3.5 billion in 1996 to $31.5 billion in 2011. Most recently, from 2010 to 2011 the industry grew at a 9.5 percent rate, compared with about a 5 percent growth rate from 2005 to 2009," the report says.

To see the report, click here.